Reuters and IBM Partner to Offer Regulatory Intelligence Solution

Thomson Reuters and IBM announced a new partnership this Wednesday.

Imaginatively named IBM and Thomson Reuters Regulatory Intelligence, the two firms released a statement saying that their new service will help financial institutions meet compliance standards.

The regulatory intelligence service will be delivered using the IBM Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term which, as you can probably tell, is the technology giant’s cloud computing service.

IBM already claims to work with 97 percent of the world’s tier-1 banks. Thus, finding new clients to take up the new service shouldn’t be too hard.

In fact, customers using the tech firm’s OpenPages service will have access to the new service starting from today.

Old partnership, new product

This is not the first time that IBM and Reuters have collaborated.

Four years ago, the two companies announced that they were partnering to deliver solutions and products using those two buzziest of buzzword technologies - artificial intelligence and Big Data Big Data Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Big data refers to the collection of data that is too complex and too large for processing by standard database tools. There is no specific quantity of data, which is set as a minimum level to be considered Big data. Image the data collected on global credit card transactions. Many governments used Big data analysis to study the recent pandemic spread. The term Big data was first introduced in 1980 by Charles Tilly.The term Big data was primarily used in computer science, statistics, and econome Read this Term.

Since that partnership was announced, the two firms have worked on problems facing the healthcare industry and broader challenges like data privacy.

The decision to work on a new compliance product seems to have been driven by demand.

According to Reuters, there will be 300 million pages of financial regulations by 2020.

By this author’s estimation, if the average page had 300 words, and a normal person took one minute to read one page, that would mean it would take almost two years of reading, without stopping once, to read through all of those financial regulations.

As that is the case, it’s probably fair to say that products akin to the one offered by Reuters and IBM are needed. And, if you don’t think so, then you better start reading.