Qomply Wins Most Innovative Regulatory Solution at Waters Technology Awards 2022
Qomply, a leading compliance technology firm, has been recognised as the Most Innovative Regulatory Solution in the 2022 by WatersTechnology Inside Market Data Awards and Inside Reference Data Awards.
"With our innovative technology, firms receive immediate and accurate results regarding the quality of their reporting and areas to address. This level of sophistication and detail had not been previously available as firms would have had to rely on external parties to deliver a costly and time-consuming task.", said Michelle Zak, Managing Director at Qomply.
"Many firms approach us on the basis that they know there are issues lurking in their reporting that need to be addressed quickly", continued Zak, "Within the week, they are using our technology and independently working through issues. When they require a trade modelling and operational review, they enlist the help of one of our regulatory partner firms that interact with them on the platform. Ultimately, they are in control during the entire process and services. Many firms go on to subscribe to an annual subscription as they increase their quality assurance checks more regularly with larger firms conducting checks daily."
Qomply's cloud-based, plug-and-play solutions with their straight forward interfaces further reduced the barriers as users are up and running in minutes. Most importantly, however, is that everyone can use the system and there is no need to onboard technical specialists or expert regulatory staff. Firms with limited resources and budgets are able to access the solutions.
"At Qomply, we're all about the details. Our ReportAssure platform examines every field and product type with granular, forensic detail through a sophisticated matrix of rules and data accuracy checks. Our proprietary engine is kitted out with best-in-class technology - from AI pattern recognition to accelerate the detection of common errors to the implementation of heightened level of securitization, data is protected and processing is efficient. This liberates firms from this burden and transforms their operational functions to focus their time on their core business." Zak added.
Full article in Waters Technology available here: WatersTechnology Awards Rankings
How Qomply can help
Qomply helps financial firms achieve accurate, compliant transaction reporting across global regulatory regimes, while streamlining the operational and audit demands of regulatory reporting.
Our proprietary technology combines AI, automation and advanced data analytics to deliver scalable, audit-ready reporting intelligence. Through forensic-level quality assurance and streamlined reconciliation, Qomply helps firms strengthen data quality and reporting accuracy, automate controls, simplify audit processes and lower overall reporting costs.
Our technology provides greater oversight and operational efficiency while reducing the demands on internal teams.
For firms seeking to outsource their regulatory reporting operations, Qomply also offers a fully managed service. Combining our technology with deep regulatory expertise, Qomply Managed Services operates as an extension of, or alternative to, an in-house reporting function. This flexible model enables firms to outsource reporting operations while retaining the option to bring activities in-house as their own capabilities and resources evolve.
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