Wednesday, October 30th, 2013
Compliance and risk solution specialist myCaRMS has brought new flexibility to Australia’s most popular risk management system for the customer owned banking sector, with the launch of myCaRMS Mobile.

myCaRMS will demonstrate the new features at GRC 2013, the Pacific region’s largest Governance, Risk and Compliance Conference, October 31-November 1, at Crown Promenade, Melbourne.

CEO Donald Halley said that mobile was a natural progression for myCaRMS, which already serves 38 percent of the customer owned banking sector.

“Many of our customers have mobile workforces –  they can now report incidents and breaches, sign off on tasks and view the latest dashboard, all from a mobile or tablet.”

Halley added that there is ongoing pressure on all financial institutions to comply with the demands of new regulations.

“Banks, building societies and credit unions are continually improving compliance and risk management practices,” he said.  “However, the expense of compliance and risk management  is leading to more consolidation among the non-banking sector because a customer owned bank has the same level of regulation as the big four banks.”

myCaRMS background
In 2008, myCaRMS CEO and co-founder Donald Halley recognised the need for an affordable and easy to use compliance and risk management software solution. Today, myCaRMS is used by over 60 organisations with hundreds of users across four countries to streamline compliance and simplify risk management.

“Historically, compliance and risk management systems were designed by ‘professionals’ who knew the jargon and often would make the process more difficult than required, or they were going to be the only ones using the system,” Halley said.

“The key to myCaRMS’ success is an affordable, intuitive and simple to use system that everyone can use.”

Halley explains that engaging staff in compliance and risk management can be a challenge but twice as challenging if the software is not intuitive.  Whilst already affordable, myCaRMS has adopted the Software-As-A-Service model, allowing the customer to host internally or on one of four myCaRMS servers at a reasonable quarterly fee with no large upfront capital outlay.

“Many organisations don’t realise that it is far more cost effective to buy a system rather than develop one in-house using word processing or spread-sheets,” Halley said. “In the industries that myCaRMS predominantly serves, the greatest cost is labour and the in-house solution quickly becomes expensive and has significant long term maintenance issues. With myCaRMS’ inbuilt automation and ease of configuration, setting up can be a matter of weeks rather than years allowing organisations to reap the benefits more quickly.” 

About myCaRMS Risk and Compliance System

The myCaRMS System manages the complete lifecycle of a compliance and risk from identification, assessment, treatment and review. 

The system is highly customisable enabling organisations to use existing methodologies which translates to greater acceptance and an opportunity to embed compliance and risk in the organization.

With integrated KRI and Incidents & Breaches functionality, myCaRMS facilitates the linking and assessment of all components often negating the need for separate registers and spreadsheets.

Contact Profile

Donald Halley

P: +61 8 7070 0990
M: 0411 411 581


risk management, mobile compliance management, customer owned banking sector



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