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Oct 31
Love0

Press Release | Ascent & Halo Ai Partnership

By News & Press

Ascent partners with Halo Ai to transform enterprise risk & compliance management

CHICAGO (October 27, 2022) — Ascent, the pioneer of AI-enriched regulatory intelligence, today announced it has partnered with Halo Ai, a leading holistic enterprise risk management platform, to transform work for risk and compliance teams through the power of automation.

Through this partnership, Halo Ai users can leverage Ascent’s enriched regulatory data to surface obligations targeted to their organization’s specific needs. Users will gain visibility over their entire regulatory landscape, ensure that they have comprehensive coverage, drive risk-based prioritization of compliance activities, and manage regulatory change.

“Ascent is producing the industry’s most targeted regulatory data available,” said Dina Ghobrial, CEO and co-founder of Halo Ai. “With Ascent’s granular and enriched compliance output, we can harness many of their endpoints to help fuel our workflow-generating AI platform. This creates a comprehensive risk and compliance platform bar none!”

By uniting Ascent’s patented AI and natural language processing technology with Halo’s Ai intelligent workflow automation, risk scoring, and decision-making engine, risk and compliance teams can stay compliant with regulatory obligations even as they change.

“I’m always excited to see our robust, granular information used by a technology partner to create an incredible user experience for their customers,” said Jonathan Leitner, President and CRO of Ascent. “By partnering with Halo Ai, we are participating in an end-to-end compliance process that is holistically powered by AI. The technologies, working together, help ensure our joint customers are empowered with the confidence they need to avoid being out of compliance with their regulators.”

Check out the whole press release here.

Jul 19
Love1

Press Release | Ascent & Onspring Partnership

By News & Press

Ascent and Onspring Partner to Streamline Regulatory Compliance for Financial Services

The strategic integration empowers users with greater visibility into and control of their unique regulatory obligations.

Overland Park, KS (July 19, 2022) – Ascent, the premier provider of Regulatory Knowledge Automation, announced today that they have partnered with Onspring, a leading cloud-based business automation and real-time analytics platform, to streamline the way financial firms comply with evolving regulations. 

This strategic partnership connects the power of Ascent’s RegTech platform with Onspring’s Compliance Management solution, leading to massive time savings and reduced risk through the use of machine learning and natural language processing. 

“Today, RegTech stands at an exciting crossroads. The need for compliance solutions in financial services has been demonstrated all too clearly, and using AI to power the solution is no longer just for early adopters,” said Matt Pugh, EVP, Product at Onspring. “By connecting Ascent’s technology to our platform, more advisors will be able to effectively manage regulatory changes and reduce their risk, in far less time and at a fraction of the cost.”

Together, Onspring and Ascent deliver end-to-end, scalable and repeatable regulatory compliance processes, enabling firms to: 

  • Turn volumes of data into targeted knowledge, minimizing the need for manual regulatory research by surfacing only relevant obligations. 
  • Unlock a clearer view of regulatory risk by mapping granular obligations to policies, procedures, and controls in a centralized view.
  • Manage regulatory change, with built-in algorithms that easily recognize change on a one-to-one basis, surfaced directly within a register of mapped obligations.

“At Ascent, we’ve found a way to pair machine-driven efficiency with human expertise from our in-house team of data scientists and legal experts. Our industry-trusted, world-class algorithms are able to ingest, parse, and analyze millions of lines of regulatory text to pinpoint the obligations that matter most,” said Dominick Campagna, Ascent’s Vice President of Sales. “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.” 

To learn more about the partnership between Onspring and Ascent, read more here.

About Onspring

Onspring provides business process automation and real-time data visualization through cloud-based software. Our no-code platform means every user can create, modify and manage automated workflows and reporting dashboards across business units without support from IT resources, providing flexibility for those who want both convenience and customization. Recognized as a leader in business automation technology, Onspring customers consistently offer 5-star reviews for its ability to deliver top solutions for governance, risk and compliance, IT service management and business operations. Learn more at: https://onspring.com/ 

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 www.ascentregtech.com.

Nov 17
Love0

Ascent and Munich Re Group Announce Groundbreaking Partnership to Protect Ascent Customers Against Fines and Regulatory Risk

By Blog

Today, Ascent and Munich Re announce a groundbreaking partnership to protect Ascent customers against fines and regulatory risk. Ascent’s AI-powered RegTech solution, already the industry leader, is first to provide this level of protection to its users.

