Why is it so complex to manage internal bank guidelines and policies?
Do you work for a financial institution, consultancy, audit or legal firm, and wish to check the compliance of an internal directive or policy with relevant regulations pertinent to your activities? Would you like to improve the control of these company-specific documents to enhance regulatory management performance and reduce risk?
However, you are encountering difficulties:
- tedious research into sources of information that impact internal procedures;
- manual cross-referencing and checking of internal documentation with legal texts (laws, ordinances, etc.);
- lack of identification or warning of internal procedures that are outdated or need to be updated in the near future;
- a Control Framework that is poorly mastered and sometimes too succinct, due to a lack of solutions to improve it.
e-Reg, the Swiss RegTech that optimizes the management of internal banking regulations
Banks’ internal guidelines and procedures are heavily linked and interconnected with external financial regulations. In Switzerland, these include laws, ordinances, FINMA circulars and all relevant supervisory communications issued by the FDF and FINMA. They also take account of self-regulations which includes positions, recommendations and directives issued by the SBA (Swiss Bankers Association) and AMAS (Asset Management Association Switzerland).
Let’s not forget other sources of information that sometimes lead to regulatory changes. As for draft acts, they are worth keeping an eye on in terms of regulatory monitoring. In addition, emerging risks are a constant source of concern, as are Swiss and global ESG standards.
This is the level of complexity we see in banking establishments and the companies that support them. Regulatory management solutions that combine these sources of legal information with internal procedures were conspicuous by their absence. That’s why we designed our RegTech software to meet this practical need in the Swiss financial services sector.
3 reasons to entrust us with your management of internal financial regulations
Wondering why and how to integrate internal regulations into a RegTech solution? Here are the three best arguments
1. Innovative technologies for maximum efficiency in regulatory management
Entrusting the management of internal financial regulation to a RegTech means harnessing cutting-edge technologies to :
- speed up and make agile the search for information in countless regulatory sources;
- identify in a few clicks, or even automate, the detection of internal directive points impacted by a text or draft text;
- simultaneously compare an external regulatory source and an internal guideline to identify references that need updating or are missing.
2. More pragmatism in regulatory research
Our e-Reg solution enhances the pragmatic approach of legal, compliance and risk professionals when interrogating laws and policies. With this RegTech :
- you can search for internal and external information in a single place, once and for all;
- at the same time, you have answers, illustrations, clarifications and examples from the legislator (explanatory report of the act) and their integration into internal procedures.
3. Optimum formalism for managing internal directives
e-Reg offers the financial services sector, from banking establishments to consulting firms, a single data repository. It centralizes all reference documents and related obligations in a single instance.
This is a golden opportunity for regulators to reconcile the requirements of regulators and the internal guidelines of each bank. These procedures, specific to each financial institution, are designed to reflect and synthesize the applicable regulatory framework perfectly and continuously.
With e-Reg, everyone can digitize their directives and gains in agility. This means greater security for the internal repository, in a collaborative and traceable workspace, thanks to a direct link with the source texts.
Examples of how to manage your bank’s internal documentation
Here’s what our RegTech e-Reg solution has to offer
1. Automatic detection of references in internal directives that are outdated or need updating
Integrate your internal procedures and regulations into the e-Reg portal. The application automatically identifies the references to the texts they contain (articles, marginal figures, etc.). Our software also identifies those impacted by a draft act or circular.
- simplify rapid assessment of the formalization work required to be compliant on time with a new regulatory text;
- avoid regulatory oversights when a new act renders the previous one obsolete;
- help identify erroneous or out-of-date text references;
- reduce the recommendations of both internal and external auditors.
2. Search for keywords in financial institution contracts or guidelines
e-Reg is also a powerful regulatory search engine. With RegTech, you can detect keywords in contracts or internal guidelines in a matter of minutes:
- reference to lapsed, invalid or obsolete articles of laws ;
- reference to a decommissioned index (LIBOR) ;
- reference to a so-called sustainable index, as part of the prevention of greenwashing.
3. The formal review of the bank’s internal guidelines and procedures
For optimized control and management of internal financial regulations, adopt e-Reg. You’ll gain in efficiency when it comes to carrying out a formal review of directives. In just a few clicks, you :
- check for the presence of mandatory or recommended information;
- check key or common passages.
easyReg makes it easz for you to manage both internal and external financial regulations
We offer you access to the best regulatory management solution in Switzerland, in line with the country’s security standards. We remain at your side at any stage of the process, should the need arise.
Experts to help you master the RegTech e-Reg platform
Our RegTech solution is tailored to your needs. Do you work for a category 3, 4 or 5 bank? Are you subject to the small bank regime? In all cases, e-Reg can help you understand the specific requirements that apply to your bank’s characteristics and activities.
We offer individualized support when subscribing to the e-Reg application. This is the best way to quickly become self-sufficient. e-Reg users quickly come to regard it as their best solution for research, monitoring and regulatory control.
What’s more, easyReg’s experts are always on hand. They make it easy to resolve complex legal and regulatory issues.
Regular communication of information on banking regulations and e-Reg
The e-Reg platform is constantly evolving. We monitor regulatory developments. We innovate and improve the functionalities offered to e-Reg users. As a customer, you’ll stay informed on a regular basis:
- new features in RegTech software;
- interesting tips for optimizing the use of the solution;
- significant regulatory news for Switzerland;
- of our publications both on our blog and on LinkedIn.
Other services offered by easyReg for banking regulations
Our RegTech solution is designed to manage your internal guidelines and procedures. More broadly, it is a complete solution for managing and integrating all regulatory controls within a bank.
Expanded services to cover the entire spectrum of regulatory management
The management of internal regulatory guidelines is part of a much broader range of RegTech solutions that we provide. With our RegTech solution, you also benefit from a collaborative regulatory work space with all required functionalities to :
- carry out regulatory research ;
- conduct and plan your regulatory watch;
- collaborate with other teams on regulatory issues ;
- manage regulatory changes, thanks to the platform’s analyses and recommendations;
- manage current and future regulations
Customized support without subscribing to a RegTech platform
Does your organization or teams feel unprepared to adopt a regTech? Another option is to entrust your regulatory work or operations directly to us. This is possible without having to subscribe to the e-Reg platform.
Our experts take charge of your requests and deal with them on a case-by-case basis. Whether you’re looking for a regulatory watch, analysis and research work, or a regulatory change project, contact us.
For more information on these customized services :
How does e-Reg manage internal financial regulations?
In concrete terms, how can you use e-Reg to manage your internal financial regulations? Find out how our RegTech platform works. See also our article on the possibility of customizing your regulations.
A totally secure and segregated working environment to exploit all financial regulations
In order to integrate the guidelines and procedures specific to financial institutions into e-Reg, our customers decide to activate this option when subscribing. This process operates in a segregated, totally secure environment. This ensures that each e-Reg customer uses their own regulatory information, without sharing it with others.
The major advantage of this scheme is that all the regulations are constantly updated, without you having to do it yourself manually. easyReg takes care of this and makes the information available to you in real time.
e-Reg, the collaborative and participative RegTech solution for optimal regulatory project management
Collaborators and experts involved in financial regulation often lead groups of projects, or even programs, with multiple stakeholders within the banking establishment. For regulatory consultations, changes or as well as for impact studies, they work as a team. This is one of the major functionalities offered by e-Reg.
Regulatory management combines external and internal sources, but goes much further. The platform offers a dedicated and integrated workspace ideal for knowledge and expertise sharing :
Schedule your personalized demonstration here