Arbuthnot Latham selects Clausematch to digitise compliance framework
By Gloria Methri
London-based RegTech company Clausematch has partnered with private and commercial bank Arbuthnot Latham to enable the digitisation of regulatory compliance. The partnership will see the firm adopt Clausematch’s policy management platform to automate and streamline compliance processes.
Arbuthnot Latham says that the banking industry has been experiencing an influx of regulation and increased personal accountability, therefore it is adopting compliance technology to simplify and digitise the policy framework.
Clausematch’s policy management solution will aid the bank’s compliance teams in reducing the time and risk of policy maintenance by working in a centralised platform that manages the full policy lifecycle. Digitised workflows allow updates to be easily tracked with a clear audit trail in a central system using cloud-based application development.
Jamie Day, Head of Operational Risk at Arbuthnot Latham said, “The Clausematch platform allows us to avoid a fragmented approach to naming, tagging, structuring and formatting compliance documents thus avoiding risks and keeping everything in a single dynamic repository. An automated audit trail ensures clarity around accountability, and it is easily extractable should the regulator request it.”
Arbuthnot Latham has been investing heavily in technology to increase efficiency and deliver positive outcomes for clients. The bank has around 100 internal compliance documents, i.e., policies, procedures, standards, and controls in place, with more being added in the future.
Freddie Frith, Head of Sales at Clausematch said, “We are honoured to be working with one of the fastest-growing UK banks helping them on their journey aimed at the digital transformation of compliance. With a single compliance management platform, it is now possible in a few clicks to run the end-to-end lifecycle of compliance documents, companywide policies and procedures: they can easily be drafted, reviewed, approved, and finalised. The Policy Portal instantly makes it available in a single repository for employees to easily access and attest to.”
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