/wealth management

News and resources on wealth, investment management, robo and advisor markets worldwide.

Zedra selects Clausematch for digital transformation

Source: Clausematch

Zedra, an international provider of corporate and global expansion, active wealth, Pensions & Incentives and Fund solutions, today announces its partnership with Clausematch, a technology company developing solutions for regulatory compliance.

The company is adopting Clausematch's policy management platform to streamline compliance across multiple jurisdictions.

Zedra has acknowledged the volatile and rapidly evolving environment (regulatory, political, social, criminal) that the industry is facing. One of the most significant changes that has occurred in the personal finance space over the past couple years has been the accelerated digitisation of risk and compliance functions. The company has invested significantly in digitalisation and in the right tools to react in a timely manner to any changes. Clausematch is one of them. Its technology offers an important multijurisdictional dimension when dealing with policies and procedures, ensuring they are easy to find across the entire group and with jurisdictional variations that are easily accessible as well.

There are around 2,000 internal compliance documents, i.e. policies, procedures, standards, controls in place that Zedra is working with and a uniform system to manage compliance documentation and to shore up any inefficiencies.

"Zedra had policies and procedures that differ at group-level and jurisdictions. With the use of Clausematch, the firm created standardised templates that will guide document owners to create documents with the same look-and-feel and content structure,” said Ace Huang, Project Manager at Clausematch.

Stuart Esslemont, Global Head of Compliance at Zedra, commented: "After completing the sandboxing and the testing of Clausematch's solution, we understood that user experience is what's key to all of this. The formatting of policies and the audit trail on Clausematch are really helpful. The way the platform works avoids a fragmented approach to naming, tagging, structuring and formatting compliance documents.”

Another area that unifies the process is reporting – for example, where exact information of particular policies and procedures were last reviewed, when they are next for review, who is the owner of a document, which category a document falls into (compliance, HR etc.). Clausematch provides a single platform with solutions to those challenges, as well as standardisation, management and a structure to documents.

Theresa Powrie, Compliance Manager at Zedra, added: "Being able to see where a policy sits works well. You don't need multiple versions of a document sitting outside the system and remembering to replace them. On Clausematch, we can actually just edit a document and an automated audit trail will be maintained."

In addition to showing edits, suggestions, comments, and approvals in the audit trail, Clausematch’s Solution Consultant, Pedro Fernandes, championed the company’s dynamic chart reporting as a significant benefit for Zedra.

“With dynamic chart reports, Zedra will also be able to identify documents that are due for review or are simply overdue,” commented Fernandes.


Comments: (0)