Regtech
1WordFlow Comply – Compliance from the “Inside Out”
Regtech applies to new technology developed to help overcome regulatory challenges – that aims to:
- Standardise regulatory processes
- Create unambiguous interpretations of the regulations, and
- Bring a degree of automation to compliance processes.
Regtech is not only about compliance in financial services – its relevance extends to regulation across multiple industries including, for example, healthcare, energy, telecoms, agriculture, and renewables.
Regtech The Old Way – Compliance from the “Outside-In”
Most companies are perpetuating an “outside-in” approach to applying regulation to their policies.
They are manually identifying how every regulation affects every policy and procedure. This approach is:
Inefficient
Time consuming and manual
Expensive
It relies on increasing the size of compliance teams to address new regulation
Error Prone
Human error is unavoidable
Not Scalable
The same process is repeated for every new regulation
The Solution
Introducing 1WordFlow Comply
Compliance from the "Inside Out"
Our unique conversion and enrichment technology:
Standardises all content on a single platform
Converts every regulation, policy and procedure to digital web format
Enables automatic comparison all content on a single platform
Now that organisations know what topics are discussed in every policy and regulatory page, they can align their obligations from the Inside Out.
1WordFlow Comply simply conducts a database match and report.
Automatic Transformation
Analogue Word and PDF documents transformed into digital web format at scale.
Automatic Classification
Every page of every policy and regulation automatically classified and tagged.
Fully Integrated with SharePoint
A user friendly interface to SharePoint manages retrieval, workflow and version control.
Fast Results
Automatic comparison of policies, procedures and regulations takes days – not weeks
Cost Effective
No more wasting expensive analysts time on manual work.
Highly Accurate
No human error can occur in aligning policies to regulatory obligations – all documents are digital and tagged.