Head Office: 430 Bath Road, Slough, Berkshire, SL1 6BB, UK | 75, 2nd Avenue, Suite 411, Needham, MA, 02494, US Tel: +44 (0) 1628 600900 Email: support@mitratech.com Other offices: Framingham, Frankfurt Website: www.mitratech.com Twitter: @MitratechLegal Founded: 1991 Ownership: Private Number of staff: 70+ Partners: Misys, Sopra. Distributors in the Caribbean, Africa and Middle East


the centre. The software is multi-lingual (‘17 languages out of the box’) and it ensures that polices and procedures are in place, communicated, read, understood and committed to, with alerts where, for instance, a staff member has not read a policy within a designated timespan. Hitec Labs claimed to have signed 100 customers in the three and a half years to Q3 2013, with half of these in London. The functionality can span international networks and has both corporates as customers (Mars, Gucci, Lockheed, for instance) and banks. In 2006, Hitec Labs bought a company called Ten Software,


which had an enterprise risk system for local authorities, with around twelve customers. With the economic and financial crisis, local authorities stopped spending and Hitec Labs, ‘refocused, reengineered and redeveloped’ the solution, in the words of CEO and founder, Jeremy Crame. The redevelopment was done in .Net and SQL, in line with the rest of the products. The business came to be repositioned around Enterprise Content Management (ECM) and GRC for financial services. All products were redeveloped. One result of this was the launch in 2011 of Datastore DSX, designed as a corporate ECM offering. One large roll-out for ECM of late has been Banco do Brazil, for multiple sites, alongside Oracle FSS’s Flexcube. The company has a long-standing distributor in Trinidad for the Caribbean and others in Africa (Nairobi) and the Middle East (Arab Bank is a large user here). It has been less active in the more competitive European market, although was hopeful of making headway with an initial couple of wins for PolicyHub in Germany via a sales agent by late 2013. In 2013, Hitec Labs opened a testing and QA centre in Swansea, in Wales, as it struggled to recruit new staff in Slough, where there is considerably more competition from large companies. At home, pending new regulations, particularly with consumer credit institutions coming under the scrutiny of the


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FCA from April 2014, has brought demand. Some institutions have pulled out because of the new burdens that this has brought but others have been going through technology overhauls to be compliant. One example is Capquest, which is using Hitec Labs’ ECM as one component within such an overhaul.


The Misys partnership remains, with Hitec Labs having of


late integrated its systems with its partner’s flagship, the Java- based Bankfusion Universal Banking System, as a strategic move.


In March 2015, Hitec partnered with DeltaNet International to deliver e-Learning content and compliance training inside its market leading Policy & Procedure Lifecycle Management solution, PolicyHub. Hitec is developing key strategic relationships with a number of carefully selected partners that share its values and service excellence. Joining forces with DeltaNet International, a leading provider of e-Learning products and services in the UK and globally, enables Hitec to deliver e-Learning products and services within PolicyHub, providing clients with end-to-end, pro-active policy communication, training and compliance, so demonstrating best practice to Regulators, Senior Management and Auditors. Hitec also partnered with Click 4 Compliance in May 2015, to deliver e-Learning content and compliance training inside its market leading Policy & Procedure Lifecycle Management solution, PolicyHub.


In June 2015, Hitec announced its membership of the British Bankers’ Association. Hitec counts many of the world’s leading banks and BBA members among its customers. Hitec’s software solutions are ideally positioned to enable banks to meet the Conduct Risk and Systems & Controls framework requirements of the FCA and to evidence compliance. In 2015, Hitec has delivered an excellent financial performance with revenue up 13.2% for the year ending


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