AI-powered
& Human-augmented
Regulatory Solution
to track, trace, report and manage.
Current Challenges of Regulatory Compliance
The compliance process is time-consuming, and upholding these across multiple departments is a challenging task with up to 8 different technologies monitoring
and regulating compliance status.
Renforce is a combined capability of regulatory expertise, proprietary regulatory technology and AVA, our built-in AI. A single solution for large enterprises, regulators, and enterprise partners.
RegTech
Real-time and data-driven regulatory compliance made simple.
Manage risk, compliance efforts and owners of all regulations, voluntary codes, and policies in one regulatory ecosystem
Data-driven tracking of compliance status through integrations with in-house systems
Trace the compliance journey with data evidence, linked regulations, and AI insights
Reporting and attestation ready in one touch assured by our experts
RegExperts
Proactive humans that provide ongoing expertise, monitoring and research.
Ongoing research and early solutions to upcoming regulations for seamless implementation
Ongoing regulatory expertise and support to assure compliance teams and triage compliance efforts
Active monitoring for predicted breaches and compliance issues with our tech and AI
Ongoing breach, issue and problem solution design and co-execution with inhouse compliance teams
Meet AVA. Our Trusty AI
Ava learns complex compliance requirements and journeys through ML, proactively predicts breaches with prevention insights, and guides compliance efforts after maturity.
Renforce
Speak to our compliance
experts to evolve your regulatory
compliance approach.
Kick off a Proof of Concept >
Why
Renforce?
Time and Cost
In our research, we learned that every FSI in Australia was running up to 3 compliance programs with an average program length of 6-12 months, with an average starting cost per program of 2.8 Million AUD*. Current processes of achieving regulatory compliance are too long, where the regulations become redundant or updated by the end of implementation, resulting in a continuous loop of unfinished regulatory compliance. The cost of maintaining, implementing and remediating this continuous loop of unfinished regulatory compliance is expensive due to the costs of contingent workforces, consulting, increasing stacks of technologies implemented to help and the unplanned expenses of programs not meeting their objectives.
Manualism
The majority of current regulatory compliance isn't performed in real-time; it's done by stitching manual QA, data gathering, reporting and translating from process/business rules. Manualism often leads to inaccurate, unreliable and competing compliance information, which results in breach
Remediative and Reactive
The inability to track and trace compliance requirements in real-time results in a continuous loop of fixing lagged breaches in reactive projects or collectively in large remediation programs. The current nature of managing compliance is too challenging to be proactively compliant.
Too Many Unnecessary Technologies
The remediative, reactive, manual, time-consuming, and costly nature of compliance has resulted in a new generation of technologies that do the same thing, deeming these useless. While added into the organisation with the right intentions, our research has shown that organisations use up to 8 different technologies to monitor and regulate compliance status that often mistranslates the intention. In turn, the compliance process becomes more difficult and complicated without any statistical or logical reason. Now experts often leave these technologies behind and perform compliance activities on spreadsheets as a last resort.
Time & Cost
In our research, we learned that every FSI in Australia was running up to 3 compliance programs with an average program length of 6-12 months, with an average starting cost per program of 2.8 Million AUD*.
Manualism
The majority of current regulatory compliance isn't performed in real-time; it's done by stitching manual QA, data gathering, reporting and translating from process/business rules.
Remediative and Reactive
The inability to track and trace compliance requirements in real-time results in a continuous loop of fixing lagged breaches in reactive projects or collectively in large remediation programs.
Too many unneccessary technology
The remediative, reactive, manual, time-consuming, and costly nature of compliance has resulted in a new generation of technologies that do the same thing.
The Renforce
Capability
At The Start Smart our capabilities combine proprietary human competencies and technology solutions as a singular service for organisations over the need for multiple resources, multiple solutions and multiple technologies. The Start Smart capabilities are single solutions to simplify broad problems and co-execute functional requirements.
How Renforce Works
Our philosophy of human-augmented technology means that our regulatory, data and solution experts work together seamlessly to ensure total compliance with all industry regulations.
Renforce itself is not a part of the software stack of the organisation. Instead, it sits on top of the existing data feed of the organisation generated by the existing software solutions to collectively drive regulatory compliance, predict and prevent regulatory breaches, and allow a system of work where compliance decision is backed by factual data and allows comprehensive reporting.
