NoFrixion partners with CalQRisk for DORA compliance

The decision to select CalQRisk as a partner can be attributed to the company’s experience in managing operational risk, its abilities to offer customised compliance solutions, as well as its knowledge of digital resilience for financial institutions. In addition, CalQRisk’s platform merges risk management and compliance workflows to guarantee that all aspects of DORA, from risk mitigation and incident reporting to third-party oversight, are managed. When commenting on the announcement, representatives from NoFrixion underlined that, by leveraging CalQRisk’s platform, their company can maintain the delivery of secure and optimised digital payment solutions while also falling in line with regulatory obligations.

Furthermore, CalQRisk provides a set of risk management features that focus on meeting NoFrixion’s operational and regulatory needs, demands, and requirements. Among these capabilities, the two companies mention automated compliance monitoring, incident response planning, and detailed reporting mechanisms that support transparency and accountability. Also, by aligning with DORA obligations, NoFrixion is set to be able to manage third-party relationships, an area on which the new legislation focuses.

As a provider of risk management and compliance solutions, CalQRisk works towards equipping organisations with the tools they need to manage their obligations efficiently. Currently, the company serves a range of industries, supporting them in navigating the complexities of regulatory requirements. The partnership with NoFrixion follows CalQRisk’s collaboration with Paysend from November 2023, when the latter implemented its solutions to augment and automate its approach to enterprise risk management. At that time, CalQRisk’s solutions were leveraged by a growing number of fintech companies, with the firm looking into assisting them in simplifying manual processes while maintaining regulatory compliance.