Law Sonar is an innovative solution for the RegTech market which provides a legal inventory constantly updated in real time and easy to use in an intelligent and interactive mode.
Finance & Banking
Each financial institution needs many regulatory compliance operations, which has been made mandatory from the controller units in order to protect end users and to ensure a homogenous service level across Europe.
In an economic plan, these activities constitute an important cost item which doesn’t generate any revenue and which became even heavier after the 2008 crisis. The current European situation raises many difficulties because the regulations are only partially accessible in a structured way and they lack of a homogeneous format. That is the reason why compliance people in any sector are covered by paperwork and devoided of a unique tool to manage different topics. But they especially miss a standard method to access and read regulations. In these conditions, any decision that involves compliance issues is very difficult to be solved on time, causing the risk of penalties from the controller units and of reputation degradation towards customers.
LawSonar provides support to compliance professional, exploiting AI to implement and automate repetitive actions and error-prone operations in regulatory collecting, indexing, structuring and linking. Our AI algorithms identify the text structure and the regulatory references, index the rule in each of its parts (including metadata: publishing date, entry into force date, etc.) and make it accessible in an intelligent and “linked” way.
LawSonar make it possible to carry out, out-of-the-box and with just one-click, many tasks which are manually impossible (or nearly) to be done, giving the chance to save time for other value-added activities, such as the compliance decisions and strategy or the auditing operation structuring. Besides, the regulatory deep indexing level allows to personalize the system in a unique way, basing on the rule access and reading needs: user can literally “create his rule from scratch” thanks to the “drag-and-drop legal drafting” mode, very useful to build a specific view regarding the rule, depending on single user’s needs. The deep structuring of the rule also allows to link the regulatory object to any other element (banking process, banking ontology, etc.). In conclusion, LawSonar offers the chance to work in a standard, structured and quicker way on the regulatory documentation, making it possible to save time, reduce costs and delivery better results.