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“Our partnership with Ascent further underscores our view of the maturation of AI as a tool to limit the probabilities of risk and is a great example of how our bespoke AI insurance and Ascent’s market leading machine learning platform is adding value at all levels.” —Greg Barats, Senior Executive, Munich Re & President & CEO, HSB

Chicago and Munich: Nov. 17, 2020 – Ascent, a provider of AI-driven solutions that identify and update a company’s regulatory obligations, announced a groundbreaking partnership with Munich Re Group, one of the world’s leaders in providing insurance and reinsurance. For the first time in the market, this partnership provides a way to insure against the potential exposure and costs associated with regulatory risk for all Ascent customers. 

Using its proprietary RegulationAI™, Ascent generates the regulatory obligations that pertain specifically to the customer and keeps them updated as rules change, doing automatically what takes individual Risk and Compliance personnel hundreds of hours per regulator to accomplish manually. This automated delivery of targeted regulatory intelligence helps banks and financial services companies reduce their regulatory and reputational risk, avoid fines, and lower their overall cost to comply.

LEARN MORE: Ascent Solution Overview

 

Munich Re Group has tested Ascent’s technology and is insuring it. This enables Ascent to guarantee that any user of the Ascent system is safe from the risk of potential regulatory fines as long as they properly comply with the regulatory obligations that the platform generates. 

Brian Clark, Ascent Founder & CEO, commented: “One of the driving factors in founding Ascent was to provide our customers with a platform that makes it easier and less expensive to do the right thing in following their regulatory requirements and managing regulatory change. This exciting agreement with Munich Re Group provides further validation for that notion. Munich Re evaluated Ascent’s groundbreaking approach to the use of AI and machine learning in analyzing regulations and understood that we were an ideal partner for mitigating and eliminating regulatory and compliance risk.”

Greg Barats, Senior Executive at Munich Re and President & CEO of HSB, a Munich Re Group company, commented: “Our partnership with Ascent further underscores our view of the maturation of AI as a tool to limit the probabilities of risk and is a great example of how our bespoke AI insurance and Ascent’s market leading machine learning platform is adding value at all levels. It enables Ascent to offer its RegulationAI™ with a performance protection that is unique to the market and gives them a competitive advantage. Their clients can adopt innovative technology with much more confidence, based on our assessment and the risk-transfer structure developed from it.”  

Ascent has been rapidly gaining momentum since its founding in 2015. Since its inception, Ascent has secured $26.7M in funding and doubled its staff. Ascent serves a range of financial institutions, including global financial firms and SMBs in the banking, securities, and derivatives industries. 

READ MORE: RegulationAI™: World-Class Technology Built for Compliance

 

To learn more about how Ascent can help you identify and manage your changing regulatory obligations, contact us directly. For fresh articles and insights on RegTech and compliance, subscribe to our monthly newsletter Cliff Notes below.

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Jul 21
Love2

Ascent Welcomes Enterprise Technologist and Entrepreneur Chuck Papageorgiou to Industry Advisory Council

By Blog

“Brian and his team have leveraged the power of AI, combined with their deep expertise in regulatory compliance to bring exponential improvements and efficiencies to compliance management. I am looking forward to adding my expertise in those areas and contributing to the vision of the company and scaling its operations.” —Chuck Papageorgiou

 

Ascent announced today that Chuck Papageorgiou, Managing Partner at consulting firm Ideasphere Partners, will be joining its Industry Advisory Council (IAC). Led by Ascent CEO and Founder Brian Clark, the IAC was formed in Fall 2019 to provide industry expertise and high-level advice to the company’s management with regards to strategy, execution, and overall growth of Ascent. 

A market-proven Executive Leader, Business Operator, and Enterprise Technologist, Papageorgiou has over 20 years of experience in leading organizational turnarounds, business transformations, M&As, and launching startups. As an entrepreneur, Papageorgiou has raised, or was responsible for over $9B in M&A, Private Equity, and startup capital and has founded multiple companies, including WorldWatch Plus, an AI-driven risk management firm. As an operator he has lead global technology companies with thousands of employees.

“Brian and his team have leveraged the power of AI, combined with their deep expertise in regulatory compliance to bring exponential improvements and efficiencies to compliance management,” said Papageorgiou. “I am looking forward to adding my expertise in those areas and contributing to the vision of the company and scaling its operations.

“Ascent is on a mission to become the world’s leading RegTech company, and we do that by gathering the best minds around us,” said Clark. “As both an operational leader and a visionary in his field, Chuck is incredibly well-suited to provide the kind of guidance to Ascent that every younger-stage company truly needs to learn and grow. We’re honored to have him on board.”