What the Renforce capability includes
The Inner Workings of the Renforce Capability
Behavioural Design
Utilising our understanding of industry regulations and using it to translate regulatory requirements into human processes within organisations. This is done in the form of process design, experience design, UX and UI design
Data-Driven
Our technology integrates as a layer on top of the existing enterprise technology. It uses the data feed from user interactions to create a single source of compliance status information within the Renforce regulatory ecosystem providing an overview of the entire organisation.
Data Story
Experts design and unlock the functional flow within an organisation, tying together the object and performance indicators and stakeholders. Actionable data and regulations are leveraged to create data-based processes. This allows them to showcase not just the theoretical, qualitative processes defined by business rules but also the actual data-driven processes of the organisation.
Machine Learning
The technology monitors and learns from the organisation's user interactions, breach patterns, process confirmation, data patterns, accountability structures, and adherence. It ensures that the data is accurately correlated with the business processes.
Delivery and Resolution
Using a combination of deep-dive research and business architecture, we identify why compliance issues are happening or will happen, as reported by the technology, and trace them back to the affected business units. With the help of business process modeling backed by data, it showcases the organisation's alignment, the factual status of processes and compliance, and the internal operations. Renforce actively prevents the organisation from breaching regulations by preemptively suggesting changes before they occur. If breaches have already occurred, the team will ensure compliance by performing business policy and process fixes and providing actionable guides on how breaches can be avoided in the future.
Deep Learning
Deep learning understands the organisation's behaviour and tests it against the knowledge of business processes, patterns, and behaviours gained by machine learning. Renforce uses its deep learning modules to predict regulatory breaches and overtime proactively shares guidance on breach prevention and fixing breaches they occur.These compliance predictions prevent potential breaches by preemptively informing obligation owners, avoiding expensive remediations, and allowing for effective compliance decisions.
Our
Philosophy
Open Regulation™ is here
Open Regulation™ is a proprietary concept created by The Start Smart as part of our Renforce capability and our commitment to solving the immediate challenges of regulatory compliance.
Open Regulation™ will enable a collaborative approach to regulation for all three major key players within an industry: regulators, providers and partners, allowing them to regulate and hold each other accountable through a singular future-ready platform.
Human Augmented
Renforce is more than just software; it's a revolutionary solution that combines human augmentation and artificial intelligence. Our philosophy of human-augmented technology means that our regulatory, data and solution experts work together seamlessly to ensure total compliance with all industry regulations.
No More Remediations
Renforce allows organisations to leave behind time-consuming remediations and shift effort to being proactive - through a data-driven approach where actions are continuously monitored against regulations - preventing breaches even before they occur.
We want our partners to achieve a state of no more remediations in the organisational operations.
The
Users
Risk and Compliance Assurance
Group Audit, External Audit and Line 3 group risk assurers.
These teams independently assess whether regulatory obligations are being met. The outcome of their findings is designed to improve business processes rather than punish wrongdoings. They need access to data-driven factual information rather than theoretical metrics from a variety of sources.
Renforce provides factual data-based information and compliance centralised in one place
Fully transparent reporting that can be shared with regulators, providers, and partners simultaneously
A centralised view of current organisational compliance, guiding wholistically informed decision-making
Eliminates the need to collate, verify and assure data from multiple sources
Risk and Compliance Owners
Chief Risk Officer, Board Risk Committee and line 2 risk and compliance owners
They are the ultimate owner of the organisational compliance and governors of the risk culture. Using data from multiple sources, they are responsible for providing a contextual output that enlightens regulators and other internal and external stakeholders about the state of compliance and remediation programs.
Renforce provides a solution that presents data from multiple sources as a single factual report, making their job much easier.
FProactive access and assurance from Reg experts on regulatory insights and current upcoming regulations.
Attestation-ready reports for immediate ownership and accountability of real-time regulatory status.
A centralised view of current organisational compliance, guiding informed decision-making for compliance efforts and initiatives.
Risk and Compliance Owners
Chief Risk Officer, Board Risk Committee and line 2 risk and compliance owners
These teams independently assess whether regulatory obligations are being met. The outcome of their findings is designed to improve business processes rather than punish wrongdoings. They need access to data-driven factual information rather than theoretical metrics from a variety of sources.
Renforce provides a solution that presents data from multiple sources as a single factual report, making their job much easier.
FProactive access and assurance from Reg experts on regulatory insights and current upcoming regulations.
Renforce provides factual data-based information and compliance centralised in one place
Attestation-ready reports for immediate ownership and accountability of real-time regulatory status.
