April 2020 Bank Secrecy Act / Anti-Money…
In the context of increasing compliance challenges, AI and RegReview facilitate and accelerate regulatory monitoring and compliance.
The regulatory monitoring and compliance process impact Financial Institutions at multiple levels:
Regulatory issues have changed considerably in recent years: regulatory inflation, technicality, a significant increase in regulatory controls, taking into account local specificities, etc. These are all challenges that companies have had to meet by significantly strengthening their teams, particularly in the compliance functions. These organizational changes have not always been supported by a "toolbox" of functions and many processes, such as regulatory monitoring, are still often carried out manually.
At a time when the Compliance and Risk Functions need to find the right balance, companies are now looking at solutions to facilitate the management of the industry and enable them to adapt to the current realities of telework management, the development of new modes of communication and monitoring that will most likely be reinforced with the Covid-19 crisis that we are currently experiencing.
RegReview has been developed to meet these challenges and is part of an approach to optimize compliance in companies. A complete and integrated platform, RegReview allows you to address your regulatory issues in a simple and automated way:
The RegReview platform goes far beyond a simple regulatory monitoring tool. Configurable according to user needs, it allows a dedicated and tailored monitoring of regulatory news. Our solution also offers the ability to automate and centralize the monitoring of compliance actions and thus to pace regulatory demand, to disseminate it to the compliance and risk channels locally and within entities, to anticipate possible implementation synergies and consequently to manage its non-compliance risk.
With a search engine equipped with a high-performance AI, our solution captures all regulatory news (guidelines, consultations, directives, press articles, studies, etc.) and ensures exhaustive monitoring thanks to a search that can be configured beforehand (regulatory source, key words, types of regulation, sector of activity, etc.).
As each regulatory change can have an impact on a company's activities and on its compliance system, it is necessary to decipher the operational impacts beforehand in order to prepare for their implementation in the best possible conditions.
In order to facilitate, organize and follow up in a centralized way, RegReview has a module for managing analyses and regulatory compliance actions. It allows you to select a publication to be processed, to assign tasks (analysis, update, validation, etc.) to employees regardless of the department or entity to which they belong, to specify the task validation methods and also to monitor its progress.
Finally, RegReview also offers a personalized dashboard for each user. It tracks the progress of assigned and own tasks and has a notification system. It also allows the identification of regulatory trends (number of publications per source and per given period and selection of publications) on user-defined search perimeters.