The only constant is change.
Heraclitus – around 450 BC
Nothing could be more true about the regulatory landscape. Changing global mandates mean organizations must understand new regulations, and implement appropriate changes by stated deadlines to avoid penalties, fines, or worse. They must also figure out how to comply with new rules and deal with audits without adding too much cost and disruption to the organization.
Many regulations impact the way organizations make commitments or conduct transactions with partners or customers. This means that a changing regulation requires a company to find relevant contracts, review the affected language, and make business decisions to revise or novate the contract, renegotiate commercial terms or terminate to avoid non-compliance. And it has to do that for all of its affected contracts, which could be in the 10,000s or more depending on the organization.
Fortunately, Seal Software can extract the specific terms and provisions needed for regulatory compliance from across all contracts. Its uses artificial intelligence powered by an advanced Machine Learning framework, so it can be taught by users to look for specific provisions and clauses. With Seal, compliance reviews can be done quickly, at a lower cost and with far less disruption.
Seal is currently engaged with partners to help organizations with compliance on:
Other regulations requiring a clear understanding of the data in your contracts includes:
US – based
- Dodd-Frank 165 “Stress Test” compliance (ISDAs and CSAs)
- US “Living Wills” reporting for Financial Services
- European Banking Authority “Write Down” Rules (BRRD)
- EU General Data Protection Regulation (GDPR)
- UK Modern Slavery Laws
- UK Anti-Money Laundering
Some of Our Customers