RegTech (Regulatory Technology) includes technologies such as big data, cloud computing, artificial intelligence, machine learning, and blockchain that help companies comply with regulatory requirements. RegTech targets industries such as the financial and healthcare domains notorious for their large number of regulations and rules.
Financial institutions use many different internal data systems, making it difficult for them to quickly compile data to fully satisfy the ever-changing requests from regulators. This way, as the amount of data stored increases, so does the challenge of meeting regulatory requirements. The report by BI Intelligence claims that in the wake of the 2008 financial crisis, the volume of regulatory changes and announcements has gone up by as much as 492%.
What is more, compliance with a large number of rules is both time-consuming and costly. The main item of expenses is the payment of various fines. According to the analytical company Boston Consulting Group, since 2008, the largest banks have spent more than $300 billion on fines globally, and this figure is increasing.
Regarding such volatile regulatory and reporting requirements, the only efficient solution to compliance risk management lies in the implementation of new technologies. Regtech apps have landed among the top fintech trends for 2021, and are expected to establish a $53B-worth market by the end of this year.
Our Solution
We invite fintechs and startups in the RegTech sector to take a look at the Regulatory Change Management Dashboard and be the first among its early adopters. The template is a ready-to-use solution for RegTech compliance and change management with front-end implementation. The use of the dashboard reduces development time and saves up to 50% on its further management. Fully automated, the dashboard includes a robust set of analytic tools, including customer identity verification, reports compilation and submissions, transaction monitoring, and reporting.
How Does It Work?
The dashboard provides the opportunity to track and monitor regulatory changes so that every business can tune it up according to the data it needs (legislation acts and regulations targeted at a particular industry). The solution's flexible functionality offers plenty of customization features to businesses in practically every business domain.
Akveo’s Regulatory Change Management Dashboard informs businesses about the regulations that have changed and how they may affect their operations. What that means is that all policies, regulations, rules, and processes are interconnected, and the system knows how exactly. If a regulatory change occurs, the system will automatically highlight all the rules, processes, policies, and documents that are affected by this particular regulatory change.
Main Features and Modules:
- Parsing of regulations. The digitalization of risk management and regulatory compliance makes the parsing of regulations much easier.
- Comparing regulations with their older versions to discover all the changes. If a few lines have been changed among hundreds of pages, the algorithm within the dashboard will take a few seconds to locate all the changes. At the same time, this very task would take an employee at least several hours to complete.
- Discovering conflicts caused by changes. The solution comes with a dashboard that allows employees to quickly discover all the possible compliance-related issues.
- Effective regulatory change management. Thanks to the convenient visualization of all links, employees can capture all this data across the various departments and locations of an organization.
The template is a perfect match for any business in any domain regardless of the regulatory requirements' complexity. Moreover, the template significantly speeds up the process of the in-house regulatory software development if a business has such plans.
All in all, the template provides businesses with a vital strategic advantage, not to mention reduced costs on regulations compliance and harmonized coordination between departments.
To Sum Up
As said earlier, in the aftermath of the global financial crisis, regulators around the world have noticeably increased requirements for the financial sector. Banks have to cope with the new reality, but at the same, time they continue to use old legacy systems. That approach often results in increased regulatory costs.
The problem is that the regulatory framework hasn’t been written in stone – the rules evolve and sometimes get overhauled. These changes mean that a certain business process may become non-compliant in an instant. At the same time, new business processes can be established to take advantage of the new opportunities driven by those changes. That is why businesses need regulatory change management tools to make sure that their business stays compliant to take advantage of all the market opportunities.
Regulatory Change Management Dashboard provides:
- accurate analytics, including customer identity verification, reports compilation, and submissions
- transaction monitoring and reporting
- collaboration tools: no email or spreadsheets required
- increased customer retention rates.
The template is fully customizable, so our team can develop it according to your individual business needs and goals. Get early access to the template and let us know what you think about it.
Retool Dashboards with HubSpot Integration
Our client needed a centralized tool to aggregate account and contact activity, improving visibility and decision-making for the sales team.
The solution
We built a Retool application integrated with HubSpot, QuickMail, and Clay.com. The app features dashboards for sorting, filtering, and detailed views of companies, contacts, and deals, along with real-time notifications and bidirectional data syncing.
The result
- MVP in 50 hours: Delivered a functional application in just 50 hours.
- Smarter decisions: Enabled data-driven insights for strategic planning.
- Streamlined operations: Reduced manual tasks with automation and real-time updates.
Lead Generation Tool to Reduce Manual Work
Our client, Afore Capital, a venture capital firm focused on pre-seed investments, aimed to automate their lead generation processes but struggled with existing out-of-the-box solutions. To tackle this challenge, they sought assistance from our team of Akveo Retool experts.
The scope of work
The client needed a tailored solution to log and track inbound deals effectively. They required an application that could facilitate the addition, viewing, and editing of company and founder information, ensuring data integrity and preventing duplicates. Additionally, Afore Capital aimed to integrate external tools like PhantomBuster and LinkedIn to streamline data collection.
The result
By developing a custom Retool application, we streamlined the lead generation process, significantly reducing manual data entry. The application enabled employees to manage inbound deals efficiently while automated workflows for email parsing, notifications, and dynamic reporting enhanced operational efficiency. This allowed Afore Capital's team to focus more on building relationships with potential founders rather than on administrative tasks.
Learn more about the case
Retool CMS Application for EdTech Startup
Our client, CutTime, a leading fine arts education management platform, needed a scalable CMS application to improve vendor product management and user experience.
