How Ascent Helped a Global Top 50 Bank Wrestle the BEAR

[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_row_inner column_margin=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”1/1″ tablet_width_inherit=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]

Case Study

[/vc_column_text][ultimate_spacer height=”15″][/vc_column_inner][/vc_row_inner][vc_row_inner column_margin=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”5/6″ tablet_width_inherit=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]A Global Top 50 Bank identified the need to more proactively and appropriately respond to regulatory change. Their objective was seen as especially crucial in light of today’s climate of heightened personal responsibility ushered in by recent developments such as the Banking Executive Accountability Regime (BEAR) in Australia and the Senior Managers and Certification Regime (SM&CR) in the UK.[/vc_column_text][/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”1/6″ tablet_width_inherit=”default” column_border_width=”none” column_border_style=”solid”][/vc_column_inner][/vc_row_inner][ultimate_spacer height=”20″][vc_row_inner column_margin=”default” text_align=”left” class=”drop-box”][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”5/6″ tablet_width_inherit=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Our Customer at a Glance

$20B Annual Revenue
30,000 Employees
1,000+ Locations Worldwide
300+ Regulating Bodies to Comply With

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The Problem

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Our customer sought a technology solution to address the following challenges:

Rising volume of regulatory change, which is impossible to track manually.
Challenges with understanding their entire regulatory landscape, including international and domestic requirements.
Lack of internal visibility and traceability throughout the regulatory change management process.

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These challenges led to missed rule changes and regulatory infractions.

Partnering with Ascent

[/vc_column_text][vc_column_text]The Global Bank initiated a project with Ascent to help reduce the highly manual (and inherently risky) effort of regulatory intake and analysis, as well as to provide more visibility into how regulatory changes are tracked, reviewed, and applied to the business.[/vc_column_text][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”5/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][ultimate_spacer height=”20″][vc_column_text]

The Results

[/vc_column_text][vc_column_text]— Significant Reduction of Manual Effort. Ascent automatically provides a feed of regulatory changes, eliminating the need to scour regulator websites and other sources.

— Improved Accuracy in Pinpointing Relevant Requirements. Ascent dynamically generates the list of all relevant regulatory changes according to our customer’s specific products and markets.

— Greater Visibility and Traceability. Our customer is able to view relevant changes, track the transfer of the change between departments, and facilitate review of the change by team members. This capability allows the Bank to effectively identify, triage, and track changes.[/vc_column_text][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”5/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][ultimate_spacer height=”20″][vc_column_text]

We help you comply with confidence.

[/vc_column_text][vc_column_text]Modern challenges require modern tools. Interested in seeing how Ascent can help you stay ahead of regulations like BEAR around the world?[/vc_column_text][ultimate_spacer height=”20″][vc_column_text]

Contact Us

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