“Helping customers successfully navigate their regulatory requirements in an uncertain world has never been more important, and the addition of our new regulatory monitoring solution better positions us to do that going forward.” —Brian Clark, Founder and CEO, Ascent
Ascent, an AI-driven solution that helps customers automate regulatory compliance, today announced the launch of its new regulatory monitoring and intelligence solution.
Brian Clark, Ascent Founder & CEO, commented, “Ascent was founded in response to the 2008 financial crisis, so we are keenly aware of the challenges that Risk and Compliance teams — our customers — are facing in today’s climate. Helping customers successfully navigate their changing regulatory requirements has never been more important, and the addition of our new regulatory monitoring solution better positions us to do that going forward.”
Ascent’s enhanced regulatory monitoring tool is a natural complement to its suite of AI-powered compliance automation solutions that allow customers to identify, track, and manage their changing obligations. With Ascent’s regulatory monitoring tool, customers can consume and triage regulatory updates and other content, as well as connect them to their obligations in a streamlined flow. This content includes contemporary updates from regulators regarding COVID-19.
“Despite being in the midst of a global health crisis, regulators are not pausing; they are continuing to publish rule updates, emphasizing some rules over others given the changing market conditions,” said Jeff Heine, Ascent Chief Revenue Officer. “Companies cannot afford to miss those changes, and frankly they have less time to do so. We are committed to helping our customers succeed in this new environment, and that includes enabling firms to comply more cost-effectively than traditional methods.”
The enhanced regulatory monitoring solution will provide Ascent customers with benefits including:
- Regulatory Change Centralization: All rule updates, guidance notes, speeches and other regulatory documents are consolidated in one place.
- Efficiencies and Time Saved: Customers can save 20+ hours per regulation in monitoring rule changes from disparate sources.
- Continuous Horizon Scanning: Customers can more easily anticipate regulatory changes and plan for business impact.
- Practical Regulatory Themes: Documents are organized by key regulatory themes to reflect how Risk and Compliance Officers actually work.
Using its proprietary RegulationAI™, Ascent processes and analyses regulatory text, doing automatically what takes individual Risk and Compliance officers hundreds of hours to accomplish manually. By delivering actual regulatory knowledge — the regulatory obligations and ongoing rule changes that apply specifically to their business — Ascent helps customers reduce their risk while saving significant time and money.
Ascent has been rapidly gaining momentum since its founding in 2015. Since its inception, Ascent has grown 100% YOY, secured $26.7M in funding, and expanded to 50+ full-time employees.
Modern challenges require modern tools. Interested in seeing how Ascent can help you automate horizon scanning, change management, and obligations management?