Cloud-based, centralized, and controlled environment for creating and storing compliance controls, policies, and procedures On the private sector side, two pressure points have facilitated the development of RegTech. On the cost side, post-crisis fines have exceeded $200 billion,[8] and ongoing regulatory and compliance costs have become a major concern across the industry. [9] On the revenue side, competition from FinTech companies is expected to threaten $4.7 trillion in revenue. [10] These cost and revenue factors are driving the development of RegTech. As with FinTech,[11] GFC 2008 marked a turning point in the development of RegTech. However, the factors underlying RegTech and RegTech beneficiaries vary widely. FinTech growth has been driven by start-ups (increasingly partnering with or being acquired by banks and other traditional financial institutions)[12][13], while previous RegTech developments are primarily a response to the enormous costs of meeting new institutional requirements for regulators and policymakers. [14] Due diligence tool for regulatory and reputational risk management Protects businesses and their employees from regulatory, legal and reputational risks arising from electronic communications Mike MacDonagh, Director of Enterprise Risk Management at Wolters Kluwer in London, explores for Banking Technology how AI technologies promise to change the way businesses ensure they create a global explosion of new Be able to comply with regulations. HARPOCRATES provides a SaaS solution to ensure regulatory compliance in the context of data protection and Basel III/IV. This is achieved by transforming regulations into digital rules that can be applied to services and applications to ensure compliance by design. To ensure compliance, rules are updated and applied automatically whenever the regulation is amended. We are a regulatory technology services (Reg Tech) start-up founded by professionals with experience in corporate compliance activities.
Our business focuses on end-to-end background checks and forensic support covering a long list of information sources both locally and internationally. We offer a broad list of data-driven services relevant to compliance routines and our core offering is state-of-the-art technology for data collection in public sources, intelligent data compilation and risk assessment in relation to business partners in general (suppliers, customers, trading partners, etc.) that display information in a way that makes KYC (Know Your Counterparty) practices. generally agile and efficient. TIQK AI technology reads financial advisory documents in seconds and identifies areas of non-compliance At this intersection of impending regulatory burden and the rise of AI, RegTech was born. Platform that pulls data from digitized financial services contract documents Learn why financial firms choose Ascent to automate the most time-consuming parts of regulatory compliance. Risk Management and Compliance Solutions for Financial Services Companies to Manage Digital Identities and Process Virtual Currency Transactions We offer data-driven fraud management, transaction monitoring/filtering, and AML name verification in the cloud and on-premises. We intend to become a unique compliance solution in the RegTech space. Collects data from disparate sources and uses AI to analyze information and automatically generate regulatory reports What was once a static environment is becoming dynamic as the process of identifying and mapping regulatory requirements across the enterprise is automated. Businesses can start asking questions and making comparisons: mortgage advertising requirements in the UK versus the rest of the EU or the US? The answers to these questions not only help businesses ensure they are compliant, but also make regulation a more central part of their business decisions. For example, regulatory requirements may be related to controls in a library for which each control has an associated cost. Now it becomes possible to examine and compare the cost of compliance in each part of the business.