Rapidly evolving regulatory rules have created an unequivocally challenging environment for financial services. As compliance teams face pressure to respond at breakneck speed, many firms are finding relief through top-notch technology solutions fueled by AI. What was once a strategic advantage enjoyed by early adopters has now become essential for nearly every industry player. While this industry has garnered speed around identifying and solving for regulatory changes thanks to automation and machine intelligence, challenges around confirmation, implementation, and solving for human error still persist across compliance channels.
Our Ascent team is proud to announce a partnership with Onspring that solves these critical issues and places control back into the hands of compliance leaders. Coupling Ascent’s regulatory automation with Onspring, a leading cloud-based business automation and real-time analytics platform, allows firms to streamline compliance to keep pace with rapidly evolving regulations.
Firms will benefit from boosted visibility into relevant regulatory obligations, reducing manual research hours and optimizing overall performance of compliance teams. By housing accurate data in one centralized view, teams can efficiently map granular obligations into policies, procedures and controls. And when policies shift, built-in algorithms empower compliance teams with a direct line of sight allowing for improved response times and tighter control over every regulatory aspect of the firm.
As firms compete for top talent and seek to retain highly-adept compliance managers, optimizing workloads and creating space for success becomes increasingly important. Engaged teams are critical to the bottom line, ensuring fewer mistakes, better communication and teamwork while minimizing human capital expenses associated with higher turnover. The friction caused by intensified regulatory scrutiny post-pandemic can have a dramatic impact on compliance teams that are improperly equipped to navigate essential regulatory changes. Empowering employees with effective solutions that reduce manual tasks will elevate firms this year.
“We could not be more excited to give firms the assurance they need to quickly and effectively assess the impact of regulation within the context of their businesses, with the help of Onspring,” shared Dominick Campagna, Ascent’s Vice President of Sales.
If your firm is eager to reduce the tedious, manual burdens that can bog down even the most advanced compliance leaders, a RegTech solution like Ascent could be the perfect answer. Learn more about our partnership with Onspring and what it means for the future of RegTech.