Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that it has entered into an alliance partner agreement with Chartwell Compliance, a Washington-based provider of consulting, testing and outsourcing services in the areas of regulatory compliance, financial crimes prevention, and enterprise risk management.
While regulatory requirements continue to grow, compliance teams are showing signs of resource constraints limiting their ability to perform vital compliance functions. A recent survey by Thomson Reuters showed that more than a third of compliance professionals say they spend more than an entire working day each week in simply staying up to date with regulatory changes and assessing their impact on the business. Firms must increasingly leverage the latest technology to optimize their compliance capabilities and reduce the cost and time associated with compliance processes.
This partnership alliance will bring together Chartwell Compliance's expertise in consulting, testing and outsourcing for small and mid-market bank and non-bank financial service providers in the U.S. with the audit, risk management and compliance-related software available via the Thomson Reuters Accelus suite of products.
"This alliance combines globally reaching governance, risk management and compliance technology assets and delivery with leading human capital solutions, localized best practices and market awareness," said Michael C.A. Dempsey, global head of alliances, Thomson Reuters. "It demonstrates our commitment to bringing leading compliance and integrated GRC solutions to the global community as well as serving segments of the market where the ability to leverage technology and domain expertise are crucial in helping them tackle an increasingly complex regulatory environment."
"Chartwell Compliance looks forward to providing its diverse and affordable range of professional services to help financial institutions, payments processors, money services businesses and other financial services provides survive and thrive in the wake of the financial crisis and strict post 9/11 anti-money laundering environment," said Daniel A. Weiss, president & CEO, Chartwell Compliance. "We are honoured to partner with one of the industry's best-known providers of governance, risk and compliance content and solutions."
Through the Thomson Reuters Accelus suite of solutions, the Governance, Risk and Compliance business dynamically connects business transactions, strategy and operations to the ever-changing regulatory environment, enabling firms to manage business risk.