FinregE Digital, Machine Readable Regulation Libraries
Machine readable regulation has the potential to bring huge efficiencies in managing regulatory compliance.
Digital machine readable regulation libraries are an innovative solution for managing governance, risk and compliance with regulations and laws. These libraries provide a centralized, easily accessible location for all regulations and laws that apply to an institution, which can be searched, analyzed, and understood by governance, risk and compliance users within the institution.
Why use FinregE?
FinregE delivers digital, machine-readable regulation libraries via its Global Library solution module. Our Global Library provides a single place for an organization to view all its laws and regulations with the following features:
What are digital, machine-readable regulation libraries?
Digital machine-readable regulations and laws typically have the following features:
Benefits of having a machine readable rule libraries?
The benefits of digital machine-readable regulation libraries include:
Improved access and transparency
Having a digital regulation libraries of a firm’s applicable regulations and laws allow for easy access and searchability of regulations and laws in a single place, thereby saving time in looking for rules scattered over multiple web sources.
Enhanced efficiency and accuracy
Digital regulation libraries can be processed and analyzed more quickly and accurately by users, driving speed in certain tasks, such as legal interpretation and compliance checks.
Better collaboration and communication
Digital regulation libraries can be shared and discussed more easily among different stakeholderswithin an organization, facilitating more effective communication and collaboration in the implementation, understanding and compliance with the regulatory requirements.
Better preservation and archiving
Digital regulation libraries can be stored and preserved more easily than paper-based versions, providing a maintainable audit trail regulations and regulatory footprint.
Better tracking of changes and updates
Digital regulation libraries can include metadata, such as dates of effect and amendment history, which allows for automated tracking of changes and updates.
Better integration with other systems
Digital regulation libraries can be integrated with other systems, such as governance risk and compliance systems and other regulatory reporting and compliance system, which allows for easy access and integration with other systems.
By providing a clear and accurate picture of regulatory obligations, digital regulation libraries can help organizations ensure compliance with all applicable laws and regulations, by maintaining a compliant environment against a legal and regulation footprint.
Better decision making
By providing accurate and up-to-date information, digital regulation libraries can help organizations make better-informed decisions, whether it be in the context of business operations or public policy.
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