implementation

Ascent RegTech & VComply Partner to Create Out-of-the-Box Compliance Solutions for Traditionally Underserved Market

Chicago IL (May 25, 2022) — Ascent, an AI-based solution that automatically generates and updates targeted regulatory compliance obligations for firms across the financial services industry, today announces a partnership with VComply, a leading cloud-based Governance, Risk Management & Compliance (GRC) platform that helps streamline organizations’ compliance and risk management programs. Empowering compliance teams within credit unions and banks to simplify the compliance lifecycle by operationalizing and automating complex data and workflows, Ascent and VComply together create an end-to-end solution for the traditionally underserved midmarket organizations.

VComply’s cloud platform enables organizations with out-of-the-box, fully customizable GRC applications requiring zero coding or infrastructure to strengthen risk and compliance management. The integration with Ascent’s AI-driven technology allows compliance teams to access relevant obligations while improving efficiency and transparency within the compliance management process.

“Our mission is to reduce the costs and complexities of compliance and help create a world that’s not restricted but empowered by the rule of law,” said Dominick Campagna, VP Sales of Ascent “Not only does VComply share in our vision to help regulated companies do the right thing and reduce error-prone compliance operations, but they’re also aligned with our desire to serve the underserved and enable compliance teams to become engines of growth within their organizations.”

Leveraging one of VComply’s unique out-of-the-box compliance solution in conjunction with Ascent’s highly targeted obligations and regulatory change management data allows users to more efficiently manage their compliance team’s organizational processes, tasks and action items right from a single platform for banks, credit unions, consumer lenders, mortgage services, Broker-Dealers, Investment Advisers, and Payment Processors

“Partnering with Ascent provides our clients with increased efficiency, collaborative capabilities, and transparency into business processes,” said Harshvardhan Kariwala, founder and CEO of VComply. “Ascent shares our ethos to simplify compliance and deliver it to the world. We strive not just to serve the Fortune 500, but the Fortune 500,000, to enable disruption and empower those in need of cost-efficient guidance with solutions to fuel growth.”

Learn more about partnering with Ascent.

About Ascent

Ascent invented Regulatory Knowledge Automation to fundamentally transform how businesses comply. Using AI, Ascent generates a complete set of regulatory obligations targeted to the customer and keeps them up-to-date automatically, finally creating a way for firms to reduce both risk and costs at the same time. This dynamic regulatory knowledge is available through our cloud-based platform or API. Learn more at http://www.ascentregtech.com.

About VComply

Based in Silicon Valley, VComply is an internationally acclaimed Governance, Risk & Compliance (GRC) management software-as-a-service platform that makes achieving corporate governance more streamlined and comprehensive. Based on the principle of EVASTM (Entrust, Verify, Analyze and Sustain), VComply enables companies to assign compliance responsibilities, and then categorize them under laws, certifications, audits or regulations & standards. Companies can then track their execution and monitor compliance status all from a central dashboard. Over 5,000 users across more than 100 countries currently leverage VComply’s GRC management platform to oversee compliance operations and establish a culture of good governance. VComply has a global presence with offices in California & multiple locations in India. Learn more about VComply at www.v-comply.com.

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Ascent’s solution ensures global financial firms can comply better and more cost-effectively in light of increasing regulatory burden.

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Chicago IL (March 24, 2021) — Ascent announced today that its AI-driven platform is now capable of supporting financial regulators around the world, providing a clear path for businesses trying to make sense of complex regulation.

“Ascent is a technology company that has productized regulatory knowledge. That means that customers don’t have to keep paying more for service engagements, because ultimately Ascent delivers regulatory knowledge as a product.” —Brian Clark, President and Founder

Ascent generates a complete set of obligations targeted to each customer, which automatically stays up-to-date with changing regulation. Ascent’s obligations are both targeted to the customer and granular i.e. the individual requirements imposed on the firm, not an entire rule or large block of text that must be further analyzed by compliance personnel. Ascent’s offering of targeted regulatory knowledge is unique in the market and is a groundbreaking new way for firms to keep up with regulation without increasing costs. 

“Ascent is a technology company that has productized regulatory knowledge,” said Brian Clark, President and Founder. “That means that customers don’t have to keep paying more for service engagements, because ultimately Ascent delivers regulatory knowledge as a product. Once a regulator is in our system, obligations can be accurately mapped to any customer within minutes.”

Ascent has no implementation fees, no hidden API or user fees, and no service costs. Unlike legacy compliance system implementations or more traditional service engagements, customers can get up and running on the Ascent platform within days. Customers can access their obligations directly on Ascent’s cloud-based platform or connect it to downstream workflows or internal documentation in a GRC or other compliance management system via API. 

“Business leaders have realized that compliance is a necessary cost to lowering their risk,” said CEO Jon Leitner. “But if approached properly with the right technology, they now are beginning to understand that they can lower their cost and risk at the same time, which is a significant competitive advantage.”

Ascent’s targeted regulatory knowledge is flexible and can be leveraged by customers in a number of ways including creating and maintaining an always-current obligations register or rule inventory, automating regulatory change management, evidencing compliance to the Board or regulators, remediation, and more. Now with the capability to support global regulators at the product level, Ascent helps financial institutions reduce their regulatory and reputational risks while lowering their overall cost to comply. 

For press or media inquiries, please email press@ascentregtech.com.  

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