Scan Horizon is the process of tracking and monitoring regulatory changes. It proactively scans the regulatory and internal landscape for changes. It involves identifying change, contextualizing the degree of change versus current rules, and understanding the changed rules to perform subsequent impact analysis.
Manual, noisy and error prone
Financial institutions hold large scan horizon teams that manually scan authoritative sources to identify all notifications for proposed and final changes. The regulatory triage team then maps the changes to existing rules, highlights the context, degree of change, pinpoints the exact nature of the change, and communicates with stakeholders who perform the impact assessment and change management processes.
ARIA powered SCAN HORIZON solution proactively identifies and notifies the change across regulators, parts, and compliance topics. It provides insights into the proposed and current state. It automates the task of tracking and monitoring all changes to material laws and regulations across multiple sources. It notifies the user on a daily and weekly basis about the changes for stakeholders to conduct a needed impact assessment.
Driving end-to-end visibility and intelligence into the change process from alert notifications to impact of change to actions.
Gaining a holistic view of obligations in an increasingly complex regulatory environment mitigates risks.