Droit and KOR Partnership Delivers Global Reporting Platform With Leading Consensus Eligibility Service
Industry-trusted solutions combine to provide unparalleled reporting capabilities in advance of complex global regulatory rewrites
NEW YORK and LONDON, Nov. 15, 2023 /PRNewswire/ -- Droit, a technology firm at the forefront of computational law and regulation, along with KOR, the innovative provider of global reporting services and trade repositories, today announced a partnership that embeds Droit's leading Adept eligibility service in KOR's modern platform.
KOR and Droit have come together to address persistent industry challenges amidst evolving regulatory change. KOR's modular end-to-end reporting service is complemented by Droit's trusted and consensus-driven eligibility rulesets for reporting obligations. The result is unparalleled transparency and control across each processing stage for accurate, compliant and timely reporting.
Clients derive operational value immediately via a single access point to KOR that seamlessly delivers all Droit Adept capabilities. Droit Adept decisions automatically trigger KOR reporting to the correct regime and provide the critical insights necessary to properly manage over/under-reporting reconciliation. In a continuously evolving regulatory environment, Droit's management of eligibility rules combined with KOR's direct regulator interface enables clients to always remain ahead of the game.
Financial institutions choose KOR for its advanced technology designed with compliance, performance and evolution at its heart. Reducing risk through a single global platform, KOR empowers clients in all aspects of reporting, data collection, rules, validation, submission, reconciliation, and exception management.
"At the core of our trade reporing platform lies a dedication to user experience, hyper-transparency and self-service capabilities," states KOR CEO and Founder Jonathan Thursby. "Partnering with Droit is wholly complementary in our mission to bring the most advanced capabilities to our customers that help them submit complete and accurate reports in a timely manner, every single day."
"Our clients face accelerating regulatory change, while at the same time, regulators continue to raise their expectations for compliance. At this critical juncture, KOR and Droit's partnership will set the new benchmark for strategic reporting solutions," said Brock Arnason, Founder and Chief Executive Officer of Droit. "By integrating our patented Adept platform and proven, consensus-driven eligibility rules into this joint service, KOR's next-gen platform now offers firms unrivaled traceability, transparency, and auditability."
Droit is a technology firm at the forefront of computational law and regulation within finance and other domains. Founded in 2012, Droit counts many of the largest financial institutions as its clients. Its award-winning, patented platform Adept provides an implementation of regulatory rules reflecting industry consensus. The Adept platform processes tens of millions of inquiries a day, deciding in real-time which interactions are legally permissible across the globe. Adept is used by institutions to evaluate, with sub-millisecond latency, the full regulatory implications of any given interaction within their transactional infrastructure.
For more information visit droit.tech. To obtain more information about Droit's products, please contact [email protected].
U.S.-based KOR is a fintech company that develops future-minded technology innovations tailored specifically for derivatives markets. KOR Reporting Inc is an operator of global licensed derivative trade repositories. KOR Financial Inc delivers a full suite of modular services that enable market participants to meet derivatives reporting mandates with unparalleled operational efficiency, user centric designed systems, full processing transparency, and comprehensive self-service capabilities. Founded in 2020, the KOR team comprises former trade repository heads, top domain SMEs and technology pioneers, creating a ground up platform specifically for transaction processing.
For more information, visit korfinancial.com or contact [email protected].