The IAC’s other members are:

  • David Rudis, Former Executive at LaSalle National Bank and Bank of America
  • Scott Gordon, Former Leader of leading futures brokerage firm Rosenthal Collins Group, LLC and the Chicago Mercantile Exchange
  • Ian Hollowbread, Head of RegTech Labs at ING

For more information on Ascent or the IAC, please reach out to press@ascentregtech.com.

Jul 14
Love2

Ascent and IBM Integrate AI RegTech Solutions to Help Financial Institutions Streamline their Compliance Operations

By Blog

“The potential of this technology for the Bank and the financial services industry more broadly is exciting. By digitising parts of the regulatory change process, and the automation of continuously refreshing data we can improve the application of regulation, efficiency for our business as well as provide greater transparency with regulators. It’s been rewarding to collaborate with our RegTech and technology partners on a project that will have such a large, positive impact for our industry.” —Jasper Poos, Head of Governance and Assurance, Commonwealth Bank of Australia

 

Chicago and Armonk, NY: July 15, 2020 – Ascent, a provider of AI-based solutions that automate regulatory compliance processes, and IBM today announced a partnership to integrate their respective RegTech solutions in an effort to help banks and other financial institutions better manage their growing and ever-changing regulatory requirements.

Specifically, IBM is integrating Ascent’s regulatory knowledge platform with its IBM OpenPages with Watson solution. Clients will be able to feed their regulatory obligations and rule changes  – which are automatically generated and updated by Ascent – into IBM OpenPages with Watson in order to better manage downstream compliance activities.

The integrated solution is designed to help regulated businesses keep better pace with today’s rapidly changing regulatory environment and help lower risk for potential fines and other supervisory actions. In addition, customers can benefit from the combined dynamic workflow capabilities and near real-time market intelligence by reducing the manual effort and time spent in transferring regulatory information between teams and disparate systems. 

The IBM and Ascent partnership was the direct result of Ascent’s successful proof of concept engagement with the Commonwealth Bank of Australia (CBA), earlier this year, wherein IBM was also a key technology partner. The companies combined the Ascent platform with OpenPages with Watson which leveraged natural language processing and AI algorithms to identify and analyze more than 1.5 million paragraphs of regulatory text from the country’s Markets in Financial Instruments Directive II. The solution allowed CBA to quickly identify terms in the regulation that they needed to review and act upon – a process that would have taken days of manual scanning.

“The potential of this technology for the Bank and the financial services industry more broadly is exciting,” said Jasper Poos, Head of Governance and Assurance at Commonwealth Bank of Australia. “By digitising parts of the regulatory change process, and the automation of continuously refreshing data we can improve the application of regulation, efficiency for our business as well as provide greater transparency with regulators. It’s been rewarding to collaborate with our RegTech and technology partners on a project that will have such a large, positive impact for our industry.” 

“AI for business is only as good as the ecosystem around it. And our collaboration with Ascent on the CBA solution is a great example of bringing innovative technologies together with purpose to help solve a growing challenge,” said David Marmer, Vice President, Offering Management, IBM RegTech. “Regulation can be complex, time consuming and costly. But with the application of AI and dynamically updated rules changes, companies are positioned to begin to operate and advance within those parameters quickly and easily.”

“We are pleased to launch this joint initiative with one of the world’s leading technology companies,” said Brian Clark, Ascent Founder & CEO. “Ascent is designed to work with OpenPages and other enterprise systems in a powerful and complementary way. Ascent’s ability to map obligations and regulatory changes targeted to the customer is a powerful workflow trigger for GRCs. We are excited about the implications it will have for our clients in financial services and look forward to helping them dramatically reduce regulatory risks and costs going forward.”

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. 

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About Ascent

Ascent was founded in 2015 to help financial services firms automate the most tedious and error-prone aspects of compliance. With customers from Tier 1 and Tier 2 banks and other financial firms around the world, Ascent provides Knowledge-as-a-Service (KaaS) as a groundbreaking new way to navigate the increasingly complex world of regulations quickly, efficiently, and most important of all, reliably. Learn more at www.ascentregtech.com.  

About IBM OpenPages with Watson

For more information about the latest release of IBM OpenPages with Watson, version 8.2, check out the IBM webinar on June 23.

View this announcement on the IBM News Room.

Media Contact:

Patrick Phalon
MacMillan Communications
(917) 689-3438
patrick@macmillancom.com

Michael Zimmerman
IBM Media Relations
mrzimmerman@us.ibm.com