Contract Management for Financial Services

Due to liquidity restraints and cost-cutting concerns, the Financial Services companies must ensure real-time visibility into budgets and costs by optimizing resources. The number of regulations governing the business interactions in financial services industry are proliferating and hence, increased scrutiny by regulations such as the PATRIOT Act, regulations by Office of the Superintendent of Financial Institutions (OSFI), and Bank Secrecy Act (BSA) / Anti-Money Laundering Law (AML) etc. also demands complete control over contracts. Effective contract management for financial services is not merely an operational necessity, but the very foundation of data protection, consumer service and ethical values of the organizations.

Ultria CLM - Enterprise Contract Management Software for Financial Services enables organizations to streamline all contracting processes, reduce risks, and design a better compliance management framework:

  • Track and manage contractual data comprehensively to ensure all compliance documents such as those for Consumer Financial Protection Bureau (CFPB) and OSFI are valid.
  • Maintain audit trail and versions for all the changes made to professional service agreements, confidentiality agreements, independent consultant agreements and more.
  • Create error-free and all-inclusive contracts much faster using pre-approved clause and template libraries; automate onboarding of clients, brokers, advisors, and other personnel involved in delivering the financial services.
  • Gain visibility into contractual obligations and milestones to ensure adherence to the scope of work and meet delivery timelines and budgetary expectations.
  • Store and manage all contracts within a searchable and secure repository.
  • Grant user and folder-based access for confidential contracts and compliance documents.
  • Establish and trigger standardized or dynamic workflows with multiple reviewers and approvers, as required in any given context.
  • Generate reports to increase transparency and stakeholder accountability for key actionable items and performance indicators.

These benefits are just the tip of the iceberg.
To learn more about how Ultria Contract Management for Financial Services can help your organization, you can engage with us.

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Your information will be used to send you this and other relevant offers by email. We will never sell your information to any third parties. You can, of course, unsubscribe at any time. View our full GDPR Policy.