Regulatory Technology (Regtech) and GRC Technology

Background to regtech and GRC Technology
Digital has become the new normal in recent years. Digitization is now also catching up speed within GRC. At Transcendent Group, we want to lead the development and help our clients and the industry to capture the opportunities that digitization creates. Within Transcendent Group, we capture the trends by developing our own software as well as keeping track and partnering up with others to create as much value as possible to our clients.

How we can help – what is regtech
What is regtech? The aim of Regulatory Technology is to gradually reinvent the business models in all parts of our offering, using digitization to make both internal and customer´s processes more effective. We use digital solutions internally to increase quality and efficiency in our services. We also provide digital interfaces in our service offerings. Finally, we provide regtech software to enhance the customers’ internal processes within GRC.

Services provided
We currently provide two products:

Regulatory Framework Application – RFA: 
RFA is a digital service developed by Transcendent Group that helps our clients to obtain, develop, manage, administrate, and maintain the entire internal regulatory framework. As a regulatory technology, RFA allows you to move time and resources to the most important phase – working with implementation and safeguarding a long-term sustainable business! The implementation of RFA and the development of the digital tool is performed by experts from Transcendent Group in close cooperation with the client.

RFA in short;

• RFA helps our clients obtain, develop, manage, administrate, and maintain the entire regulatory framework.
• The tool includes content such as proposal of policies, instructions and templates based on what type of business you have.
• RFA can be customized based on client needs.
• Cloud based “one stop shop” for administration, decision and reading.
• Automated tracking of regulatory changes. Transcendent Group is tracking and updating the content based on changes in regulatory requirements.
• Support for decision making and updates.
• The platform is easy to understand and navigate.

RFA-Monitor: 
RFA-Monitor is a tool that collects news from several relevant sources for regulated companies within financial services (such as FSA, EBA, EIPA, ESMA etc.). Using the dashboard, you can configure search areas of interest. Transcendent Group tags all relevant articles in the database to your chosen area.

Track record
Clients are using RFA in many ways, from using the example library (more than 2500 text modules to support development of internal governing documents) to manage and maintain their entire internal regulatory framework in the system.