Evidology makes MS Teams a compliance enabler not a threat

Evidology Systems, provider of the QED platform, which is uniquely aimed at principles-based regulations, is announcing today that its system is now fully integrated with Microsoft Teams, for the first time enabling sustained management of regulatory compliance from within that application. Compliance with regulations such as FRTB, SMCR, PSD2, and GDPR can now be tracked and demonstrated through Microsoft Teams. This addition to QED enables the financial sector and other verticals to extend this widely-used collaborative technology to compliance. This innovation builds on the announcement in April of QED’s integration with MS Office 365.

Rupert Brown, CTO of Evidology Systems, said: “We have built a unique compliance offering for the business world, delivering capabilities which no one else on the market can offer. Our second gen RegTech solutions enable businesses to meet a critical requirement for both senior business management and operational teams. We have created a schema management platform for Microsoft Teams, which allows internal regulations to be implemented in-line with the law. Financial institutions will now be able to prove that their staff didn’t just read the regulations, but they understand and live them. Firms are also able to show that these regulations are embedded in internal processes.”

As the wide adoption and sophistication of electronic collaboration platforms has increased (along with opportunities for individual and corporate fraud), so has the need to integrate demonstrable compliance. This means that the requirement for reliable data archiving, recording and analytic surveillance techniques has grown, becoming a key product area in the RegTech market sector. Evidology Systems helps to manage a company’s workforce compliance with regulations.

There are numerous first gen RegTech solutions on the market, but they are little more than capture & save apps which monitor and record the interactions in messaging platform applications. They are limited to operating independently of the business context, focussing just on ‘who, what, when’, while the approach Evidology Systems uses in QED is structured and defines:

• What needs to be discussed and recorded
• Why it needs to be discussed and recorded
• Who needs to be part of the discussion and what their roles/responsibilities are within that context
• How a desired business outcome can be achieved with groups and individuals supported by toolsets
• The critical path to achieve the outcome
• The corporate and third-party entities which define the scope of the outcome and have accountability for the outcome.

QED leverages much of the Microsoft Graph API feature set, which underpins Microsoft Teams, most notably the core concepts of Channels, Website and Application Tabs, Excel Workbooks, Notebooks and Planner.

Evidology Systems’ QED is the unique platform aimed at principles-based regulations such as GDPR, FRTB, SMCR, PSD2 and others. As principles-based regulations have been (deliberately) formulated in an ambiguous way, companies had no way of proving their compliance before QED’s existence. QED is based on a concept derived from ancient Greek philosophy, argumentation, the process of identifying the degree of truth from a series of premises. QED is the only platform to integrate the evidence-trail of the required reporting data with individual and corporate responsibilities, linking it to current legal opinion for each regulation.