Ascent unveils new automated regulatory monitoring tools to boost businesses’ compliance efforts

From: RegTech Analyst

Having been named one of the most innovative RegTech companies in the world by taking a place on the coveted RegTech100 2020 list, Ascent is now revealing a new solution to improve business compliance.

The developer behind AI-driven solutions that helps customers automate regulatory compliance has announced the launch of its new regulatory monitoring and intelligence solution.

“Ascent was founded in response to the 2008 financial crisis, so we are keenly aware of the challenges that risk and compliance teams – our customers – are facing in today’s climate,” said Brian Clark, founder and CEO of Ascent. “Helping customers successfully navigate their changing regulatory requirements has never been more important, and the addition of our new regulatory monitoring solution better positions us to do that going forward.”

Ascent hails the new enhanced regulatory monitoring tool as a natural complement to its suite of AI-powered compliance automation solutions that allow customers to identify, track, and manage their changing obligations. With Ascent’s regulatory monitoring tool, customers can consume and triage regulatory updates and other content, as well as connect them to their obligations in a streamlined flow. This content includes contemporary updates from regulators regarding COVID-19.

Due to the crucial nature of being able to monitor one’s entire regulatory landscape — especially in unstable market conditions — Ascent is offering every customer one free user license for an unlimited number of regulators.

“Despite being in the midst of a global health crisis, regulators are not pausing; they are continuing to publish rule updates, emphasizing some rules over others given the changing market conditions,” said Jeff Heine, Ascent Chief Revenue Officer. “Companies cannot afford to miss those changes, and frankly they have less time to do so. We are committed to helping our customers succeed in this new environment, and that includes enabling firms to comply more cost-effectively than traditional methods.”

The enhanced regulatory monitoring solution will provide Ascent customers with benefits including such as bringing in all rule updates, guidance notes, speeches and other regulatory documents are consolidated in one place.

Ascent also said customers can save over 20 hours per regulation in monitoring rule changes from disparate sources. Moreover, customers can also get an idea of where regulations are heading, with its continuous horizon scanning tool giving business leaders the ability to adapt faster to future changes.

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