Gieom partners with Stoics to expand compliance service in Europe

By Gloria Methri

Bengaluru-based RegTech Gieom Business Solutions is venturing into Europe through a strategic partnership with Stoics IT Solutions & Services Ltd, a specialist in IT solutions and services for the financial sector based in Cyprus.

This strategic collaboration is aimed at addressing the DORA (Digital Operational Resilience Act) requirements of banks in Cyprus, Malta, and Greece through the implementation of the DORA 360 RegTech platform by Gieom, facilitated by Stoics.

In the current landscape, technology plays an increasingly pivotal role in ensuring regulatory compliance. This partnership seeks to merge Gieom and Stoics’ strengths to provide comprehensive solutions tailored to meet the new DORA regulations. By harnessing the advanced capabilities of Gieom’s DORA 360 platform and leveraging Stoics’ extensive experience and market presence in Europe, the partnership aims to deliver unparalleled value to customers.

John Santhosh, CEO at Gieom, said, “Stoics’ reputation in providing Banking Software services and deep understanding of the local market in Cyprus, Malta, and Greece aligns perfectly with our commitment to providing a RegTech platform to banks in the region with local expertise. Together, we are well-positioned to address the needs of financial institutions in the area of DORA compliance.”

Antonis Theodosiou, Services Director at Stoics, expressed enthusiasm about the collaboration, stating, “We are excited to join forces with Gieom to deliver a platform to address the DORA compliance needs of our clients. This partnership underscores our commitment to providing cutting-edge technologies and superior service to businesses in the region. Through this collaboration, banks and financial entities can immediately fast forward their compliance to DORA.”

As part of the partnership, both companies will establish a techno-functional team in Cyprus to support financial institutions in Europe in addressing their DORA compliance requirements.