Regnology has announced the launch of two groundbreaking products, Rconnect and Regnology ChatBot.
These innovative solutions represent a significant advancement in the regulatory industry, introducing automation and AI to facilitate a unified communication platform for regulated financial institutions and financial regulators.
The new products aim to simplify the complex interactions between financial companies and regulators. Rconnect, in particular, is a revolutionary platform that transforms how regulated financial entities engage with financial overseers. By incorporating AI, Rconnect enhances the efficiency of communication, minimizes manual labor, and decreases the risk of misinterpreting regulations. This tool notably expedites the process of comprehending and implementing new regulatory guidelines.
The RegTech firm is renowned for its emphasis on creating solutions that address the unique challenges of the regulatory reporting sector. The company’s core expertise lies in developing platforms that enable smoother, more effective communication between financial institutions and their regulators.
Rconnect, a standout offering by Regnology, automates and streamlines communication in regulatory reporting. The platform offers enhanced visibility and control, improving efficiency throughout the entire lifecycle of regulatory communication. By leveraging AI, Rconnect adeptly handles unstructured communication and swiftly responds to queries. Scheduled to be officially launched in Q2 2024, Rconnect is designed to be solution-agnostic, accessible to both existing Regnology clients and others.
Alongside Rconnect, Regnology introduced the Regnology ChatBot, an AI-powered support tool designed to offer immediate interpretations of new regulatory guidelines. This tool is invaluable in an industry where regulations are often subject to various interpretations, providing clarity and compliance guidance within tight deadlines. The ChatBot also plays a crucial role internally at Regnology, enhancing customer support by quickly analyzing user interactions to identify and resolve issues more effectively. The ChatBot is set to be available by late Q1 2024.
“Our mission at Regnology is to unite regulators and regulated entities to mitigate risk and help prevent financial crises,” Regnology CEO Rob Mackay said. “With Rconnect and our Regnology ChatBot, we are breaking down barriers that hinder effective communication in today’s complex regulatory landscape.”
Linda Middleditch, Chief Product Officer at Regnology, added, “Our Regnology ChatBot transforms how our clients navigate through ever-evolving regulatory frameworks. It provides real-time information critical for businesses seeking rapid comprehension of new mandates.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
