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[Infographic] Regulatory Knowledge Automation, Explained

By Blog

Infographic that explains Regulatory Knowledge Automation

 

WANT TO LEARN MORE?:  Download our Regulatory Knowledge Automation guide

 

Modern challenges require modern tools. Interested in seeing how Ascent can help you identify your obligations and automatically keep them updated as rules change?

Contact us to see the Ascent platform and learn how our Regulatory Knowledge Automation can help lower your regulatory risks & costs.

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The Shortest Commute: How to Set Up a Fully Remote Workforce

By Blog, Culture

(6 min read)

As the global health pandemic has swept across the country (and the world), business after business has locked up its office space and moved employees to working remotely — often under government mandate. 

This transition happened much more quickly than most of us could have imagined. And while some companies might have been more prepared than others, virtually every company had to make some adjustments to accommodate this new reality. 

We recently spoke with three team members at Ascent who were critical in getting our fully remote workforce up and running — Carrie Pinkham (VP People), Sarah Samuels Taylor (Chief of Staff), and Chris Doyle (Chief Technology Officer) — to better understand what challenges this new environment poses and to share advice on overcoming them.

You can watch the full conversation here or read the highlights (edited and condensed for clarity) below.

LEARN MORE: Ascent’s Open House: Socially Distant, Virtually Connected

 

What are some of the biggest challenges facing a company when setting up a fully remote workforce?

Sarah: In general, I’d say two of the biggest challenges are maintaining seamless communication and preserving team culture. These areas are especially important given the current environment because they both help establish a sense of normalcy — something very much missing at the moment. We’ve made them specific areas of focus for that very reason.

Carrie: I’d add too that, to Sarah’s point, the actual challenges of working remotely are exacerbated by the fact that we’re doing all of this during a global health crisis. That brings a lot of new questions to any company. How do we support our customers in this new environment? How do we support our team? For those of us who are parents, how do we balance childcare with our professional responsibilities? How do we manage the stress and concerns that come with a crisis like this?

As a company, that’s been one of the biggest challenges we’ve tried to take on — how can we make sure we’re supporting our employees as people during this crisis.

How has our team tried to address those challenges?

Sarah: Thankfully, we already had a few key tools in place which helped make our transition much smoother. We already relied primarily on Slack for internal communications and had Google Meet in place as a video conferencing tool (much like other companies might use MS Teams and/or Zoom). Our task then was to figure out the best way to use those tools in the new environment. 

As the situation has evolved, our communication strategy did too. We started out with daily updates, and frequent opportunities for non-work connections, like virtual lunch-and-learns and happy hours. As it became clear that this crisis was going to be around for the near future, we adjusted that cadence. Right now, Brian Clark, our CEO and founder, provides company-wide updates three times a week. We’ve also created a handful of more long-term engagement opportunities, like Donut, an app that randomly pairs employees for get-to-know-you chats. 

The lunch-and-learns in particular have been a great way to showcase internal talent and maintain culture. We started with one hosted by teammates that were already exclusively remote, so they could share their best practices and answer questions. Brian also led a session on our company mission and values — something both helpful for our new hires and a good reminder for folks who have been with us for awhile. We’ve also had more social opportunities, including a magic show, a virtual Quiplash (a group game where players ask and answer fun questions) session, and a college spirit day. 

Are there benefits to a remote workforce?

Carrie: Again, it’s important to distinguish here between the benefits in a normal environment and our current one.

In a normal situation, there are a number of potential benefits for both individual employees and for the company. Employees can eliminate their commute and add hours back to their day. For some, depending on your home environment, working remotely can have fewer distractions than an office environment and be more conducive to deep work. And, of course, there’s also the general flexibility working from home can provide.

For companies, a remote workforce allows them to pick from a broader talent pool, rather than being limited to local candidates or those willing to relocate. Additionally, by having employees in different parts of the world, it can give your company coverage over more hours of the day.

Obviously, though, in our current climate some of those benefits are undercut. If you have small children at home, finding time for deep work is far from easy. But I do think one interesting benefit to come out is a renewed sense of community internally. We opened one of our virtual happy hours with asking people to tell us the worst job they’ve ever had and we had some really interesting, engaging conversations that probably wouldn’t have taken place otherwise.

What role does technology play in keeping a remote workforce connected?

