The Cayman Islands Monetary
Authority is heading for MARS.
MARS isn’t the red planet, but a
new information system that is short for Monetary Authority Regulatory System that will advance
the storage, updating, and tracking of data on entities regulated by CIMA.
move, which was three-years in the making, was announced in the second quarter
edition of The Navigator, the Monetary Authority’s official newsletter.
The article stated that MARS is
designed to give the Monetary Authority’s staff “a more efficient and productive tool for
inputting and monitoring vital information.”
Managing Director Cindy Scotland
said implementing MARS had been a vital part of improving the organisation’s information
technology is a major element in our efforts to modernise, increase efficiency
and maximise our resource,” she said. “Over the coming months, I think our stakeholders
will be pleased at the improvements they will benefit from as we fine tune MARS
and roll out other IT solutions now being worked on.”
MARS application was written using Microsoft technologies with the goal of
being modular, flexible and extensible, said Head of Information Services Chuck
major advantage is that MARS will be able to seamlessly integrate with other
applications to support the extended functionality,” he said.