Software and Process Compliancy for Financial Institutions by PWC and Transtrack
AMSTERDAM, June 17, 2011 /PRNewswire/ --
Transtrack and PWC entered into a long-term cooperation to strengthen controls measures within the CashWebCommunity (CWC) software product for financial institutions.
Transtrack International assigned PWC to audit Transtrack's development processes and software for compliancy with US standard SAS70/SSAE16 (Reporting on Controls at a Service organization) and the similar global standard ISAE 3402.
The initial assessment is performed in June 2011 and the outcome will be processed within the development processes and software where applicable. For each new release of the software a new assessment will guarantee continuous compliancy.
For Central Banks, Commercial Banks, Retailers and Cash-In-Transit businesses the reliability of the cash supply chain processes and supporting software are a basic requirement. It is Transtracks ambition and goal to support these organisations with their CWC solution. As software vendor Transtrack wants to provide a high quality product that fits the high standards of the financial services institutions.
"The assignment of PWC supports Transtrack to achieve a higher quality software product in respect to compliancy demands on controls. With this initiative Transtrack invests in her software to support clients in reaching their compliancy standards.", says Wim Hutten, Partner of PWC the Netherlands.
PWC is specialized in assurance and advisory services for financial institutions and operates in over 160 countries. In cooperation with Transtrack PWC is able to support service organizations in implementing and maintaining a SSAE16/ISAE3402 compliant process and services with CWC software.
Transtrack is market leader in the field of software solutions that address the control and management of all processes within the cash supply chain. "Our clients require compliant systems and processes and our guarantee the cash is securely and professionally managed by the software," said Ronald van Vliet, Managing Director of Transtrack. "Our development of these types of innovations and compliancy processes is aimed at improving the quality and efficiency of the cash supply chain."
The CWC software enables Banks and Cash businesses to operate a web enabled cash management solution that allows for effective outsourcing of cash services and improving the supply chain cooperation aiming at lower costs and higher quality of control and visibility.
W: http://www.transtrack.nl
Share this article