Chris: Quite simply, you can’t have a remote workforce without tech. Here at Ascent, we rely on a handful of tools, including Google Meet, Slack, Miro (an online whiteboarding and collaboration tool), and Google Docs.

Another thing I think this crisis has really brought to the forefront is the importance of a stable internet connection. Being digitally connected is the fundamental aspect of collaboration right now. If you don’t have a stable connection, it cuts you out of the loop — whether that means you can’t access your work at all or you can’t fully interact with coworkers through tools like video chat.

But having the right tools is just a part of the equation. Just as important is how you use those tools. I think one of our strongest assets going into this was having a well established operating cadence. Having pre-existing status meetings, standups, and 1-on-1s helped prevent duplicating work and improved communication. Because that cadence was already set up — and because it was relying on digital tools, like Google Docs or Google Sheets and video conferencing like Google Meet — it helped create continued momentum as we shifted into a fully remote workforce.

Ascent’s technology is completely cloud based. What is that important — both for our customers and our employees?

Chris: Two of the biggest advantages are the flexibility and scalability it gives us. Leveraging cloud servers like AWS lets us serve companies around the world and frees us up to grow more quickly. Quite simply it allows us to keep our focus on what we are the best in the world at — building AI for regulatory compliance — without getting bogged down in logistical considerations that a cloud vendor is better equipped to manage.

Also, we’re seeing more and more of our customers moving to the cloud. Some are there already, some are still early in that journey, but cloud computing is so well established now that even many global banks are starting to make that transition. So creating cloud-based solutions helps us serve our customers better — either as they make those transitions now or for when they likely will in the future.

READ ARTICLE: “But Does RegTech Actually Work?” 3 Ways Financial Firms and RegTechs Can Bridge the Trust Gap

Modern challenges require modern tools. Interested in seeing how Ascent can help you identify your obligations and automatically keep them updated as rules change?

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All Tech is Not Created Equal: The Difference Between “Top-Down” and “Bottom-Up” Automation

By Blog

An automation solution that’s not adequately aligned with your business needs or not properly developed can, sometimes, do more harm than good.

Technology is often touted as a panacea for our overloaded work lives. And while we at Ascent believe strongly in technology’s ability to help save firms time and money, we also know that not all technology is created equal.

An automation solution not adequately aligned with your business needs or not properly developed can do more harm than good. “Top-down” automation in particular can have significant consequences.

Below we break down the difference between “top-down” and “bottom-up” automation, define the risks that can come with top-down providers, and explain how to evaluate your options.

READ MORE: What are ‘granular’ obligations in RegTech?

Top-Down Vs. Bottom-Up: What’s the Difference?

Imagine you are given a document about cybersecurity and tasked with analyzing how that document relates to your company’s cybersecurity policy. 

What do you do? Do you scan through the document looking for any mention of the term “cybersecurity”? Or do you read through the document thoroughly — sentence by sentence, word by word — in order to understand it as completely as possible?

These two methods can be seen as metaphors for how top-down and bottom-up automation approach the work of regulatory compliance. 

Top-down automation acts like a search, skimming through the document for a specified search term. The technology involved isn’t meaningfully different from that powering any website search bar. 

Bottom-up automation, however, uses natural language processing and machine learning models to analyze a document at a word-by-word level. Because of this, it’s able to extract a significantly greater amount of information from each document and to employ that information in many more ways.

RegTech providers often shy away from trying to develop bottom-up solutions because they can take years to initially ramp up and can require much more complex technology. But those that spend the time and are able to develop the AI end up with a far more powerful solution.

Bottom-up automation is akin to having a cybersecurity expert analyze that document for your company, while top-down is more like running a quick word search of it. One can provide a deep understanding of the material. The other can carry some hidden risks.

3 Big Risks with Top-Down Automation

Risk #1: Top-down automation creates more work, not less

The promise of any kind of automation is that it will reduce your workload.

In regulatory compliance, one of the most challenging aspects of compliance is analyzing the massive troves of regulatory documents constantly being released in order to determine which obligations apply specifically to your business. This process, if automated properly, can reduce a team’s workload by hundreds or even thousands of hours while simultaneously reducing risk and improving accuracy.

But, if automated improperly, tech providers can create the opposite result.

Rather than a select, curated list of obligations being automatically created for you, top-down automation tools can inundate you with a massive dump of results that may have only a tangential connection to your business. This happens because top-down tools return every result where a search term is mentioned — regardless of whether that mention is meaningful.

