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Transcendent Group launched a new innovative and digital product within their business area RegTech (Regulatory Technology). RegTech aims to be at the forefront of digitalization of GRC-services (Governance, Risk and Compliance). The first RegTech product - RFA (Regulatory Framework Application) digitalize the Compliance function as it lets the users obtain, develop, manage, administrate and maintain the entire regulatory framework through a digital platform.
RFA has already been launched and are used by several clients and we believe that RegTech has great potential for rapid growth. The digitalization is a fact in all industries and GRC is not an exception. Transcendent Group believes that the digitalization within GRC will solve plenty of needs and be of great importance for the service offering over the next few years. Transcendent Group has started their digital journey by renewing, supplementing, and refining their services by using digital technology.
RFA is a subscription product primarily made for companies regulated by the Financial Supervisory. Today, most compliance functions are forced to spend most of their time of the internal regulatory framework process on developing, updating and maintaining policies, instructions and guidelines. RFA is a digital tool that will do all of that for you! It digitalizes the administration, decision and reading and allows you to move time and resources to the most important phase – working with implementation and safeguarding a long term sustainable business!
– Transcendent Group’s digitalization of the Compliance function is great for our clients, as it gives them an effective, high quality solution. This means that our clients can get a better price without compromising on the quality and put more time on the more fun part of the Compliance work – working with implementation and safeguarding a long term sustainable business! Says Martin Malm, CEO Transcendent Group.
Transcendent Group updates RFA with new rules on outsourcing
RFA was launched during spring 2019 and it’s time for the first update as new rules will apply to outsourcing from the 1st of October. The new rules mean that policies, instructions and processes need to be updated. As a RFA user, you can easily make the necessary changes as the digital tool will be updated according to the new regulations.