Ascent RegTech announced today the launch of an enhanced product offering that automatically delivers regulatory updates targeted to the customer and, even more critically, that shows the customer how that update affects their daily compliance tasks. The Ascent Change Management product helps customers in financial services and other industries drastically improve their horizon scanning and change management processes, thereby accelerating their path to total compliance.
The solution provides the following value: Horizon Scanning delivers a targeted feed of new regulations and rule changes that apply specifically to the customer. Change Identification — a brand new feature – provides a side-by-side comparison of the previous and newly updated versions of the rule text. Lastly, Impact Analysis shows the impact to the customer’s tasks which contain their controls, policies and/or procedures, enabling further action.
Historically, compliance teams have had to manually search for regulatory updates, with the information being housed in disparate systems. With Ascent Change Management, customers are automatically fed rule changes, with the additional significant value of immediately gaining insight into how those changes affect their daily compliance tasks.
Ascent proprietary and market-leading Regulation AI rapidly identifies a customer’s specific obligations from voluminous regulatory text and distills them into workable tasks. This targeted, core intelligence is the engine which powers both the Ascent Change Management solution, and Ascent Plus, which includes change management plus a full suite of compliance management capabilities, such as task management and a fully traceable audit trail.
Ascent Change Management is the only solution of its kind that is 100% automated, freeing compliance teams from the most tedious and error-prone components of their compliance programs. With the significant time savings gained by using Ascent (up to 49% per compliance officer, per year), customers are able to redirect time, energy, and resources towards the most critical aspects of compliance, such as exceptions and proactively addressing high-risk issues.
To learn more about Ascent Change Management and to request a demo, click here.
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Ascent helps customers automate and manage their compliance programs through a simple-to-use, cloud-based platform powered by Regulation AI. We help you reduce risk, control costs, and achieve total confidence in your compliance program.