Ultimately, this adds yet more to the ever-increasing workload of Risk and Compliance teams, and further widens the trust gap many companies already have regarding AI’s capabilities. 

Risk #2: Top-down automation adds risk instead of reducing it

When teams are inundated with a massive list of “potential” obligations, it doesn’t just create more work for them. It can also create more risk. 

Let’s say a top-down automation tool provides you with a long list of search-based results. Combing through it, you realize the tool hasn’t actually streamlined your process because it hasn’t narrowed down your results at all. You decide to revert mainly to your historical, manual process, occasionally referencing the search results as needed.

But, if in your manual process you happen to miss an obligation, your top-down automation tool might have opened you up to additional risk.

Regulators, combing over the audit trail, might see that the missed obligation was buried in the massive list returned by the automation tool. Seeing this, and that the obligation wasn’t implemented, the regulator could conclude that your team disregarded it. 

This situation is far from hypothetical. Regulators are already going on record asking firms what they’re doing to leverage regulatory technology. As they examine firms’ use of tech, they likely won’t be considering whether firms chose helpful solutions or harmful ones — just whether firms effectively employed them.

Risk #3: Top-down automation undermines faith in the power of technology

Digital disruption is here to stay

Before the current crisis, implementing emerging technologies was a way to leverage a team’s time more efficiently and gain an edge on competition. Now, in our new tumultuous environment with its bear market budget constraints, it’s a cost-saving necessity.

But garnering executive buy-in for a new tech solution, uniting a team around it, and working through a successful implementation is no easy task. It’s made exponentially harder if the stakeholders involved have a fresh memory of a solution that didn’t live up to its promise and ended up wasting precious funds.

In pursuit of end-to-end compliance, teams will likely need to build a RegTech stack of multiple solutions — not just to stay ahead of the competitive curve, but simply to keep up with the pace of regulatory change. That won’t be possible if an institution has lost its faith in the power of technology because of a bad experience with a problematic vendor.

How to Avoid the Pitfalls of High-Risk Automation

To make sure your tech solutions actually act like a solution, we suggest the following:

Take time to vet providers. Learn about the technology behind the tools — whether its machine learning, natural language processing, or something else. The more you understand about how the technologies work, the more you’ll be able to evaluate whether they align with your goals.

Consider using a piecemeal implementation approach. It can feel like a real leap of faith to take on the cost and implementation of a new solution. But by beginning with the starter tier of a platform, you can see firsthand how the solution integrates with existing procedures, build faith in and support for the solution across the company, and see the cost-saving benefits in real time. 

Find a tool that can grow with your company. Part of finding the right tech solution is avoiding one that is too limited in scope. If you can instead leverage a robust tool offering a platform of solutions, you won’t have to rip out a more limited point solution a year or two down the road when the needs of your company have outgrown it. 

Ascent — AI Built from the Bottom Up

At Ascent, we’ve built a truly innovative, bottom-up, regulatory technology solution — RegulationAI™. This “digital brain,” trained on tens of thousands of lines of regulatory text and with hundreds of hours of human expert review, powers the entire Ascent platform.

Our machine learning models decompose regulatory texts down to their most basic units — line by line, word by word. This provides us with not just the “raw data” of a regulatory document but the connections between that data as well. Because of this, we’re able to map a company’s regulatory obligations with significantly more detail and accuracy than a simple search-based approach. We provide our customers not with a massive list of potential obligations but with a select list of requirements specific to their business needs.

READ MORE: RegulationAI™ – Why It’s Different

 

Modern challenges require modern tools. Interested in seeing how Ascent can help you identify your obligations and automatically keep them updated as rules change?

Contact Us


Creating Regulatory Knowledge

By Blog

Every day in the world of regulatory compliance, humans create knowledge out of data. 

Risk and Compliance teams scan the regulatory horizon, gathering information relevant to their industry. Compliance analysts then assess those regulatory documents to extract the laws, rules and regulations within them, and then analyze those requirements to determine which might apply to their business. This manual process takes the raw data of regulatory rulebooks and other documents and, through hundreds of hours of hard work, turns it into knowledge.

Only then, finally armed with this knowledge, are teams able to begin the real, vital work of compliance — reconciling their obligations with their policies and procedures, creating controls, and implementing compliance throughout the business. This knowledge creation process is a necessary but tedious and burdensome part of regulatory change management.

