In an era of ever-changing regulations and increased enforcement activity, targeted regulatory intelligence that allows users to accurately identify the information most relevant to them at any particular point is invaluable.
- Using targeted regulatory intelligence has the potential to create a competitive advantage.
- Content is crucial, but content plus the intelligent use of technology can really unlock value.
- Regulatory Intelligence delivers a focused view of the global regulatory environment, empowering compliance professionals.
Regulatory change management continues to pose a significant challenge to financial services firms across the globe. The volume and rate of regulatory change is unrelenting and compliance teams need to keep pace.
Whilst most firms fully appreciate the importance of keeping abreast of ongoing regulatory changes, there is a growing realization of the potential to use regulatory intelligence to create a competitive advantage.
Targeted regulatory intelligence can help compliance teams cut through the complexity and volume of regulatory content, and find clarity on the issues most relevant to them at any particular moment.
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Filtering out the noise
In the digital era, there is no shortage of content.
In fact, with large volumes of data readily available, many firms find themselves facing a different dilemma. The amount of content is so significant that they struggle to filter out the noise.
Content needs to have appropriate depth and breadth, but also needs to be correctly processed.
Not all content is relevant to each firm and there can be a significant amount of noise that compliance professionals need to filter out if they are to pinpoint the information most relevant to their needs.
The role of regulatory intelligence
Richard Anderson, Product Management Director, says that regulatory intelligence has had the biggest role to play in the area of regulatory change management.
He adds: “Content is crucial, but content plus the intelligent use of technology can really unlock value.
Correctly applied, technology can be a game-changer: it classifies data, ensuring that the most relevant information is delivered to decision-makers.
Filtered, classified data that is actionable at the point of delivery is an enormously important component of effective regulatory change management.”
Anderson also notes that content needs to be fed intelligently into client systems to automate workflows: “Technology has a critical role to play and regtech is starting to develop in these areas.”
A challenging backdrop
The regulatory landscape has been characterized by a recent period of significant change.
Far-reaching legislation, including MiFID II, has impacted the role and importance of regulatory intelligence.
Moreover, unfolding geopolitical events — including Brexit and potential changes in U.S. regulation — mean that it is critical for regulatory intelligence teams to keep abreast of all changes and understand their potential impact.
This once again highlights the importance of ensuring that content is filtered and processed so that individual compliance teams can quickly and easily find the signal in the noise.
Regulatory Intelligence delivers a focused view of the global regulatory environment, empowering compliance professionals to make informed decisions to manage regulatory risk with confidence.