Releigh, NC, April 23, 2013 (GLOBE NEWSWIRE) -- RegEd, a leading provider of technology solutions for compliance and risk management for the financial services industry, announced today that it has formed a strategic partnership for brokerage data integration with jaccomo, a premier provider of securities operations technology for broker-dealers. Under the terms of the agreement, RegEd and jaccomo will work together to integrate brokerage production data with RegEd SCORETM, a powerful risk analytics platform. SCORE enables firms to actively monitor their advisors for potential behavioral risk, evaluate and act on exceptions, and identify outliers based on pre-set thresholds. Powered by RegEd's Compliance Data Warehouse, SCORE aggregates compliance data from core RegEd modules, such as advisor credentialing, disclosures, complaints and outside business activities, and integrates it with sales production and other critical business data from internal and external systems.
When advisor-related risk materializes, the firm's very reputation is at stake. Compliance executives must be able to identify and act on suspect sales practices before they expose the firm to significant risk and consequences. The SCORE enterprise solution brings together data captured across RegEd compliance applications, and integrates it with brokerage production data, such as product mix, sales concentrations and commissions available from jaccomo's jCore solution.
"SCORE for Compliance enables firms to identify and preempt risk emanating from their advisor population" stated John M. Schobel, RegEd CEO. "Both FINRA and the SEC expect firms to take a risk-centric approach to compliance. That's easier said than done. Our clients told us they didn't have a way to bring together all of the critical compliance and business information needed to identify risky compliance and sales practices among their advisor population. We are thrilled to create this partnership with jaccomo, a leader in broker dealer data integration. SCORE's compliance data and powerful analytics in combination with the brokerage data that jaccomo delivers, creates a precise, composite profile of the advisor's compliance standing and sales practices, and generates comparative risk scores across the advisor population."
Further, SCORE embeds proprietary algorithms that examine relationships among data, where the real risk exposure often hides, enabling CCOs to stay in front of potentially damaging risk exposure.
Debra Freitag, RegEd's Chief Strategy Officer points outs "jaccomo delivers real value for our clients by enabling them to bring critical brokerage production data into SCORE without having to invest in and implement a data warehouse and allocate IT resources to a substantial data integration project."
jaccomo CEO and founder Robert E. McGill IV stated "the combination of jaccomo's best-in-class data integration and RegEd's market-leading risk management technology offers the industry a powerful solution to improve business results, cut costs and reduce risk. I'm excited about our partnership with RegEd. SCORE is the solution the industry has been waiting for, and jaccomo's ability to seamlessly deliver and integrate production data removes typical obstacles that often stand in the way of effectively managing risk across a firm's advisor population".
RegEd, a StoneRiver Inc. company, is a leading provider of technology solutions for compliance and risk management serving over 800 enterprise clients, including 80 of the top 100 financial services firms. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based compliance automation for broker-dealers, investment advisors, insurance companies and their distributors. Our client-driven solutions deliver superior operational efficiency and enable firms to cost-effectively comply with state and FINRA regulations while mitigating risks before the occur.
jaccomo's software improves the productivity and reduces the risks associated with operating financial services companies. By integrating all client and account data into a single platform, jaccomo's jCore solution can then be used to find and manage quality sales opportunities, automatically track and report commissions, ensure real-time compliance and easy auditability - all while it manages and optimizes critical business processes.