Iress announced the integration of leading regtech provider Objective Corporation (ASX:OCL) with its blockchain technology.
Earlier this month Iress announced it was building a complete solution supporting the industry in complying with the upcoming Design and Delivery Obligation (DDO) legislation. This announcement will drive even greater efficiency by enabling product issuers to publish Target Market Definitions (TMDs) created through Objective’s Keystone software directly into the blockchain, ensuring distributors have access to the latest version.
Objective is a major supplier of regtech solutions for financial services, government and private enterprise, specialising in creating automated solutions for managing disclosure, governance and documentation requirements. Objective Keystone is used by several of Australia’s leading financial services organisations for the production of Product Disclosure Statements (PDS) and other compliance documentation, Objective Keystone customers publish thousands of disclosure documents each year.
The Keystone TMD solution supports product issuers through the template design, including the authoring, approval, and publishing processes. Through integration with Iress’ DDO solution, the organisation using Keystone will be able to publish their approved TMD directly into the blockchain - enabling product issuers direct access to the messaging service with connected distributors.
Iress chief commercial officer, Michael Blomfield, said: “We are delighted to announce the integration of Objective Keystone into the Iress blockchain-based DDO solution. This legislation represents a challenge no traditional system or process in this industry can overcome, or that any one party can solve in isolation. We’ve seen strong interest from across the industry in a solution which addresses this challenge of multilateral validation and communication in a way that doesn’t add unnecessary cost or complexity. Today’s announcement represents another step forward in achieving this.”
Objective’s CEO, Tony Walls said: “We are pleased to partner with Iress by integrating with its blockchain solution for managing DDO. We know that our Keystone solution helps organisations reduce costs while strengthening risk and governance protocols which is why our solution is purpose built to help financial services businesses manage the new TMD obligations. We are excited about the combined expertise of our software with Iress’ technology solution in further driving down cost and increasing efficiency in financial services.”
Iress (IRE.ASX) is a technology company providing software to the financial services industry.
We provide software and services for trading & market data, financial advice, investment management, mortgages, superannuation, life & pensions and data intelligence.
Our software is used by more than 9,000 businesses and 500,000 users globally. We have over 2,000 people based in Asia-Pacific, North America, Africa, the UK and Europe.
Objective Corporation (ASX:OCL) creates information and process governance solutions that are effortless to use and enable organisations to advance their own digital transformation.
Designed for regulated industries, these solutions turn the imperative of compliance, accountability and governance into an opportunity to streamline business processes and deliver the innovative services that customers expect.
With a heritage in Enterprise Content Management (ECM), Objective’s expanded solutions extend governance across the spectrum of the modern workplace; underpinning information, processes and collaborative work-spaces.