About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Thomson Reuters Builds Out Regulatory Change Management Offer

Subscribe to our newsletter

Thomson Reuters’ release of Regulatory Change Management is designed to help financial institutions harmonise their approach to regulatory change and compliance, mitigate risk and reduce administrative costs. The introduction of RCM follows Thomson Reuters’ acquisition of UK-based regulatory technology provider Empowered Systems in March 2016.

RCM is offered on Thomson Reuters’ Connected Risk platform and is a compliance workflow with a dashboard that allows compliance teams to connect standardised regulatory rules to their own procedures, and tailor the information they receive and frequency of notifications about regulatory changes, essentially letting them see regulatory change, ensure change is made to their processes and all necessary data is added for compliance.

The solution is web-based, or can be licensed as stand-alone software, and maps regulatory content from Thomson Reuters’ and third-party platforms to firms’ internal policies and procedures, allowing them to consolidate processes and cut duplicative processing across regulations.

Gareth Evans, managing director of Enterprise Risk Management at Thomson Reuters, says the company already offered solutions providing regulatory content, but saw the need for more versatile technology as the volume of regulation grew. RCM is based on Empowered Systems’ technology that provides more flexibility and the ability to improve the mapping of regulatory change to firm’s processes.

He explains: “Organisations used to recruit individuals to drive compliance programmes for each new regulation, but there is a huge overlap across regulations. To harmonise regulatory compliance processes, people need to come together and map all regulations to a single view of the business. RCM can help here.”

Thomson Reuters is initially targeting RCM at Tier 1 banks and fund managers in the Americas and Europe, although it plans to extend its reach to Asia Pacific later this year.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Solving the operations talent crisis

Date: 26 January 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the...

BLOG

A-Team Innovation Briefing Discusses Data Mesh, Transition to Cloud, Use of AI

A-Team Group’s Innovation Briefing series got off to a great start in London last week with an event dedicated to innovation in cloud. The briefing included practitioner interviews, provided insight into how to modernise data infrastructure, and reviewed technologies driving change. The case for data mesh Kicking off the briefing, and raising several delegate questions,...

EVENT

A-Team Innovation Briefing: Innovation in Cloud

This Innovation Briefing will explore approaches to data infrastructure transformation, technologies required and how to make sure processes are optimised to support real time data management. Hear from leading practitioners and innovative technology solution providers who will share insight into how to set up and leverage your data infrastructure to provide user access to consistent data and analytics, and companies the ability to monetise their data.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...