Singapore/Hong Kong, 14 November 2019 – Kaizen Reporting has won the Regtech Award for Data Assurance in the 2nd Regulation Asia Awards for Excellence 2019 at a ceremony in Singapore on 13 November 2019.
Following a rigorous selection process involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team, Kaizen Reporting emerged as the category winner for its
ReportShield solution, a tool developed to solve the problem of poor quality reporting. The solution checks the correctness of every single data field on every single transaction or trade report to ensure completeness and accuracy, while staying independent of the actual reporting process.
For clients, Kaizen Reporting will typically test all its submissions once a month to check the accuracy and completeness of what has been reported under various regimes. Its clients include some of the largest banks in Hong Kong, Singapore and Japan. In addition, some Asian regulators have declared an interest in conducting tests with ReportShield.
In addition to accuracy testing, Kaizen Reporting also provides a reconciliation service, whereby it recreates the reporting process using a firm’s own data to check for issues that need to be resolved. The firm also helps clients to test reference data.
One judge called the service “one-of-a-kind”. Multiple users have attested to its effectiveness in helping to ensure higher quality data in regulatory reports. According to one user, regulators have also provided “extremely positive” feedback on the data assurance processes applied.
Brad Maclean, Co-founder and Executive Chairman, Regulation Asia said: “Kaizen Reporting has developed a unique solution to address a wide range of issues around regulatory reporting. This award recognises the firm’s continued success in developing superior technology and helping firms navigate challenging data environments and ever-changing regulatory requirements.”
About the Regulation Asia Awards for Excellence 2019
Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
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