The scope of work
We developed a Retool application that allows vendors to easily upload and manage product listings, handle inventory, and set shipping options. The challenge was to integrate the app with the client’s system, enabling smooth authentication and product management for program directors.
The result
Our solution streamlined product management, reducing manual work for vendors, and significantly improving operational efficiency.
Building Reconciliation Tool for e-commerce company
Our client was in need of streamlining and simplifying its monthly accounting reconciliation process – preferably automatically. But with a lack of time and low budget for a custom build, development of a comprehensive software wasn’t in the picture. After going through the case and customer’s needs, we decided to implement Retool. And that was the right choice.
The scope of work
Our team developed a custom reconciliation tool designed specifically for the needs of high-volume transaction environments. It automated the processes and provided a comprehensive dashboard for monitoring discrepancies and anomalies in real-time.
The implementation of Retool significantly reduced manual effort, as well as fostered a more efficient and time-saving reconciliation process.
Creating Retool Mobile App for a Wine Seller
A leading spirits and wine seller in Europe required the development of an internal mobile app for private client managers and administrators. The project was supposed to be done in 1,5 months. Considering urgency and the scope of work, our developers decided to use Retool for swift and effective development.
The scope of work
Our developers built a mobile application tailored to the needs of the company's sales force: with a comprehensive overview of client interactions, facilitated order processing, and enabled access to sales history and performance metrics. It was user-friendly, with real-time updates, seamlessly integrated with existing customer databases.
The result? Increase in productivity of the sales team and improved decision-making process. But most importantly, positive feedback from the customers themselves.
Developing PoC with Low Code for a Tour Operator
To efficiently gather, centralize, and manage data is a challenge for any tour operator. Our client was not an exception. The company was seeking to get an internal software that will source information from third-party APIs and automate the travel itinerary creation process. Preferably, cost- and user-friendly tool.
The scope of work
Our experts ensured the client that all the requirements could be covered by Retool. And just in 40 hours a new software was launched. The tool had a flexible and easy-to-use interface with user authentication and an access management system panel – all the company needed. At the end, Retool was considered the main tool to replace the existing system.
Testing New Generation of Lead Management Tool with Retool
Our client, a venture fund, had challenges with managing lead generation and client acquisition. As the company grew, it aimed to attract more clients and scale faster, as well as automate the processes to save time, improve efficiency and minimize human error. The idea was to craft an internal lead generation tool that will cover all the needs. We’ve agreed that Retool will be a perfect tool for this.
The scope of work
The project initially began as a proof of concept, but soon enough, with each new feature delivered, the company experienced increased engagement and value.
We developed a web tool that integrates seamlessly with Phantombuster for data extraction and LinkedIn for social outreach. Now, the company has a platform that elevates the efficiency of their lead generation activities and provides deep insights into potential client bases.
Building an Advanced Admin Portal for Streamlined Operations
Confronted with the need for more sophisticated internal tools, an owner of IP Licensing marketplace turned to Retool to utilize its administrative functions. The primary goal was to construct an advanced admin portal that could support complex, multi-layered processes efficiently.
The scope of work
Our client needed help with updating filters and tables for its internal platform. In just 30 hours we've been able to update and create about 6 pages. Following features were introduced: add complex filtering and search, delete records, styling application with custom CSS.
Together, we have increased performance on most heavy pages and fixed circular dependency issues.
Creating MVP Dashboard for Google Cloud Users
Facing the challenge of unoptimized cloud resource management, a technology firm working with Google Cloud users was looking for a solution to make its operations more efficient. The main idea of the project was to create an MVP for e-commerce shops to test some client hypotheses. Traditional cloud management tools fell short.
The scope of work
Determined to break through limitations, our team of developers turned Retool. We decided to craft an MVP Dashboard specifically for Google Cloud users. This wasn't just about bringing data into view; but about reshaping how teams interact with their cloud environment.
We designed a dashboard that turned complex cloud data into a clear, strategic asset thanks to comprehensive analytics, tailored metrics, and an intuitive interface, that Retool provides. As the results, an increase in operational efficiency, significant improvement in cost management and resource optimization.
Elevating CRM with Custom HubSpot Sales Dashboard
Our other client, a SaaS startup, that offers collaborative tools for design and engineering teams, was on a quest to supercharge their sales efforts. Traditional CRM systems were limited and not customizable enough. The company sought a solution that could tailor HubSpot to their workflow and analytics needs.
The scope of work
Charged with the task of going beyond standard CRM functions, our team turned to Retool. We wanted to redefine how sales teams interact with their CRM.
By integrating advanced analytics, custom metrics, and a user-friendly interface, our developers provided a solution that transformed data into a strategic asset.
In 40 hours, three informative dashboards were developed, containing the most sensitive data related to sales activities. These dashboards enable our customer to analyze sales and lead generation performance from a different perspective and establish the appropriate KPIs.
Building a PDF Editor with Low-Code
Our client, a leading digital credential IT startup, needed a lot of internal processes to be optimized. But the experience with low-code tools wasn’t sufficient. That’s why the company decided to hire professionals. And our team of developers joined the project.
The scope of work
The client has a program that designs and prints custom badges for customers. The badges need to be “mail-merged” with a person’s info and turned into a PDF to print. But what is the best way to do it?
Our developers decided to use Retool as a core tool. Using custom components and JavaScript, we developed a program that reduced employees' time for designing, putting the data, verifying, and printing PDF badges in one application.
As a result, the new approach significantly reduces the time required by the internal team to organize all the necessary staff for the conference, including badge creation.
.png)