And, in our current regulatory climate, it is increasingly impractical.

The Global Financial Crisis of 2007-2008 remade the financial services landscape and, in the process, ushered in a new era of regulatory oversight — one that moves at a superhuman pace. Rule changes have increased 500 percent in the last decade. In fact, a new regulatory update gets implemented every 7 minutes.

Historically, increasing personnel was the primary lever teams pulled in order to keep up with this breakneck regulatory pace. But the current global health crisis and its bear market budget constraints has made that option no longer feasible.

Instead, teams have to turn to the only remaining path forward: emerging technologies.

Regulatory knowledge automation is the process of using machines to complete the knowledge creation process. By leveraging next-generation technologies like machine learning and natural language processing, the knowledge creation work can be completed in mere minutes, at a fraction of the cost, and free from human-error. 

And most importantly, regulatory knowledge automation can liberate Risk and Compliance teams from the burdensome aspects of regulatory change management so that they can instead focus on the more critically human responsibilities of their roles. 

READ ARTICLE: What is RegTech and Why Does it Matter?

 

Automating Regulatory Change Management

Regulatory change management is composed of three stages, all of which can be simplified by emerging technology.

Stage 1: Monitor

In order to keep their finger on the pulse of the regulatory environment, track emerging trends, and identify new obligations and regulatory updates, Risk and Compliance teams have had to closely monitor the vast and fast-paced regulatory landscape.

Historically, this has meant that Compliance analysts had to become experts at finding any industry-related regulatory information and teasing out its applicability to their business. This process — often referred to as horizon scanning or regulatory monitoring — can be an extremely burdensome one, especially considering the high cost for a mistake. Like the proverbial needle in the haystack, any obligation missed among the thousands of lines of regulatory information could have severe consequences come audit time.

But, at root, this process is one of aggregation — something artificial intelligence has long since proved its expertise at. Regulatory intelligence tools now exist that can deliver up a comprehensive view of the regulatory landscape in an instant — taking human-error out of the equation and freeing up an analyst’s time.

Stage 2: Identify

Once the information has been aggregated in the horizon scanning stage, teams then have to sift through the vast troves of documentation to extract the laws, rules, and regulations within them — a complicated undertaking given the dense language and complex structure of these documents, and one that has to be repeated every time a new update is released.

This process had, historically, been the line in the sand for how automation could help with regulatory change management. A machine could aggregate the documents for review, but a human was always needed to extract the knowledge out of all that regulatory data. 

By leveraging natural language processing (NLP) and machine learning (ML) technologies, though, we at Ascent have been able to change this. It is now possible to fully automate the knowledge creation process of regulatory change management.

To understand how, we need to understand how the technologies involved function.

NLP is the combination of computer science and linguistics that allows computers to understand human language. In essence, NLP takes the dense texts of regulatory documents and “translates” them into machine-readable language. ML is the capability to “train” systems how to complete a task. Once NLP has translated regulatory text into something that can be read by a machine, trained ML systems can extract the rules and requirements from that dense text.

These technologies make it possible to automate the “identify” stage of regulatory change management, reducing a 100+ hour workload into mere minutes. 

They also revolutionize the third and final stage of regulatory knowledge creation: Analysis.

Stage 3: Analyze

Once the regulatory documents have been gathered and the laws, rules, and regulations extracted, teams must then analyze this inventory of obligations to determine which apply to their business.

This is one of the most complex parts of regulatory change management and — just as with the “identify” stage — it had previously been impossible to automate. But the same technology we used to revolutionize the extraction of laws, rules, and regulations from documents can be used to analyze those obligations.

Ascent’s RegulationAI™ is a true innovation in regulatory technologies. It uses neural networks — the same technology that powers image recognition software and self-driving cars — to automatically assess which rules apply to your business. RegulationAI™ has been trained not only to identify laws, rules, and regulations from within regulatory documents, but to also take those obligations, assess how they correspond to various businesses based on their business practices and regulatory burden, and then determine which obligations apply. 

RegulationAI creates knowledge out of regulatory data

RegulationAI™ is able to deliver up a complete list of obligations that are specific to your business in mere minutes, at a fraction of the cost, and free from human-error.

This liberates Compliance and Risk teams to perform other, more critical work, but — because the technology digitizes the regulatory documents in the process — it also makes it possible to improve processes that come after knowledge creation. 

