ZEDRA, a provider of global expansion, active wealth and fund solutions, has partnered with Clausematch, a technology company developing solutions for regulatory compliance

The company is adopting Clausematch’s policy management platform to streamline compliance across multiple jurisdictions. 

The industry is facing a volatile and rapidly evolving regulatory, political, social and criminal environment, while there has been an acceleration in the digitisation of risk and compliance functions in the personal finance space.

Clausematch’s technology offers a multi-jurisdictional dimension when dealing with policies and procedures, ensuring they are easy to find across the entire group. 

ZEDRA works with around 2,000 internal compliance documents – policies, procedures, standards and controls – and has a uniform system for management of this documentation and to shore up any inefficiencies.

“ZEDRA had policies and procedures that differ at group-level and jurisdictions. With the use of Clausematch, the firm created standardised templates that will guide document owners to create documents with the same look-and-feel and content structure,” said Ace Huang, project manager at Clausematch. 

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Another area that unifies the process is reporting – for example, where exact information of particular policies and procedures were last reviewed; when they are next for review; who is the owner of a document; and which category a document falls into, such as compliance and HR.

Clausematch provides a single platform with solutions to those challenges, as well as standardisation, management and a structure to documents. 

Stuart Esslemont (pictured), global head of compliance at ZEDRA, commented: “After completing the sandboxing and the testing of Clausematch’s solution, we understood that user experience is what’s key to all of this. 

“The formatting of policies and the audit trail on Clausematch are really helpful. The way the platform works avoids a fragmented approach to naming, tagging, structuring and formatting compliance documents.”

Theresa Powrie, compliance manager at ZEDRA, added: “Being able to see where a policy sits works well. You don’t need multiple versions of a document sitting outside the system and remembering to replace them. 

“On Clausematch, we can actually just edit a document and an automated audit trail will be maintained.”

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In addition to showing edits, suggestions, comments and approvals in the audit trail, Clausematch’s solution consultant Pedro Fernandes championed the company’s dynamic chart reporting as a significant benefit for ZEDRA.

“With dynamic chart reports, ZEDRA will also be able to identify documents that are due for review or are simply overdue,” he commented.