Mansfield Building Society selects Suade Labs for regulatory reporting

By Megha Bhattacharya

RegTech firm Suade Labs, specialised in bridging the regulatory gap through modern technology, has recently added Mansfield Building Society to its client portfolio. Mansfield Building Society will use the full-service offering of Suade Labs’ RegTech to meet its regulatory reporting requirements.

Suade Labs offers end-to-end automation of regulatory reporting for financial institutions, with clients ranging from global tier 1 banks through to regional banks and building societies. It offers a data-driven approach to regulation, as well as uses innovative technology such as NLP and machine learning.

Dan Jones, Finance Director at Mansfield Building Society commented, “We were looking for a RegTech solution which would allow us to be more agile and increase efficiencies not only within our regulatory reporting team, but across the wider business. Suade will enable a more granular view of our position at any given time for anyone who requires this information within the building society as well as external stakeholders including the Regulator.”

“Another of our main goals when procuring a solution was to adopt emerging tech and be at the forefront of innovation. With the increasing focus from regulators to provide more agile governance and transform data collection, to remain competitive, we chose a solution which would allow us to keep up with this increasing change.”

Using Suade, Mansfield Building Society will be able to realise the benefits of emerging technologies such as Natural Language Processing (NLP), Machine Learning (ML), and Artificial Intelligence (AI).

Diana Paredes, Co-Founder and CEO of Suade reflected, “Mansfield Buildings Society subscribing to the Suade regulatory reporting solution is a great confirmation of the superior technology that powers our platform. Being a cloud native solution, we are able to offer our services fully on the cloud. This provides huge economies of scale to the customer and allows the ongoing cost of regulatory compliance to be reduced to a fraction of previous outlay”.