Raleigh, NC, March 31, 2016 (GLOBE NEWSWIRE) -- RegEd, a leading provider of compliance technology to the financial services industry, has published an Analyst Report from GRC 20/20 Research, an independent analyst of governance, risk management, and compliance solutions (GRC). The report, authored by Michael Rasmussen, President of GRC 20/20, offers an objective evaluation of the CODE enterprise platform based on an extensive technical capabilities assessment and in-depth interviews with RegEd clients. The report describes CODE as delivering "an integrated and harmonized architecture to manage compliance in the context of today’s demanding requirements," and commends RegEd’s subject matter expertise as indicative of an “intimate understanding of regulatory change, particularly for financial services.”
Remarking on the report, Mr. Rasmussen said, “Firms across the financial services sector face a daunting challenge in managing regulatory change. The volume of new and changed rules and regulations continues to grow at an unprecedented rate, while assessing the impact each change will have on the business becomes more complex.” Rasmussen continued, “Against this backdrop, firms that rely on a manual, document-centric approach to monitoring and managing regulatory changes are bound to fall short. Organizations must have a systematic process for managing regulatory changes and a holistic view of compliance that extends to areas including policies and procedures, regulatory exams, and incidents and complaints. Based on our evaluation, CODE provides a framework for managing these critical compliance processes and enables RegEd clients to improve efficiency and manage non-compliance risk.”
The report offers a distillation of RegEd customer insight, including the factors that typically result in selection of the CODE platform. “Most RegEd clients that GRC 20/20 has researched and interviewed moved to the CODE solution because they found their manual, document-centric approaches consumed too many compliance resources, and, as a result, compliance obligations were slipping through cracks in the continuous barrage of regulatory change. Other organizations moved to CODE because their existing compliance management solutions were too rigid and lacked the agility to adapt or could not address the entire compliance process,” the report states. It continues, “RegEd clients choose the CODE platform for its workflow and task management capabilities, price, accuracy of regulatory information, and ease of use, which helps drive ready adoption across the organization.”
In the report, Mr. Rasmussen outlines the core capabilities of CODE that facilitate management of regulatory change, policies and procedures, regulatory exams and incidents/complaints. Among those cited as “foundational capabilities” are the solution’s high degree of configurability, integrated proprietary regulatory intelligence, sophisticated workflow and task management, enterprise reporting and dashboards, audit trails, document management, and robust functionality supporting compliance questionnaires, assessments and surveys.
Based on in-depth interviews with RegEd clients, the report summarizes the benefits that have been realized by firms as a result of utilizing the CODE platform. Among other outcomes, the author cites significant efficiencies in time gained through automation of workflow and tasks, improved accuracy and uniformity of compliance information, enhanced accountability and ownership of compliance responsibilities and streamlined relevance/impact analysis of regulatory changes. In addition, RegEd clients indicated CODE enables increased transparency and visibility into the status of compliance tasks and audit trails that support a defensible, evidence-based approach to compliance that regulators demand. The report concludes, “GRC 20/20 finds that RegEd CODE provides the greatest value in managing the lifecycle of compliance information across regulations, policies, incidents, and exams. As many organizations respond to growing regulatory requirements exposure they are finding the need for a solution to automate the lifecycle of compliance across these areas.”
“We’re happy to have the value that CODE delivers validated by RegEd’s customers and further confirmed by independent research,” said Debra Freitag, Chief Strategy Officer at RegEd. She continued, “As organizations move beyond manual approaches to compliance and look to reinforce their enterprise GRC architecture, we’re confident that CODE represents a solution that uniquely combines deep domain expertise with robust enterprise technology, providing unparalleled benefits in compliance management efficiency and effectiveness.”
RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers. RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk. For more information, visit www.reged.com.
Madelyn Matthews 919-653-5202 Madelyn.firstname.lastname@example.org