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Home » Resources » Large US Bank leverages CUBE to identify and remediate gaps in inventory

Estimated reading time: 3 minutes

CUBE Case Study

Large US Bank leverages CUBE to identify and remediate gaps in inventory

Industry: Financial Services and Banking

Firm Size: Large US bank with 90% of business based in the US

Product: RegPlatform


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What did the US Bank do prior to CUBE?

This large, US bank was using a legacy regulatory change solution. While it used automation, it was not efficient and only captured around 60% of the bank’s total regulatory obligations. Because of this, the product still required a high degree of manual input to capture missing regulations,  provide supporting narrative, and map it to relevant internal policies and controls. As well as this, a third-party legal service provider had been brought in to map regulatory change to the company’s policies, procedures and controls.

What problem was CUBE brought in to solve?

The existing solution was not comprehensive, and left the bank exposed to regulatory scrutiny.

CUBE was tasked with streamlining the bank’s regulatory change process by automating it from beginning to end and ensure that gaps in the firm’s regulatory inventory were promptly identified and closed. Further, it was essential to the bank that CUBE could seamlessly integrate with their existing GRC solution, to allow for mapping of inventory to a repository of internal controls and policies.

Why did they choose CUBE?

This bank chose CUBE because of its ability to automate the full lifecycle of managing regulatory change – from capturing data, to classifying, transforming,  standardizing, and then mapping it to policies, procedures and controls. CUBE was able to provide a breadth of cross-jurisdictional regulatory data that other firms were unable to showcase and provide true interoperability of regulatory data across the organization with CUBE’s open API.

How has CUBE helped its regulatory change process?

CUBE deployed RegPlatform with a full suite of Modules, including RegInsight, RegBook, RegMap and RegConnect. This consolidated all previous systems into a single one-stop shop solution, while simultaneously automating manual mapping processes that had previously been outsourced to a legal service provider. As a result, the bank was able to reduce the cost associated to third-party assistance, improve efficiency through automation, and ensure that 100% of relevant regulatory data was fed into its regulatory inventory.



How CUBE can help

The regulatory landscape is constantly evolving, with emerging issues from crypto to cyber to ESG taking centre stage. CUBE is a SaaS-based RegTech designed to take the complexity out of regulatory change management using artificial intelligence and automation to deliver Automated Regulatory Intelligence. Whether you’re a large, multinational bank, or a small financial organization with up to a handful of compliance officers, we’ve got a suite of products tailored to you.

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