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Game-changing 2nd Gen RegTech Launched by Evidology Systems Addresses Challenges of Principles-based Regulations

November 15, 2019

 

RegTech company, Evidology Systems, is launching a unique service combining real-time specialist legal opinion with principles-based regulations compliance software. Seen as a true second-generation solution, QED (Quality and Evidence Driven) is the only platform optimising the process of demonstrating compliance to regulation or standard. This visual system utilises current legal opinion to allow organisations to demonstrate compliance at all times with regulations including GDPR, FRTB, SMCR, ISO 27001 and PSD2.

 

Rupert Brown, founder and CTO of Evidology Systems, says: “Principles-based regulations are a guessing game: they are deliberately formulated without set parameters. QED is unique in addressing the legal requirements of compliance, with regulators and companies in mind and can be used to standardise regulations by both.”

 

Based on an argumentation analysis engine, QED gives organisations access to the latest legal argument and supporting evidence, enabling firms to prove compliance when challenged, and trace corporate and individual actions and responsibilities.

 

Brown adds: “Other solutions repurpose existing capabilities, for example using big data from email and comms surveillance to address conduct risk. QED is a second-generation solution because we’re offering an entirely fresh approach.”

 

Bob Ford, independent consultant, SME, Payments, says: “Evidology provides the critical traceability and coverage assessment that is vital to ensuring compliance in the complex minefield of payments regulations.”

 

QED can be implemented in days, without affecting underlying systems and provides visual representations of regulatory compliance viewed from any browser (desktop/mobile). The Evidology platform enables a wide range of data analysis tools, and the standardised data can be used in other business operations.

 

“At 3 Lines of Defence Consulting Ltd we focus on Cyber, Information Security and GDPR compliance and we feel that Evidology provides a bespoke tooling that allows you to visualise where your lines of defence are constructed and the industry-standard methodologies which support them,” says Nick Murphy, Director (Associate), at 3 Lines of Defence Consulting Ltd.

 

Key features include:

  • Tracking evolving regulatory drafts and case law

  • Sustaining compliance proof

  • Focusing on known unknowns

  • Reducing the cost of producing a defence through standardisation

  • Used by regulated companies and regulators

Evidology’s QED identifies individual and corporate responsibilities and risks; combined with specialist legal argument providing far greater confidence in compliance.

 

All credits to the source below:

https://www.prnewswire.com/news-releases/game-changing-2nd-gen-regtech-launched-by-evidology-systems-addresses-challenges-of-principles-based-regulations-300956659.html

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