Regnology, a software provider with a focus on regulatory reporting solutions, unveiled two new product offerings, Rconnect and Regnology ChatBot. These innovative solutions mark a significant leap forward for the regulatory industry, leveraging automation and AI to unite regulated financial institutions and financial regulators on a single, streamlined communications platform.
Rconnect serves as a game-changing platform that revolutionizes how regulated financial companies interact with financial regulators. Assisted by AI, Rconnect streamlines communication between both parties, eliminating manual efforts and reducing the risks associated with misinterpreted regulations. Furthermore, Rconnect accelerates the clarification process for understanding and implementing new regulations efficiently.
Rconnect streamlines and automates the communication between the regulators and the financial institutions they regulate. The solution provides greater visibility, control, and efficiency for all parties across the full lifecycle of regulatory reporting communication. Rconnect leverages AI to deal with unstructured communication and efficiently answer queries.
Rconnect, which will officially be rolled out in Q2 2024, is solution agnostic and available to both Regnology clients and non-clients.
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In addition to Rconnect, Regnology introduced its an AI-powered support tool, Regnology ChatBot. In an era where regulators publish subjective regulations that can lead to confusion among industry players, Regnology ChatBot steps up as a reliable source for immediate interpretation of new regulatory guidelines. This empowers both regulators and those they regulate to gain prompt clarity on their obligations while ensuring compliance within stringent timelines.
The benefits of Regnology ChatBot extend beyond external applications. Internally at Regnology, the chatbot enables support teams to gain deeper insights into customer issues by swiftly analyzing user interactions during problem encounters, leading to an overall improved customer experience. The chatbot will be available in late Q1 2024.
“Our mission at Regnology is to unite regulators and regulated entities to mitigate risk and help prevent financial crises,” said Rob Mackay, CEO of Regnology. “With Rconnect and our Regnology ChatBot, we are breaking down barriers that hinder effective communication in today’s complex regulatory landscape.”
Linda Middleditch, Chief Product Officer at Regnology, shared her insights on these new products saying, “Our Regnology ChatBot transforms how our clients navigate through ever-evolving regulatory frameworks. It provides real-time information critical for businesses seeking rapid comprehension of new mandates.”
SOURCE: Businesswire