Jan 20, 2021
Regulatory technology, commonly referred to as “Reg Tech,” is technology that assists regulatory agencies in managing how information is stored, used, shared and discarded in accordance to compliance efforts.
As Jeff Heigert, Hyland’s Senior Customer Advisor for Insurance, explains, there are more than 750 regulatory bodies across the globe producing over 2,500 rule books relating to compliance. Organizations dedicate millions, if not billions, of their annual budget to comply because, as costly as compliance is, the consequences of non-compliance outweigh it all.
Join Jeff and his colleague Chad Kerns, Hyland’s Product Manager for Financial Services and Insurance, for a chat about what Reg Tech is, and its support for banking institutions, insurance agencies, mortgage companies and others throughout the entire regulatory life cycle. From regulating data management to reducing the time and financial cost of maintaining compliance by automating regulatory process, Jeff and Chad tag-team an interesting conversation that tackles how simple Reg Tech solutions are making a significant difference for global, cross-industry organizations and their customers. And if you’re an OnBase user, you won’t want to miss Chad’s breakdown of Reg Tech solutions and easily-implemented capabilities, like multi-factor authentication, document encryption and redaction, online viewing identity protection and security keywords, which are simple to learn and, ultimately, reallocate manpower and capital resources to higher-level initiatives, like customer engagement and satisfaction.