Rhisco
Making Data Management and Compliance Look Easy

An ocean of structured and unstructured data in a firm’s streams can compromise compliance, data governance and, ultimately, returns. This situation can become more concerning for financial organizations that handle sensitive data and adhere to security regulations.

One mistake and everything can crumble down like a house of cards.

When financial organizations lose sight of their data, it increases the risk factor for compliance, governance and missed return. Traditional approaches to data management are not designed to support a highly regulated environment like the financial industry, making it more important for financial institutions to keep up with the best practices while keeping their data safe and compliant. Rhisco helps organizations achieve both through its risk management and compliance solutions that can aid them in staying competitive.

Various firms claim to offer risk management and compliance software to their clients, but rarely anyone promises competitiveness. Rhisco has the ability to offer a competitive advantage to clients and the experience to hold on to its promises.

Rhisco understands how daunting it can become for organizations to drive value from a high volume of data. It keeps changing as customer behaviour evolves. “Consumers expect simplicity and faster delivery of services, which compel organizations to evolve their strategies while adhering to regulations and compliance,” says Elizabeth Marvan, president of Rhisco.

To help clients achieve this, Rhisco has developed TEGRA, an award-winning data platform that provides a single source of truth for clients to manage and monitor their risk and regulatory obligations in a way that aligns with their business objectives. Through TEGRA, clients can reduce costs associated with using the data for multiple analyses as it is a semantic layer that gives business sense to the data while achieving faster time-to-market and reduced risk. "I believe that Rhisco understood well and timely the need of the financial institutions for adequate technology to support regulatory transformations like IFRS9.

Rhisco was the best option for us as they balanced regulatory understanding with a robust technology platform", says Leonardo Palomino, Head of Risk Methodology of Banco Sabadell Mexico.

Rhisco has also launched its RegTech product, AllGood.ai, which automates most of the tedious work involved in consuming regulation by using machine learning on Spanish language. The platform promotes collaboration, frees up time for research and decision-making, and democratizes regulatory expertise across the institution to enhance the performance of legal and compliance teams.

Consumers expect simplicity and faster delivery of services, which compel organizations to evolve their strategies while adhering to regulations and compliance

Both platforms consistently ensure accuracy and efficiency, respectively, when used to generate financial and regulatory reports and to control compliance activities. Regarding security, both platforms offer access control profile management and Tegra provides complete visibility into the data linage. For instance, if someone makes changes in the data sets, the platforms can help organizations identify the person responsible with audit trails.

Before offering any solution, the risk and compliance professionals in the firm spend quality hours with clients to understand their goals and challenges. Once the requirement is clear, Rhisco lays out a plan to achieve the desired outcome by helping clients understand how to manage their risk and compliance needs, what steps they need to take, and how to effectively and efficiently do so.
Rhisco has established a strong foothold in the Latin American market due to its extensive experience, interdisciplinary team, and ability to provide customized solutions. It has ambitious plans to expand its footprint into global markets. Rhisco is confident its comprehensive technology-enabled services and customized approach to business will bring it success in its latest and future ventures too.