With regulatory documents now in a machine-readable form, it is possible to turn those documents into searchable databases, to track changes and rule updates, and even to ingest the data from those documents into a workflow management tool or GRC so that teams can interact with them — marking them for review, sharing them with other team members, and more.

READ ARTICLE: How Ascent Simplifies Regulatory Change Management with Automation

 

Start unlocking the power of automation today.

Ascent’s regulatory knowledge platform offers AI-powered solutions for each stage of the regulatory knowledge creation process.

Regulatory Monitoring: Our regulatory monitoring solution allows you to view, search, and organize regulatory content from around the world, all in one place.

Dynamic Rules: With Dynamic Rules, you can examine rules relevant to you and instantly and easily identify changes.

Obligations: Our obligations management tool automatically generates your obligations for you, helping you build a sustainable, bulletproof compliance program that scales.

 

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Modern challenges require modern tools. Interested in seeing how Ascent can help you identify your obligations and automatically keep them updated as rules change?

Contact Us


 

How to Win (and Fail) When Evaluating RegTech Solutions

By Blog

Compliance workers, financial advisors, risk managers, lawyers, regulatory consultants, and others who deal regularly with compliance all share a similar predicament: They bring a lot to the table in terms of expertise and experience, but are endlessly bogged down by administrative tasks such as scouring regulator websites and newsfeed to keep up with rule changes, or reading dense regulatory text to advise the business on what is required of them to stay in compliance.

The global pandemic has upended businesses across the world, and compliance leaders are now being asked to do more with the same — or reduced — headcount. As RegTech grows in both necessity and ubiquity, finding the right balance of in-house staff, contractors, and technology is more crucial than ever.

But the processes of evaluating technology providers and implementing new solutions are not easy ones. Some organizations work through them with great success — and others with great frustration. 

At a time when wins and failures have greater impact than ever, here are few examples of each to help you better plan your next technology implementation.

Win: When Automation Empowers and Equips People

Risk and Compliance teams possess unique and significant expertise, so the point of bringing on new technology should not be to eliminate humans from the equation. Instead, it should be about determining how you can better leverage existing skills to drive better results. Where does technology fit, and where do humans fit? 

With the right balance, technology can transform once highly manual processes into ones of efficiency.

Fail: When New Tech Does Not Align with Business Objectives

Sometimes tech solutions are tasked with pie-in-the-sky objectives — which would require a significant investment and years of work to achieve (while in the meantime, most likely, new tech would appear that would offer a better fit). Other times it’s the opposite. Companies will sometimes onboard point solutions that hit only a very narrow need and that do not offer the ability to expand in functionality over time. This approach can be successful if the business does not expect this specific to evolve, but often the lack of apparent value weakens the case made for implementing it in the first place. The tool must then be ripped out and replaced down the road as business objectives expand beyond it.

This is why it the capabilities of any new tech should be as aligned as possible with organizational goals. Will the technology meaningfully automate an existing process where resources can then be redirected in service of a business objective? Do the right resources — both financially and personnel-wise — exist to make the implementation a success so the full value of the solution can be realized? Is the timing right for the business? 

Where implementations happen most successfully is when these questions have answers.

Win: Getting Buy-In from Senior Leadership

The opportunity to leverage new technologies can appear at any tier of a business — from a supervisor recognizing a way to streamline efficiencies as a team, to an analyst recognizing a routine task that can be automated. But for the application of technology to be successful, there needs to be buy-in from the top down. 

Leadership needs to not only recognize and believe in the value of a new solution, they also need to understand their role in helping to drive usage. When this happens, doors are opened for a successful implementation, and — even more importantly — culture is aligned around the importance and proper use of technology. 

READ MORE: How to Instill a Vigorous Culture of Compliance

Fail: An All or Nothing Approach

Too often, companies look at taking on a new technology as something that must be done completely or not at all. There are a few issues with this approach.

Even after thoroughly auditing a new solution, it can sometimes be difficult to know if it is a right fit for your processes until you actually adopt it and implement it. Making this a piecemeal approach, where you might implement one tier of a solution before taking on the complete version, can help make the process much smoother. You have an opportunity to gradually introduce automation into your workflow, increasing your understanding of its functionality and your trust in its capabilities.

Additionally, a piecemeal approach can make the price point less painful. Decision makers are likely more willing to sign off if this is the case, and you can begin to see the cost-saving power of the solution in real time.

