Singapore/Hong Kong, 22 November 2022 – Droit was awarded RegTech Award – Digital Regulatory Reporting in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
Droit was recognised for its Transaction Reporting product, which provides flexible and efficient infrastructure for clients to make quick and accurate decisions and facilitates real-time compliance with global trade reporting obligations. The product automates eligibility decisions to determine which trades are in-scope across 24 reporting regimes globally, auto-generates trade reports using a standard data model, and validates the reports against regulatory and trade repository specifications prior to submission.
The Transaction Reporting product is powered by Droit’s Adept platform, which automates global compliance in real-time systems and simplifies decision-making in an ever-complex rule-driven landscape. The product works by fully digitising regulatory text into a machine-readable format that represents data elements and reporting structure. Its unique ability to codify complex regulatory requirements into intelligent actionable decisions enables users to respond to their reporting obligations in an efficient, traceable and auditable manner.
“Partnering with Droit we have built an infrastructure that performs independent eligibility checks against our internal decision making which are 100% automated, repeatable, and enable an exception-based workflow for our team,” said a senior executive at a major US bank which implemented Adept to cover multi-jurisdictional trade and transaction reporting requirements.
The Regulation Asia judges likewise credited Droit for its innovative approach to trade and transaction reporting, namely its ability to convert regulations into machine-readable format and then automate eligibility checks and report generation. “Droit’s technology streamlines reporting operations and significantly increases efficiencies, generating reports that are directly traceable to digitised regulatory text,” one judge on the awards panel said. “A fantastic solution. Droit has my vote.”
Headquartered in New York, Droit counts fifteen of the world’s largest financial institutions as its clients. It is rapidly expanding in the Asia Pacific region, with offices in Sydney and Singapore so far.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.