{"id":4460,"date":"2019-03-22T12:44:51","date_gmt":"2019-03-22T12:44:51","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=4460"},"modified":"2019-03-22T12:44:51","modified_gmt":"2019-03-22T12:44:51","slug":"ascent-adds-seven-new-regulators-to-its-platform","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/ascent-adds-seven-new-regulators-to-its-platform\/","title":{"rendered":"Ascent adds seven new regulators to its platform"},"content":{"rendered":"

Compliance automation platform\u00a0Ascent RegTech<\/a>\u00a0has launched seven new regulators into its platform.<\/strong><\/p>\n

The new regulators are: US-based FFIEC (Federal Financial Institutions Examination Council), FRB (Federal Reserve Board), OFAC (Office of Foreign Assets Control) and FinCEN Chapter X (Financial Crimes Enforcement Network). Singapore-based SGX (Singapore Exchange Limited) and MAS (Monetary Authority of Singapore) and Australian regulator ASIC Corporations Act (Australian Securities and Investments Commission).<\/p>\n

Ascent is an end-to-end compliance platform which uses natural language processing and artificial intelligence to convert regulatory text into workable tasks. Data is collected from a selection of channels and includes historical and real-time documents\/rules directly from regulators, personalised for each business.<\/p>\n

The platform extracts specific obligations from the regulatory texts and boils it down to workable tasks. Its solution gives a targeted feed of new regulations and rule changes which apply to the client, and indicates how their daily tasks, controls and policies and procedures will be impacted.<\/p>\n

The platform supports regulating bodies around the globe and is always adding more to the platform.<\/p>\n

The RegTech startup\u00a0recently joined the Wells Fargo Startup Accelerator,\u00a0<\/a>alongside connected wearable device developer. Wells Fargo launched its accelerator in 2013 and has 23 startups in its current portfolio. Participants are eligible for funding of up to $1m.<\/p>\n

In an interview with RegTech Analyst<\/a>, Jeff Heine, chief revenue officer at Ascent Technologies said that RegTech can bring benefits to a range of sectors outside of financial services; however, regulators could do more to raise awareness for the burgeoning space.<\/p>\n

Last year, Ascent RegTech was again listed in the RegTech 100 list, its second consecutive year of making the 100.<\/p>\n

Copyright \u00a9 2019 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"

Compliance automation platform\u00a0Ascent RegTech\u00a0has launched seven new regulators into its platform. The new regulators are: US-based FFIEC (Federal Financial Institutions Examination Council), FRB (Federal Reserve Board), OFAC (Office of Foreign Assets Control) and FinCEN Chapter X (Financial Crimes Enforcement Network). Singapore-based SGX (Singapore Exchange Limited) and MAS (Monetary Authority of Singapore) and Australian regulator ASIC… <\/p>\n

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The new regulators are: US-based FFIEC (Federal Financial Institutions Examination Council), FRB (Federal Reserve Board), OFAC (Office of Foreign Assets Control) and FinCEN Chapter X (Financial Crimes Enforcement Network). Singapore-based SGX (Singapore Exchange Limited) and MAS (Monetary Authority of Singapore) and Australian regulator ASIC... 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