Financial institutions need to process and consume a new regulatory development almost every 7 minutes across their regulators. Missing or mis-managing you regulatory obligations costs financial institutions. Manually managing regulatory change and compliance means that every regulatory rule is being captured, read and interpreted by a human being, which is time-consuming and highly prone to error.
FinReg-E delivers regulatory compliance and change management in 60 seconds. We deliver market leading domain expertise in regulation and compliance via machine learning and natural language processing to automate the identification, interpretation and compliance with financial regulatory rules In 60 seconds, Finreg-E provides: 1. A list of regulatory obligations under a rule; 2. A map of regulatory obligations against current compliance controls; 3. Gaps in obligations versus compliance controls. Our clients trials have proven we deliver over 95% accuracy in identifying regulatory obligations and a 95% reduction in workload and operating costs versus manual processing. We make Financial Regulation EASY!
Non-compliance can significantly cost financial institutions. In the UK, The FCA alone collected £351m in regulatory fines in 2019 for non-compliance. Across our clients, it is recognized that managing regulatory change and compliance manually is a high risk, inefficient and spreadsheet led process that is no longer sustainable.
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