The basic module allows the administration of all base data such as accounts, counterparties, users and much more. It is the foundation for all other magnet™ modules and also allows the exchange of data between the different modules. It also allows the configuration of the security-relevant settings, which will be explained in more detail in the next section.
Security, risk and compliance
If the internal (customer-)Network gets hacked, all IP-restrictions won’t help (anymore). Often companies forget about the possible threats from inside trough their own employees, because they think to much about the external threats. In this case a more thought out user concept and a 2FA get even more important.
Compliance essentially involves the separation of functions and process monitoring. However, there is (still) no law that requires a separation of functions in the financial management of companies. There are legal requirements for due diligence. Among other things, a company must be aware of its financial and asset situation at all times. But nowhere is it prescribed if and how a separation of functions has to be set up in a financial organisation. Functional separation means that whoever acts may not settle, book and value these transactions. And whoever settles may not trade, post and value etc. The video on the right also deals with financial risk management and the associated separation of functions in magnet™.
How are Swiss and European financial institutions integrated into magnet™? How is the authorization of payments in magnet™ regulated? These questions and others – e.g. on worldwide banking connections – are answered in this video.
Video ‘Security, risk and compliance’:
- Technologie / Scope of services
- Security aspects
- Management of financial risk
- Bank communication
- Market data