Fidelity Investments jumps into ‘regulatory technology’ space

Fidelity Investments, which claims to have 25 million retail accounts, has launched its RegTech business to offer support to financial institutions looking for tech-driven ways to deal with the huge surge in compliance demands.


Called ‘Saifr,’ the regulatory technology firm offers two solutions, SaifrReviewTM and SaifrScanTM. The combined offering enables greater collaboration between marketing and compliance teams to create faster compliant communications, while dealing with a host of regulatory overhauls.

With compliance demands growing and increasing in complexity every day, Saifr’s products offer a human-machine dynamic that enables computers to do the monotonous tasks of compliance review.

The statement further notes that smaller businesses may also find compliance or supervision of their own RegTech strategies more challenging due to their limited resource.

Following a successful trial period, SaifrReviewTM now helps customers automate their workflow across the thousands of documents used by compliance, legal, finance, operations and risk departments. As Saifr’s primary platform, it helps with content creation, including written materials, social media, audio, and video assets.

The second solution, SaifrScanTM, is an API-as-a-Service tool that analyzes and scores a firm’s communications and flags possible regulatory and corporate compliance violations in a detailed report.

Financial services struggle to stay compliant

“Ensuring that marketing materials are compliant with various regulatory rules requires multiple touchpoints inside and outside an organization, including content creation, compliance feedback, revisions, e-mail, and workflow hand-offs. As a result, the process can be inefficient and create the opportunity for friction and risk,” said Vall Herard, Managing Director of Saifr, Fidelity Labs.

“Saifr harnesses the massive amount of compliance data at its disposal and the power of deep learning models to augment the work of content creators and compliance professionals,” said Mona Vernon, Head of Fidelity Labs. “Saifr’s solutions streamline the compliance review process all in one platform to support efficient collaboration between marketing, legal, compliance and external consultants.”

While the financial services space is still largely addressing compliance in a manual way, employing thousands of people, FinTechs are making their way forward.

Fidelity believes that while the sector struggles to keep up and stay compliant, its solutions will provide a comprehensive audit trail and ensure compliance with the ever-shifting regulatory landscape.

The new RegTech solutions help address a number of different regulatory challenges amidst increasing demand for automated workflows. Saifr leverages Fidelity’s expertise to make compliance easier to manage through collaboration in a highly regulated industry.