GLOMO PAYMENTS IFSC PRIVATE LIMITED completed the initial audit for self-accredited ISO 37301:2021 Certification for Compliance Management System.
The scope of the management system includes the FINANCIAL SERVICES, INCLUDING CROSS BORDER PAYMENTS ACTIVITIES (PAYOUT OF FUNDS, PAYMENT COLLECTION, ANTI-MONEY LAUNDERING (AML), COUNTER-TERRORIST FINANCING (CFT) AND KNOW YOUR CUSTOMER (KYC) COMPLIANCES).
GLOMO PAYMENTS IFSC PRIVATE LIMITED can also apply for ISO/IEC 27001:2022 Certification and Payment Card Industry Data Security Standard (PCI-DSS) standard to demonstrate its commitment to the highest privacy and data security guidelines. The organization can also apply for the General Data Protection Regulation (GDPR) and ISO/IEC 42001:2023 Certification for Artificial Intelligence Management System (AIMS).
What is ISO 37301:2021 Certification?
ISO 37301:2021 Certification is an internationally recognized standard for Compliance Management Systems (CMS). The standard provides a comprehensive framework for organizations to establish, implement, maintain, and continually improve their compliance processes.
ISO 37301 standard helps businesses identify and manage legal, regulatory, and ethical obligations by reducing risks of non-compliance, penalties, and reputational damage. The certification promotes a culture of integrity, accountability, and transparency to ensure organizations meet stakeholders’ and clients’ expectations.
Benefits of ISO 37301:2021 Standard for GLOMO PAYMENTS IFSC PRIVATE LIMITED
ISO 37301 offers the following benefits for GLOMO PAYMENTS IFSC PRIVATE LIMITED. These are as follows:
- ISO 37301:2021 Certification ensures that GLOMO PAYMENTS IFSC PRIVATE LIMITED establishes a robust compliance management system to reduce legal risks and regulatory breaches.
- The standard fosters a culture of integrity within GLOMO PAYMENTS IFSC PRIVATE LIMITED by preventing financial penalties and reputational damage while strengthening stakeholder trust and business sustainability.
- ISO 37301 promotes accountability by streamlining decision-making and optimizing resource utilization. Hence, it leads to cost savings and improved overall business performance while maintaining ethical and legal compliance standards.
Conclusion
ISO 37301:2021 Certification marks a significant milestone for GLOMO PAYMENTS IFSC PRIVATE LIMITED by highlighting its commitment to regulatory compliance, ethical business practices, and operational excellence. The standard strengthens stakeholder confidence and positions the organization as a leader in compliance management within the financial services sector.
