July 19, 2022
Ascent, the premier provider of Regulatory Knowledge Automation, announced today that they have partnered with Onspring, a leading Governance, Risk & Compliance (GRC) software, to streamline the way financial firms comply with evolving regulations.
This strategic partnership connects the power of Ascent’s RegTech platform with Onspring’s Regulatory Change 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 Ascent and Onspring integration, check out the partner information.
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.