How Ascent Helps Financial Firms Slash Compliance Costs | Ascent

Ascent helps financial services firms follow the laws, rules, and regulations more easily, both reducing overall compliance costs and helping you avoid monetary, reputational, and punitive penalties.

Lower compliance costs, fewer fines

The leaps and bounds that AI technologies have made in recent years make it possible to automate compliance processes such as regulatory mapping and regulatory change management — which have historically been highly manual, time-intensive, and prone to human error.

A pioneer in regulatory knowledge automation, Ascent rapidly and accurately identifies every obligation that applies to your specific firm. Then, as regulators publish new rule amendments or additions, your obligations are automatically updated to reflect these changes.

Ascent’s technology helps firms save money on compliance in two key ways:

— Reduces the cost to comply. By automatically generating a firm’s regulatory obligations and keeping them updated, Ascent helps in-house Compliance teams and regulatory advisors save significant time and resources. As importantly, Ascent empowers existing staff to take on more value-add activities such as proactively preparing for regulatory change and developing regulatory strategy, thereby strengthening the business overall and shifting compliance from a cost-center to a competitive advantage.

— Prevents compliance failures and associated fines and penalties. In a world where a new regulatory update is issued every seven minutes, financial institutions can no longer afford to miss a rule change. By automatically delivering the obligations and rule changes that apply specifically to a business, Ascent helps shore up the compliance program, minimize risk, and avoid fines.

A Global Top 50 Bank achieved 99% cost savings with Ascent.  Read their Story.

 

Contact us to request a demo or learn more about Ascent.

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