AutoRek, a leading provider of automated reconciliation and financial control solutions, today announced the launch of RegToolKit®, a regulatory compliance solution designed to help financial service...
Autore: Business Wire
NEW YORK: AutoRek, a leading provider of automated reconciliation and financial control solutions, today announced the launch of RegToolKit®, a regulatory compliance solution designed to help financial services firms simplify, map and evidence their adherence to complex regulation.
"Firms are required to not only control their data, but also evidence that their processes align with regulatory rules," said Jim Sadler, Chief Product, Technology and Operations Officer at AutoRek. "RegToolKit takes the complexity out of compliance by mapping rules to controls, tracking non-conformity and providing a complete audit trail. Combined with our reconciliation platform, it allows firms to achieve full end-to-end financial control and compliance.”
Financial services firms face mounting pressure to demonstrate compliance while maintaining operational efficiency. Accurately mapping client products and services against regulatory requirements can prove complex. Sustaining this, while evidencing ongoing compliance, is even more challenging.
RegToolKit complements AutoRek’s market leading data management, reconciliation and reporting platform allowing for a consolidated data, governance and oversight solution. The platform automatically loads regulatory rulebooks periodically, helping keep financial firms abreast of any updates.
The platform provides an applicability matrix across regulatory requirements, business risks, and mitigating controls. This reduces the audit burden by providing a bird’s eye view for all legal entities and product lines. With an in-built breach register, RegToolKit can capture regulatory breaches, assign ownership and track through to remediation without relying on spreadsheets or manual audits.
About AutoRek
AutoRek is a leading provider of automated reconciliation and financial control solutions, trusted by the world's largest financial institutions for over 30 years. The company's SaaS platform automates reconciliations, data management, and reporting across asset management, payments, insurance, and banking sectors. AutoRek is headquartered in Glasgow, Scotland, with offices in New York and London. For more information, visit www.autorek.com.
Fonte: Business Wire