Empaxis Data Management, a global provider of financial technology and operations outsourcing for investment firms, has added to its compliance qualifications, becoming ISO 22301 certified.
ISO 22301Â is an international standard for Business Continuity Management (BCM) that “specifies requirements to implement, maintain and improve a management system to protect against, reduce the likelihood of the occurrence of, prepare for, respond to and recover from disruptions when they arise.”
“Having ISO 22301 is huge for us,” said Empaxis Founder and CEOÂ Stephen Van de Wetering, “It validates everything we do to help money managers.”
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The certification is both timely and relevant, noted Mr. Van de Wetering.
“COVID-19 showed the importance of risk mitigation, and investment managers need assurance from their service providers that they are fully capable of protecting against disruptions. Empaxis proved more than capable in the last 12 months, and ISO 22301 confirms that.”
Mr. Van de Wetering pointed out that the certification also covers the procedures specifically related to Empaxis service offerings.
“The auditors looked at our turnkey asset management platform (TAMP1), middle- and back-office outsourcing services, and automation solutions. Their findings are a vote of confidence.”
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With outsourcing a growing trend in the investment management space, firms must do their due diligence when selecting a third party.
“Find out early in the conversation what accreditations and qualifications the service provider has. It’ll make your job a lot easier when speaking with the board of directors or executive management about outsourcing opportunities. The last thing you want is the partnership to be denied because the third party lacks the proper certifications.”
