TORONTO – February 26, 2019 – Blueprint Software, a leading provider of agile planning and regulatory change management solutions, today announced its strategic partnership with Compliance.ai, a RegTech pioneer whose financial regulatory change management platform delivers relevant content with personalized insights, obligation analysis, and risk assessment. Under terms of the agreement, Blueprint has integrated Compliance.ai’s Search API to provide Blueprint customers with comprehensive, customized, and classified financial -focused regulatory content.
The number of global regulations has increased by nearly 500% since 2008, and banks and other financial institutions have spent nearly $321 billion on compliance enforcement actions during the same period of time. As regulatory compliance becomes increasingly burdensome and costly to manage, given the growing scope and volume of regulatory change, every financial organization is feeling immense pressure to modernize manual-based compliance programs and leverage a more sophisticated and dynamic data-driven model.
“As a strategic content partner, we’re providing Blueprint customers with direct access to Compliance.ai’s regulatory content, which is updated in real time and includes millions of documents from federal, state and independent agencies that are pre-normalized and pre-classified, with all the key relevant regulatory attributes already extracted,” said Kayvan Alikhani, co-founder and CEO of Compliance.ai. “This partnership extends the reach of Compliance.ai’s data and furthers our mission of transforming the way highly regulated organizations address compliance risk through actionable intelligence.”
Through the seamless integration of Compliance.ai’s regulatory content into Blueprint RCM, banks and financial services organizations now have access to a complete and current set of applicable regulations and real-time updates. Natural Language Processing (NLP) technology auto-tags and categorizes the content, making it easily accessible to those who need it and ensures nothing is missed. Automated workflow coordinates team activities to implement regulatory change across an organization and provides exhaustive mapping across policies, controls, processes, and into IT assets and agile application development.
“The cost and risk associated with global regulatory compliance is growing at a phenomenal pace, and threatening business viability,” says Tony Higgins, Chief Technology Officer at Blueprint. “The combination of Blueprint and Compliance.ai provides an unrivaled RegTech answer to materially address this challenge.”
This partnership is forecasted to have a transformative impact for Blueprint’s financial customers and the broader RegTech market in general. Being able to access a comprehensive collection of financial services-focused regulatory content through Blueprint’s RCM will not only empower compliance teams to proactively manage the growing volume and velocity of regulatory changes, as they occur, but will also help to accelerate application development initiatives and facilitate enterprise transformations that deliver superior value to their organization without compromising on compliance.