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Keeping pace with governmental regulations is a prohibitively costly challenge in regulated
industries – in terms of manpower, money and risk exposure.
The operational burden globally has grown from 8,704 regulatory alerts a year in 2008 to 67,125 a year in 2020*.
The biggest challenges facing the
executive boards of financial institutions are:
A solution to manage the
volume and scope of rapid
regulatory changes
Instilling a culture
of compliance
Meeting regulatory
expectations and
obligations
*Thomson Reuters survey ‘cost of compliance 2021’
Current solutions are predominantly based on internally-generated tools, such as offline spreadsheets. These rely on manually tracking alerts in static databases, libraries, checklists, and siloed management dashboards. GRC on-premise closed systems and other complex IT architectures are difficult to manage and maintain, alongside the huge amounts of data and weak user interfaces that prevent cooperation within the organization to successfully create a culture of compliance.
For financial institutions manual regulatory compliance is a direct drain on the bottom line. But even more serious is the underlying risk of exposure to violations. According to the Thomson Reuters ‘Cost of Compliance’ survey conducted in 2021, 50% of regulatory compliance professionals believe their personal liability will increase in 2021.
Static tools like these cannot keep pace with dynamic
changes in the regulatory landscape
Join us in creating the ultimate SaaS solution developed for clients together with clients
By creating a scalable, industry-wide platform for a jurisdiction, the PIL regulations databases and checklists are used throughout each local market. So the data improves constantly with usage and attains the highest level of accuracy, security and best practice compliance.
The PIL platform is up and running in Israel, with a solid foundation of revenue-generating clients.
Our experience in Israel demonstrates that for very little effort, design partners can take the lead in redefining
regulatory compliance in their industry.
We are actively recruiting design partners for international
Proof of Concept projects in industries that have:
A well- stablished regulatory infrastructure
Mid-sized regulated companies struggling with manual compliance tools
Current regulations
in English
A well-established regulatory infrastructure
Mid-sized regulated companies struggling with manual compliance tools
Current regulations
in English
If you’re an industry association or a company in a market with a well-established regulatory infrastructure and current regulations in English, let’s talk. We can work together to simplify regulatory compliance in your location, effectively eliminating risks, streamlining operations, and significantly lowering costs.
Let’s talk about the
elephant in the room
