December 15, 2020
Thomson Reuters Expands Content License with Archer to Add Regulatory Events, Expert Analyses, Easing and Informing Financial Institutions’ Compliance Workflows
DALLAS, December 15, 2020 – Thomson Reuters today announced an extension of its content provision agreement with Archer, an RSA company, simplifying and strengthening financial institutions’ ability to address fast-changing regulatory requirements. Archer users can access Thomson Reuters real-time regulatory feeds, analyses and intelligence via searches driven by machine learning (ML).
Thomson Reuters Regulatory Intelligence (TRRI) and Archer offer financial institutions access to a RegTech solution providing enhanced financial services regulatory data from thousands of content sources. Backed by the power of ML and domain knowledge, the collaboration enables risk and compliance professionals to keep pace with regulatory changes, manage risk and reduce their overall cost of compliance.
“We are excited to be expanding our relationship with Archer, enabling our customers to simplify their decision to adopt Thomson Reuters content, safe in the knowledge that our partner has fully enabled our content in their risk management platform,” said Chris Carlstead, head of partnerships and alliances for Thomson Reuters Corporates Segment. “Combining our AI-powered, repository of global regulatory content ensures that Archer users can readily track and comply with accelerating regulatory change worldwide.”
Financial institutions are faced with hundreds of regulatory alerts daily with an estimated 300 million new regulations for all of 2020, factoring in changes brought about by the COVID-19 pandemic. It has been a manual, time-consuming process for risk and compliance professionals to read through information and prioritize alerts based on applicability and impact, forcing banks to utilize disparate data and AI systems to meet requirements.
Thomson Reuters delivers a focused, comprehensive view of the global regulatory environment using trusted intelligence. Over the past three years, Thomson Reuters and Archer have collaborated to develop this integration that enables financial institutions to monitor intelligently, analyze and act upon regulatory developments worldwide – all in real time.
“Through this partnership, Archer customers who also have access to Thomson Reuters Regulatory Intelligence Feeds can automate the process of importing critical content into their Archer Regulatory & Corporate Compliance Management solution,” said David Lemon, VP of Sales and GTM for Archer. “This combination within the Archer platform delivers the tools customers need to analyze regulatory news, automate notification of responsible personal to regulatory changes, and proactively address issues before their organization is impacted.”
Notable features comprising the expanded relationship include:
- Enhanced Horizon Scanning – The integration of TRRI Feeds and application programming interface (API) on the extended Archer Suite, enabling customers to automatically import Thomson Reuters regulatory data directly into the dedicated Archer Regulatory Change Management use case
- Digitized GRC Entries – Instead of having to enter them manually, financial institutions now can digitize their governance, risk, and compliance processes, thereby integrating all their risk data using TRRI’s global coverage of more than 900 regulatory bodies and 2,500 collections of regulatory and legislative materials
Additional details on the joint offering can be accessed here.
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.