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PRESS RELEASE

RequirementONE’s CEO Outlines the Future of RegTech

Lance Mercereau
Lance Mercereau
Nov 30, 2018 9:00:00 AM

HSBC invites industry leaders to share new best practices in regulatory compliance for financial services companies

London – November 30, 2018: To help banks tackle the rising cost and complexity of regulatory compliance, HSBC invited Martin Gorm Pedersen, the Founder and CEO of RequirementONE, to share his views to 500+ global compliance and risk professionals on how organizations are embracing cutting-edge technologies.

It’s widely recognized by industry experts that banks are under immense pressure from eternal stakeholders, including regulators, to meet customer expectations. As a result, the cost of compliance and risk mitigation over the last eight years has increased by over 60 percent for banks, nearly eliminating discretionary funds required for vital internal projects and unforeseen events.

Banks must radically change how they operate if they are to successfully and profitably compete against more nimble and agile competitors,” said Martin Gorm Pedersen, Founder and CEO, RequirementONE. “The level of transformation required is huge and, frankly, is only possible if banks, and other financial services companies, proactively embrace new technologies such as artificial intelligence to create new operating models.”

During the event, Martin Gorm Pedersen provided examples of how leading financial services companies including banks, insurers and asset management firms are simplifying regulatory compliance by using robotic process automation to connect previously disparate regulatory intelligence and compliance lifecycle processes. Companies that have embraced this technology-enabled change have strengthened compliance capabilities and ensured 100% traceability of policies, controls and procedures across the business.

RequirementONE’s CEO also explained to attendees how organizations are reducing inefficiencies at each stage in the compliance management process, including eliminating horizon scanning costs by 80% and reducing review and approve cycle times by 50%​.

To read more about the HSBC hosted event, and the views shared by Martin Gorm Pedersen and other executives from software companies including BeInformed, NICE and Rainbird, visit www.clustre.net/hsbc-regtech-event.

About RequirementONE

Our vision is to provide every compliance organization in the world with actionable and personalized regulatory intelligence – streamed to all decision-makers employees and business systems. The fully managed RequirementONE platform uniquely simplifies compliance by automating the curation and distribution of actionable regulatory intelligence throughout the compliance lifecycle, lowering the cost of compliance management by 50%. To learn more, visit www.requirementone.com