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In an increasingly complex regulatory environment, RegTech is not just another buzzword or passing fad, it’s a commercial necessity. With a focus on critical areas such as financial crime exposure, climate reporting standardisation, green washing, psychosocial hazards and inclusivity, Thinkless RegTech empowers organisations to not only meet, but exceed regulatory expectations – transforming compliance from a challenge into a strategic advantage for sustainable growth.
By systematically integrating technology into compliance obligations, Thinkless RegTech cuts out manual handling, tames data disparity, and assures traceability and transparency to turn regulatory changes into a competitive advantage.
RegTech is fast becoming a primary focus for businesses, providing organisations with the tools they need to comply with legislative requirements and stay ahead of the curve in an increasingly complex and dynamic regulatory environment.
One of the biggest barriers to the implementation of RegTech solutions is the lack of awareness as to what RegTech is and why it is needed. Organisations need to understand how RegTech can drive compliance and pave the way for sustainable growth. To overcome this barrier, Thinkless RegTech offers education presentations and workshops for board members and executive leadership who need to keep on top of hyper-active legislation and regulation changes.
We outline the opportunities that RegTech offers, including how we leverage the right tech-driven services to streamline compliance with industry regulations, optimise operations and improve relationships with customers, employees and shareholders.
We go well beyond advisory, we implement solutions. For many businesses, regulatory compliance can feel like an insurmountable task and as a result compliance obligations can fall by the wayside. This leaves your organisation and stakeholders open to risk and leaves those accountable at risk of prosecution. To ensure you are meeting regulatory expectations, Thinkless offers comprehensive health checks and pulse checks to evaluate how your compliance posture addresses increasing regulatory demands, and then we put in place the measures in place to ensure your business is fit for purpose.
As regulatory landscapes evolve, so too must your compliance strategies. Thinkless RegTech Reviews go beyond surface-level analysis to offer a comprehensive understanding of your compliance mechanisms’ effectiveness against the backdrop of current and emerging regulations. Our reviews mean tech enabled compliances are met.
Our reviews dissect your organisation’s compliance with essential regulations in your industry, identifying and seizing opportunities that emerge from regulatory landscape changes. Our goal is to pinpoint strengths, uncover vulnerabilities and provide actionable recommendations that fortify your compliance posture, ensuring resilience against regulatory shifts and underlying threats. Our analysis always leads to actionable measures.
Thinkless RegTech Audits involve detailed evaluations of your compliance with regulatory standards, providing you with court-level, evidence-based assurance and insights into your compliance posture. Thinkless RegTech Audits provide a meticulous examination of your compliance practices, offering evidence-based assurance that your organisation is not just compliant, but ahead of the curve.
Focusing on critical compliance areas for your industry, our RegTech Audits assess the effectiveness of your compliance strategies and technology integrations. We verify that your practices comply with current legislation and regulations as well as relevant industry standards, providing you with the evidence you need to have always-on compliance.
Regulatory compliance is crucial for building trust, ensuring market stability and enhancing service offerings. However, navigating the complex regulatory landscape is increasingly challenging, with significant consequences for non-compliance. RegTech offers a transformative solution, simplifying compliance and redefining operational efficiency.
Thinkless RegTech leverages technology to not only keep pace with regulations but to also drive cost reductions, operational efficiency and improve customer experiences. Our approach extends beyond compliance, enhancing stakeholder value and promoting sustainability.
Our solutions streamline compliance processes, addressing financial pressures and enhancing risk and compliance functions’ efficiency.
We make navigating regulatory complexities manageable, addressing the challenges posed by new regulations, stakeholder engagement, data environments and legacy systems.
We provide cutting-edge solutions for staying ahead of regulatory changes, reducing the risk of penalties with greater accuracy
Our technology improves customer interactions and optimises corporate processes, aligning with regulatory expectations for consumer outcomes.
Thinkless RegTech supports businesses through these challenges, facilitating a smooth transition to innovative compliance solutions that enhance operational efficiency and engagement.
Environmental, Social and Governance (ESG) plays a critical role in driving real-world impact, sustained success and strategic advantage. Unfortunately, due to a historic lack of regulation in the ESG space, many businesses have let regulatory compliance fall to the wayside, resulting in a lack of accountability and transparency. As new ESG legislation and regulations emerge, Thinkless RegTech supports you in putting the ‘G’ back into ESG. We have your back, so you can stand confident that your compliance is covered.
Thinkless are demystifying ESG, focusing not only on what it is and how it affects companies, but more importantly why it matters. After all, it’s not just about doing the right things, but also doing them right. To stay compliant and competitive, organisations need to develop ESG frameworks that not only provide certainty across legal obligations and industry regulations, but also make a measurable impact that benefits organisations, employees and customers alike.
Just as ESG should be seamlessly integrated into your business practices, the individual elements of ESG are intertwined. For example, if you are seeking to comply with environmental legislation (E), whilst applying Indigenous Procurement Policies (S), your social criteria will overlap with the environmental criteria and with regulations (G).
Criteria focusing on your company’s energy use, waste production, resource needs and its impact on living beings, including carbon emissions and climate change. It’s about recognising that every company affects, and is affected by, the environment.
Criteria addressing your company’s relationships and reputation within communities you do business with and include labour relations, diversity and inclusion. It’s about recognising that your company operates within a broader, diverse society.
Criteria outlining the internal system of practices, controls and procedures your company adopts to govern itself, make decisions, comply with the law and meet stakeholder expectations. It’s about recognising that every company is a legal creation and requires governance.
Thinkless RegTech is facilitating the ‘G’ in ESG. We partner with you to ensure strategic governance, establishing the right systems and tech to ensure compliance is transparent, standardised and seamless.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Australian Prudential Regulation Authority (APRA) are the main regulators for Financial Crime Risk Management (FCRM), including anti-money laundering (AML), counter terrorism financing (CTF), anti bribery and corruption (ABC) and politically exposed persons (PEP). They gauge business’s adherence to key legislation such as the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, the Banking Act 1959, the Insurance Act 1973 and the Life Insurance Act 1995.
The Australian Prudential Regulation Authority (APRA) is currently the primary regulator responsible for monitoring false, misleading and deceptive claims of green initiatives. While there is no specific legislation in place for greenwashing, growing climate concerns and international standards, such as the UN Sustainable Development Goals are driving tighter regulations in this space.
Australian Securities and Investments Commission (ASIC) is responsible for regulating mandatory public facing sustainability and climate-related financial disclosures and reporting. Driven by ASIC and the International Sustainability Standard Board (ISSB), the drive for robust regulatory frameworks supporting sustainable finance is becoming a strategic focus for regulatory bodies.
Driven by the Work Health and Safety Act and state regulated legislation, Safe Work Australia is the main regulatory body for identifying, assessing and addressing psychosocial hazards in the workplace. In recent years regulation of these hazards has become more heavily regulated, evolving beyond mere managerial challenges to significant risks that can lead to state-based WHS violations and workers’ comp claims.
While there no legislation that specifically mandates DEI initiatives, there are many aspects of these initiatives that crossover with legislative requirements, including Age Discrimination Act 2004, Disability Discrimination Act 1992, Racial Discrimination Act 1975 and Sex Discrimination Act 1984. Key drivers for regulatory inclusion include the Reconciliation Action Plan (RAP) and Disability Royal Commission (DRC), with likely legislative changes expected to crack down soon.
