Singapore/Hong Kong, 22 November 2022 – Single Rulebook was Highly Commended in the hotly-contested Regulatory Change Management category in the 5th Regulation Asia Awards for Excellence 2022 on 22 November 2022.
Part of Kaizen Reporting, Single Rulebook was created in May 2019 to provide an easier and more cost-effective way of managing a changing regulatory landscape. The platform uses Natural Language Processing (NLP) to analyse technical regulatory text and apply a rule mapping system which then enables clients to search, share and manage global regulatory rules from within a single digital platform.
The platform creates and maintains a dictionary of terms, concepts, and abbreviations as a knowledge base, automatically adds links to direct sources of regulatory text, and enables users to search for specific concepts and words that are most relevant – taking into account that different regulatory regimes may express these differently. Firms can embed Single Rulebook into their processes and annotate, share and manage regulatory rules, all while establishing a full audit trail and a firm-wide repository of regulatory interpretations.
“The Single Rulebook model and alerts create an always up-to-date digital knowledge base for firms to use, be it for horizon scanning or as part of their regulatory change management process,” said one judge on the Regulation Asia awards panel. “This platform is really very interesting because it can enable firms to identify overlapping and/or differing requirements across jurisdictions, which makes it much easier to develop group policies and re-use compliance policies and procedures from their different businesses.”
In the last year, Single Rulebook has seen its annual recurring revenue increase by more than 200 percent, and is attracting sophisticated clients ranging from regulatory consultancies, law firms, investment firms, investment banks and exchanges.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2022 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.