Risk and compliance Operationalists
Senior Manager, Managers of Operational Business Units and Line 1 business operations.
This layer is focused on the operational layer and is highly customer-oriented. They rely on timely information and expert support to address issues.
Renforce provides real-time compliance tracking to align operational objectives
Renforce analyses user interaction data to provide an accurate overview of the state of compliance
Attestable reports giving assurance to both internal and external stakeholders
Easily identify and understand operational issues that are causing regulatory breaches
Gives direct ownership of regulations and makes it easy to comply with them
Renforce includes internal policies to ensure its the one place for obligation management
Risk & Compliance Assurance
Group Audit, External Audit and Line 3 Group risk assures
Risk & Compliance Owners
Chief Risk Officer, Board Risk Committee and line 2 risk and compliance owners.
Risk & Compliance OverSeight
Compliance
Specialists, Policy, Mangers, Operations, Buisness Managers and line 2.1 employees dedicated to Risk and Compliance oversight at Group level
Risk & Compliance Operationalists
Senior Manager, Managers of Operational Buisness Units and Line 1 buisness operations.
Risk and Compliance Assurance
Group Audit, External Audit and Line 3 group risk assurers.
These teams independently assess whether regulatory obligations are being met. The outcome of their findings is designed to improve business processes rather than punish wrongdoings. They need access to data-driven factual information rather than theoretical metrics from a variety of sources.
Renforce provides factual data-based information and compliance centralised in one place
Fully transparent reporting that can be shared with regulators, providers, and partners simultaneously
A centralised view of current organisational compliance, guiding wholistically informed decision-making
Eliminates the need to collate, verify and assure data from multiple sources
Risk and Compliance Owners
Chief Risk Officer, Board Risk Committee and line 2 risk and compliance owners
They are the ultimate owner of the organisational compliance and governors of the risk culture. Using data from multiple sources, they are responsible for providing a contextual output that enlightens regulators and other internal and external stakeholders about the state of compliance and remediation programs.
Renforce provides a solution that presents data from multiple sources as a single factual report, making their job much easier.
FProactive access and assurance from Reg experts on regulatory insights and current upcoming regulations.
Attestation-ready reports for immediate ownership and accountability of real-time regulatory status.
A centralised view of current organisational compliance, guiding informed decision-making for compliance efforts and initiatives.
Risk and Compliance Owners
Chief Risk Officer, Board Risk Committee and line 2 risk and compliance owners
These teams independently assess whether regulatory obligations are being met. The outcome of their findings is designed to improve business processes rather than punish wrongdoings. They need access to data-driven factual information rather than theoretical metrics from a variety of sources.
Renforce provides a solution that presents data from multiple sources as a single factual report, making their job much easier.
FProactive access and assurance from Reg experts on regulatory insights and current upcoming regulations.
Renforce provides factual data-based information and compliance centralised in one place
Attestation-ready reports for immediate ownership and accountability of real-time regulatory status.
Risk and compliance Operationalists
Senior Manager, Managers of Operational Business Units and Line 1 business operations.
This layer is focused on the operational layer and is highly customer-oriented. They rely on timely information and expert support to address issues.
Renforce provides real-time compliance tracking to align operational objectives
Renforce analyses user interaction data to provide an accurate overview of the state of compliance
Attestable reports giving assurance to both internal and external stakeholders
Easily identify and understand operational issues that are causing regulatory breaches
Gives direct ownership of regulations and makes it easy to comply with them
Renforce includes internal policies to ensure its the one place for obligation management
Core
Features
RegExperts and RegTech as a Singular Combined Solution:
The Renforce capability co-executes with your internal team to ensure your organisation's regulatory compliance.
Traceability and Data-driven:
Compatibility and API ready with key systems used in the financial services industry to power factual and real-time information into Renforce.
Reporting and Audit Readiness:
The inability to track and trace compliance requirements in real-time results in a continuous loop of fixing lagged breaches in reactive projects or collectively in large remediation programs.
AVA, Our Trusty AI:
Ava predicts and monitors compliance so that she can proactively help our partners with any upcoming or existing compliance breaches.
Track and Manage in One System:
A centralised and comprehensive view of current compliance for leaders and compliance teams to manage and track.
Modular and Scalable:
Start with any number of regulations, voluntary codes, and policies to be managed within the one Renforce regulatory ecosystem.
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