e-Reg, the RegTech that simplifies the regulatory process

Difficulties in correctly understanding banking regulations

Swiss financial regulation is vast and complex. It takes a considerable amount of time to understand all the acts, ordinances, FINMA circulars and self-regulations.

In addition, international regulations such as those of the Basel Committee, not to mention those of the European Union, apply in certain cases. Professionals can easily forget to consider information that is sometimes contained in other regulations.

Without a RegTech tool, finding the right information takes time. Nevertheless, this would increase the quality of the analyses carried out.

The solution provided by our RegTech tool

With e-Reg’s regulatory search functionality, our customers can quickly find the paragraph they need. Furthermore, thanks to the technologies used by RegTechs, our software provides them with all the context surrounding that paragraph.

For example, to understand the context of each passage of regulation, e-Reg provides all the other texts that refer to it : acts, ordinances, FINMA circulars, messages, explanatory reports, etc.

e-Reg users also have access to all the relevant comments created in the application by their colleagues.

Complex coordination between reliable regulatory research and controlled compliance costs

Non-compliance generates risks and costs. However, compliance often comes at a high price, which banking institutions are trying to reduce.
Experts working in this field are facing a dilemma : managing an increasing amount of financial regulation while aiming to reduce costs for the business.
The high number of requests and questions from colleagues sometimes prevents compliance specialists from achieving their job properly. These contradictory constraints put a lot of pressure on these experts. These processes increase stress and reduce efficiency in complying with applicable obligations.

e-Reg, a RegTech platform that improves productivity to control regulatory risks

The e-Reg platform is designed to save time and increase efficiency at every stage of regulatory work.
Our RegTech solution for Switzerland :
– provides an overview of applicable regulatory changes in an area ;
– facilitates collaboration between financial industry employees when implementing changes ;
– offers a solution for managing and preserving regulatory knowledge ;
– Facilitates simple access to regulations through its distinctive approach to search.

Challenges faced during the implementation of regulatory changes

Before adopting our RegTech solution, our customers experience the following situations :
– Financial regulations change frequently.
– Difficulty to get an overview.
– Different regulatory sources exist and have their own timetables.
– One change can have multiple impacts.
– Projects often involve different people or departments within the bank managing a change. The bank then must coordinate the process while maintaining an overall view.
– Financial services staff has to regulatry report on progess and provide an overview.

Our RegTech technologies help deploy regulatory change

Regulatory change management is one of the RegTech features offered by our cloud-based platform. This ensures better control of the process and the tracking of actions and information.
Thus, e-Reg simplifies daily tasks of its users at every stage of a regulatory change. Its entire project management process includes actions such as :
– assigning responsibilities ;
– monitoring status ;
– documenting decisions and crucial aspects of the implemented change ;
– producing reports.
e-Reg’s collaborative features mean that everyone can work independently whenever they want, in a single place, an online platform. In this way, the project manager can easily bring together the contributions of the various parties involved. We also offer users a library of regulatory changes.
What’s more, with this technology, users can manage regulatory consultations and impact studies for regulatory changes.

Project management in financial regulation: a difficult subject

Regulation is so vast that it requires the involvement of multiple experts.
Different specialists need to work together to find the right solutions. Stakeholders need access to the relevant decisions and analyses. Frequently, the questions they ask already have an answer. Unfortunately, these answers may not always be available. Either employees can’t find the analysis, or they don’t even know it exists.
The absence of an expert with key knowledge can also greatly reduce productivity. Colleagues may not always be informed.

Our RegTech software offers collaborative solutions for managing your regulatory projects

e-Reg’s collaborative features (adding comments to regulations or regulatory changes) improve work effectiveness. Everyone can quickly find useful information and share knowledge effectively.
The technology deployed by e-Reg facilitates the management of regulatory knowledge, its conservation, and the way it is implemented. This knowledge base is also used to train new employees and manage colleagues’ absences.
Finally, our RegTech software provides practical solutions for each customer to integrate their internal guidelines, or even their own procedures, into the digital platform. Users have an overview of the regulations and measures specific to their company, which they must apply when managing projects.