Gamification start-up True Office has formed a product development and distribution partnership with Thomson Reuters which will see the pair create regulatory and compliance training applications for the financial services world.
The deal brings together True Office's expertise in gaming, mobile applications and analytics with Thomson Reuters' governance, risk and compliance content to develop a suite of new products covering things such as anti-money laundering, data privacy and Dodd Frank.
The pair claim that their offering will enable financial institutions to more effectively plan, manage and implement compliance training programs and assess risk across their organisations.
Andrew Neblett, MD, enterprise risk management, Thomson Reuters, says: "The combination of gamification technology and analysis with high-quality risk and compliance e-learning content will be of real benefit to our clients. It will allow them to clearly identify and track areas where compliance training may be needed within their organisation and respond to those needs as well as accelerating the businesses ability manage and mitigate risk."
Enterprise gamification is a fast growing business, with the worldwide market predicted by Gartner to grow from $242 million in 2012 to $2.8 billion in 2016.
The buzz around the concept saw True Office made one of the six members of the FinTech Innovation Lab Class of 2012 in New York. There, it gained at least one fan, lab executive-in-residence and former SunGard CEO Cristobal Conde, who quickly joined the start-up as executive chairman.