New Alliance Combines PerformLine’s Innovative Regtech Platform with Protiviti’s Risk Management and Regulatory Compliance Expertise
To address the need for the financial services industry to perform required compliance activities more efficiently at reduced cost, regtech solutions leader PerformLine and global consulting firm Protiviti have formed an alliance to deliver an automated SaaS solution for compliance monitoring. This combination of PerformLine’s technology and Protiviti’s risk management expertise enables companies in financial services as well as other regulated industries to deploy automated first-line-of-defense marketing and sales compliance surveillance over their digital, voice, e-mail, chat and social media interactions with consumers to mitigate regulatory risk and fines, and ensure brand safety.
“The level of regulatory scrutiny financial institutions face remains extremely high, and the channels they use to communicate with their customers and the market at large continue to expand and grow ever more complex. We hear consistently that they would not be able to effectively manage their risks in this area using the manual ‘brute force’ approaches of the past,” said Alex Baydin, CEO of PerformLine. “Our technology solution brings better coverage, deeper insights and lower costs to critical compliance functions.”
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As PerformLine’s user base has continued to grow, the firm’s clients have increasingly asked for additional advisory support to optimize the use of its technology and integrate it seamlessly into their overall compliance programs. Through the alliance with Protiviti, which brings its expertise in risk and compliance consulting, technology and internal audit solutions, PerformLine’s customers can benefit from:
- Expert guidance on regulatory compliance requirements associated with customer communications
- Assistance developing and tailoring rule sets designed to meet compliance and customer service objectives
- Advice on process and workflow design to help ensure that PerformLine monitoring results are effectively classified, routed, actioned on and consolidated for reporting purposes
- The ability to effectively connect the PerformLine solution’s capabilities with other risk management activities, such as governance, risk and compliance (GRC) platforms, risk and control self-assessments, and compliance audit programs
- Access to leading experts on robotic process automation and artificial intelligence-driven transformation to further increase the efficiency of PerformLine-supported processes
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“In the decade since the financial crisis, financial services organizations have spent billions of dollars in regulatory penalties and their compliance operational costs have increased exponentially. We’re continually working with our clients to find more efficient and innovative, technology-driven solutions to their compliance challenges,” said Mike Brauneis, managing director and US. leader of Protiviti’s financial services industry practice. “By teaming up with a regtech leader like PerformLine, we apply our compliance, business process and industry expertise to help make its platform an even more compelling solution to enhance the effectiveness of clients’ compliance efforts, while also making them dramatically more efficient.”
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