Waymark Tech Debuts AI-Assisted Tool To Spot Regulatory Crossovers

Jun 27 2017 | 9:33pm ET

Regtech specialist Waymark Tech has launched a new tool that automatically identifies a company’s regulatory crossovers and conflicts between incoming regulations, such as MiFID II, GDPR, and PRIIPS.

The new real-time tool is powered by artificial intelligence and can be accessed from Waymark’s Wayfinder product, which uses machine learning to accelerate the identification & analysis of regulatory requirements. The system identifies which regulations apply to a company and then finds common areas and conflicts across other regulatory packages. 

It can also flag areas of potential conflict between incoming regulations, which can be very useful for compliance officers and implementation managers. For example, under MiFID II regulators are to be granted full and immediate access to client records, while under GDPR, companies are expected to encrypt them.

The new tool currently covers 43 EU regulations, including MiFID II, PRIIPS, UCITS V, BASEL III, EMIR, GDPR, AIFMD, and SFTR, according to a statement.

Founded in London in 2016, Waymark Tech provides an AI-powered collaborative platform that helps legal and compliance teams automatically monitor, identify and analyze regulatory requirements and conflicts. 

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