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Programmatic Compliance is a revolutionary platform that enforces compliance programmatically at every step of the process. From the rules as drafted, to the rules as executed.
About
REGnosys focuses on rules-based, data-driven regulations. Our solution is a cohesive platform that embeds complex rules as transparent, executable logic, packaged into a cloud-based software that directly plugs into your organisation’s workflows. Firms' compliance implementations become auditable, traceable and programmatically tied to the rules, from input to output. This scalable compliance solution dramatically cuts the costs and risk of having to support your own complex implementation. "Rosetta" is the key innovation at the heart of REGnosys’ platform – The technological trick that enables the magic of Programmatic Compliance. Rosetta consolidates the disparate technical practices of the industry: data standards, business workflows etc., into a single, digital repository. Rosetta is able to tie the regulatory provisions as codified rules into these practices, in a way that is clear and easy to navigate. REGnosys’ platform uses Rosetta to convert regulatory texts into transparent, executable workflows. And thanks to Rosetta’s in-built mapping of business practices, these workflows become easy to plug into your firm’s proprietary systems. Rosetta therefore enables a complete redesign of the industry’s regulatory infrastructure, enabling "Machine Executable Regulation" to become reality. For REGnosys, Rosetta is an industry asset that belongs to one place only: the open source – And that is just where we are building it.
Key Benefits
The reduced cost and complexity of compliance makes the whole regulatory implementation cycle lighter and more efficient for the industry. For firms. No more dissecting through multiple systems and thousands of lines of code: with Programmatic Compliance, evidencing compliance comes right at your fingertips. Simpler compliance systems mean immediate reduction in maintenance, operation and audit costs. Mutualising such infrastructure achieves additional economies of scale and ultimately allows firms to be much more effective in their compliance at a fraction of the current cost. The free Rosetta resource attracts users and spurs the development and adoption of further efficiency solutions, under a proven paradigm in the financial industry (e.g. MarkitSERV based on FpML). For regulators. Programmatic Compliance provides regulators with assurance that firms do comply in a more transparent and automated way. It increases the quality and usability of collected data. By facilitating standards convergence, Rosetta can in turn act as a digital testing ground for future rule-making.
Applications
MiFID II, Dodd Frank, EMiR, SFTR.