The specialist provider of currency management services OptimInvest has chosen Penta’s cloud solution to host its proprietary currency management software.
Geneva-based OptimInvest, formerly Overlay Asset Management, has delivered tailored currency solutions to clients since 1998. The company operates under Swiss law and is regulated by the OAR-G (Organisme d’Autoregulation des Gerants de Patrimoine), which in turn is affiliated with the Swiss Financial Market Supervisory Authority (FINMA). FINMA enforces strict compliance standards with regards to outsourced services, standards met by Penta’s services.
Data security and confidentiality
“Data security and confidentiality are central to our product and business,” says OptimInvest CEO Hélie d’Hautefort. “Both companies operate under Swiss law and the rigorous compliance standards set by FINMA. This made Penta the obvious partner when we sought to streamline our IT infrastructure.”
Penta offers a uniquely secure, regulatory compliant and independently ISAE 3402-audited private cloud IT infrastructure, which allows businesses in sensitive sectors, such as finance and banking, to take full advantage of cloud computing.
“Organizations across all sectors are looking to cloud-based IT solutions to make the most of the opportunities that the technology has to offer, such as lower costs, increased uptime and better data security,” says Penta COO Hossein Fezzazi. “However, tightly regulated industries cannot always use off-the-shelf cloud solutions. Penta’s private cloud infrastructures comes pre-approved as compliant with the major financial authorities, and is independently audited every year, precisely to cater to those regulated industries.”
Penta’s most recent ISAE3402 audit was performed by EY (Ernst & Young) and covers the period from October 2012 to September 2013. The audit noted “no deviations” on any of the 17 control points.
The Penta audits are available to clients who need to report on their IT compliance to regulatory bodies, such as FINMA, the USA’s Securities and Exchange Commission (SEC), and the UK’s Financial Services Authority (FSA), at no extra cost.