30 Nov 2017

Laura Zverko

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Even though businesses in their many different sectors tend to have a lot in common, they each have key unique principles that define them. This could be anything from regulators, structures, processes and reporting requirements. For financial institutions, data and legalities lie at the centre of every process to ensure a completely secure and reliable service for their customers. Here are just a few of the unique legal requirements that the alternative investment industry faces:

Compliance regulations

IT systems for alternative investment firms’ IT, must recognise and comply with CFA, SEC, CSSF and PCI regulations. Infrastructures must allow for regular reporting and show the way in which data is monitored, stored and processed. Easy monitoring and reporting means that not only is it is easier to demonstrate compliance with these legal requirements, but it can also build a relationship of trust and understanding with your customers.

Security requirements

Alternative investment firms tend are unique in that they tend to hold a substantially large volume of sensitive data compared to many other sectors. This stresses the important of complete data security and the responsibility that these organisations have to protect their customers’ data and their own internal data. Alternative investment firms also need to bear in mind that both internal and external cyber security threats are a higher risk since the nature of the industry means that they are a more likely target.

Flexibility and control

Alternative investment firms need IT infrastructures that are designed, built and managed specifically for their business. This includes allowing for operational requirements such as access to data and the ability to work remotely, regardless of location. Their IT must also be flexible enough to support the business as it changes and grows, increasing storage requirements when necessary without any interruption to the service they provide to their customers and without causing downtime.

Experience in security and compliance

When providing IT to the alternative investment industry, services need to be tailored to be exactly right for each client. With this comes compliance and regulations to abide by, both of which require insight and experience – in particular, with a focus on the upcoming GDPR changes in May 2018 – which businesses must be prepared for in order to be processing, storing and disposing of data in a legal and compliant way.

To find out more about netConsult’s services to the alternative investment industry, give our team a call today on 020 7100 3310.

Author: Laura Zverko - Follow us on Google+

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