Win: Thoroughly Vetting Tech Providers

The more you know about the solutions you are considering, the more you can accurately evaluate them — and trust that they work as advertised.

This includes educating yourself about how the technology works so that it does not seem like a black box. This also includes educating other stakeholders, so they can appreciate the total value offered.

Ask the vendor for references. Ask to speak to customers where the solution worked well — and where it didn’t. Ask for case studies and results that bear out the true cost-benefit. Ask to speak to the vendor’s product and operations teams. 

These questions are key to understanding at a hands-on level how the solution would fold into your team’s day-to-day activities.

READ CUSTOMER STORY: Global Top 50 Bank Achieves 99% Cost Reduction in GDPR Compliance

 

Stay Ahead of the Curve — And Your Competitors

The world will almost certainly be somewhat different after this crisis is over, but some things will undoubtedly still be the same. Organizational pressures will still exist. Competition will still be there. Companies will still see a need to be as efficient as possible. 

The right technology solution can help drive better response time to customers, optimize costs, open up new revenue streams, and create better processes to reduce risk. Consider taking the time to determine which solution is best for your business and your needs so you can stay ahead of the curve.

 

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Virtual Chat | In the Midst of Chaos: Shifting from Reaction to Recovery in RegTech

By Blog

Ascent teamed up with The RegTech Association for a joint Ascent Open House and #RegTechOpen4Business event!

In this video, Ascent Founder & CEO Brian Clark presents on “In the Midst of Chaos: Shifting from Reaction to Recovery in RegTech” and answers questions from the audience.

Check out the full talk above and be sure to visit our Open House page for more great conversations!

LEARN MORE: Ascent’s Open House: Socially Distant, Virtually Connected

 

 

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Modern challenges require modern tools. Interested in seeing how Ascent can help you automate horizon scanning, change management, and obligations management? 

Contact Us


 

Ascent Launches Enhanced Regulatory Monitoring Solution

By Blog

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?

Virtual Chat | Compliance Use Cases & Best Practices: What Your Bank Peers are Doing (That Works)

By Blog

Wondering how your financial peers are leveraging technology solutions — and whether or not they’re finding any success? For this fireside chat as part of our Virtual Open House, Jeff Heine, CRO, walks us through “Compliance Use Cases & Best Practices: What Your Bank Peers are Doing (That Works).”

Check out the full talk above and be sure to visit our Open House page for more great conversations!

LEARN MORE: Ascent’s Open House: Socially Distant, Virtually Connected

 

 

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Modern challenges require modern tools. Interested in seeing how Ascent can help you automate horizon scanning, change management, and obligations management? 

Contact Us


 

{Infographic} How to Prepare for a Bear Market

By Blog

Infographic on How to Prepare for a Bear Market

Step 1: Identify Your Essentials

Separate your Must-Haves from your Nice-to-Haves so that, when forced to make cuts, you don’t undermine the fundamental and functional parts of your business.

Step 2: Focus on Efficiencies

Where can you reduce managerial red-tape? How can you leverage the strength of team members to streamline existing processes?

Step 3: Leverage Technology

Talk with teams about which parts of their jobs are heavy on mundane, manual labor and could potentially use automated support.

Step 4: Prioritize Employee Well Being

A bear market places significant stress on employees. Creating an environment that puts them and their health first will also create a happier, more focused, and more productive workforce.

Step 5: Be Ready for Opportunities

Financial firms are known for reminding clients during downturns that it’s here the real money can be made — if one can bear the pain. The same is true for businesses.

Most Importantly: Listen to Risk & Compliance Teams

A bear market doesn’t mean the regulatory wheels stop turning. On the contrary, Risk & Compliance professionals often serve as a business’s crisis response team, making their work more vital than ever. Make sure they’re equipped with the tools they need during these uncertain times.

READ ARTICLE: 5 Ways To Prepare Your Business for a Bear Market

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Virtual Chat | Behind All Good Decisions: How Risk and Compliance Can Use Data Smarter

By Blog

We live in an age of big data — a fact that, for many companies, is as much of a boon as it is a challenge. For this fireside chat as part of our Virtual Open House, Annie Eser, Account Executive, walks us through “Behind All Good Decisions: How Risk and Compliance Can Use Data Smarter.”

Check out the full talk above and be sure to visit our Open House page for more great conversations!

LEARN MORE: Ascent’s Open House: Socially Distant, Virtually Connected

 

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