RegTechONE: An orchestrator for your tech stack and workflows
Financial institutions today often contend with a wearying amalgam of legacy technologies and cutting-edge RegTech. Moving on from legacy systems takes time and effort, and integrating valuable new tools can be daunting. That's why an orchestration platform can deliver extraordinary value--with major competitive advantages. With platform technology orchestrating your tech stack and workflows, what seemed impossible becomes relatively easy.
The RegTechONE platform delivers on this vision of orchestrated Governance, Risk, and Compliance. Yes, RegTechONE provides?everything?institutions require for?bespoke?AML Compliance. But more importantly, RegTechONE—at its platform-architecture API-based core—is a tech-stack orchestration and workflow-orchestration platform.??And it pushes these competitive advantages even further with its vast utility via no-code workflow creation. Firms using RegTechONE achieve previously unimaginable levels of precision, flexibility, and efficiency. Core capabilities include the following:
True?no-code workflow design
When we say no-code, we mean it. Permissioned users drag and drop to add, edit, reposition, copy, or delete information fields of varying types. Users can recreate?bespoke?workflows that align precisely to any need—vendor management; client lifecycle management; Risk Management of employees and managers; process tracking and management, and so much more.
Automated workflow orchestration via Event and Action Libraries
RegTechONE uses Event and Action Libraries to orchestrate automated workflows to users’ exact requirements.??Consider this example:?
Most banks categorize commercial customers into different types. These customer types reflect an institution’s collective knowledge of that customer type’s current and future banking needs, transactional behaviors, sector trends, other predictable Risk elements, and much more.?
During setup or later editing, authorized users can add and populate a RegTechONE dropdown list with the bank’s full list of customer types. When a relationship manager assigns a specific customer type to a new customer during onboarding, RegTechONE recognizes this as an Action—an action that triggers an event. In response to the Action of selecting a customer type, RegTechONE initiates the Action of selecting the Risk Model for that customer type and populating a new KYC record with pre-configured questions specific to that customer type.??
RegTechONE automatically monitors and manages configured Events and Actions systemwide. A different Action—such as saving a record—could trigger an Event that in turn will call one or many pre-configured Actions. The Actions might include calling sub-workflows that are completely conditional and specially permissioned.?
In short, RegTechONE can simplify, orchestrate, and automate nearly any workflow process—according to the exact specifications assigned by the authorized user. In this way, RegTechONE manifests precisely the Risk-based Approach created by an institution in its efforts to manage Risk.
Firms that prioritize careful attention to process and Risk Management achieve the highest levels of fidelity of implementation of their exact processes—with the highest levels of efficiency—via RegTechONE.??
API-based flexibility and extendibility, both internally and externally
API technology has revolutionized what a single orchestration platform can achieve, and RegTechONE is a great example of that. Internally, RegTechONE uses APIs to move data among different parts of the platform, and it uses APIs for many other processes, as well. Because RegTechONE is an API-based platform, users benefit from previously impossible increases in functionality, flexibility, and data-handling agility.?
Externally, institutions using RegTechONE can integrate myriad tools via API interfaces. Our customers, for example, love being able to use API to pull data from and push data to other systems. These push/pull actions can be internal to our customers’ own systems or moved securely out over the internet.??Multiple external systems can be pulled into and pushed out of any workflows on the system. And?institutions control everything?through RegTechONE’s Action and Event Libraries.??
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Automated document storage and monitoring
?RegTechONE stores any document uploaded. And the Action and Event Libraries will monitor documents with expiration dates and notify pre-configured users of upcoming expiration dates so that fresh documents may be obtained in a timely manner.??
Editable labeling for user interfaces in language of choice?
In an effort to maximize flexibility and user experience around the world, permissioned users of RegTechONE can customize labels—because the labels are not hard-coded. An institution can choose to customize labels simply by creating and uploading a list of desired translations. And this can vary by user within an institution. Easily editable labeling is just one more way that RegTechONE delivers flexibility and no-code ease to improve efficiency, effectiveness, and user experience.
No-code Multidimensional Risk Engine
Every business in the world seeks to understand Risk, or they don’t survive. As Risk Mitigation specialists, we at AML Partners prioritize Risk Management in everything we do—and that is especially true of RegTechONE.?
To that end, RegTechONE boasts a complete no-code Risk Management engine at the core of its design.??By configuration rather than coding, authorized users create Risk models that are fed automatically by data inputs and Action and Event Monitoring. Further, two Risk Modelling types are available: Simple summation or the Weighted Average method. And because RegTechONE features multi-dimensional Risk modeling, users can have models that feed models that feed other models.?
With RegTechONE, users achieve comprehensive and finely grained Risk insights—that update automatically as conditions change.?
No-code notification system for enhanced updating and accountability
Doing business requires nonstop paperwork, approvals, and renewals. RegTechONE automates notifications, tracking, and accountability for these tasks. Users configure the Action and Event Libraries to notify reviewers/approvers though email that action is required, and the system preserves the notifications.
And with no-code configuration, users can choose how they will automate notification details for each item individually.??These options include who to notify, when to notify, whether to repeat notifications multiple times if actions haven’t yet occurred, and whether there will be multilevel review requirements. With configured reminders that feature transparent accountability, tasks get done.
In a Nutshell
RegTechONE is an AML/KYC powerhouse.?AND?it is so much more. RegTechONE makes possible tech-stack orchestration and no-code workflow creation and orchestration–with onboard Risk Management, monitoring, and automation. The RegTechONE advantage is limited only by its users’ needs and imagination.?
RegTechONE delivers a competitive advantage through its range of services. And it provides even greater traction to users because it was built to pull in information from many sources and workflow that information through users’ own processes. RegTechONE users embrace this no-code development platform—because it gets them ‘there’ faster, better, and cheaper.??And RegTechONE can extend the life of an institution’s legacy systems by pulling data, work-flowing it, and putting back a different result.??
What can ONE do for you??Whatever?you need.