Rhisco Solutions: Simplifying Regulatory Transformation and Compliance for the LATAM Market

Marta Margol, Head of Product
Oftentimes, growth appears to be a gradual process for a long time, and then it takes off suddenly, all at once. Such is the case with Latin America (LATAM), which is no stranger to the booming Fintech phenomenon rapidly impacting the region. As with other countries, LATAM must face new regulatory challenges that technology and innovation bring about in the financial arena. Moreover, as global financial institutions are swiftly defining markets, businesses, client segments, and products into the ‘core’ and ‘non-core’ categories, the LATAM market faces its own set of challenges in adopting digital financial services. In the LATAM region, financial services has always had low adoption rates, with the majority of the consumers still being underbanked or unbanked altogether. It is also ridden with multiple regional challenges, including negative Gross Domestic Product (GDP) growth, which has only heightened the complexity of financial operations in the region. As a result, there is a growing need in the LATAM market for digitizing their financial processes while catering to existing end-consumers and drawing more potential consumers within the formal financial system.

In response, Rhisco Solutions, a niche risk and regulatory technology solutions and services provider, is leading the way for financial institutions to adopt digital transformation initiatives with its TEGRA® and Allgood.ai® platforms. The British-Mexican company witnessed the lack of digitized workflows resulting in increased inefficiency among businesses. The company offers robust and ambidextrous solutions and services to help clients deal with the increased regulatory strain and supervision while balancing innovation with legacy technology. “As we have heritage and a strong presence in LATAM, we are better equipped to understand how the market evolves and address its needs effectively,” states Marta Margol, the Head of Product at Rhisco Solutions.

Rhisco started its journey by offering consulting services to banks and insurance companies but soon realized a growing need for technology and technical solutions to help clients speed up their innovation. The company also witnessed that traditional financial institutions were overwhelmed with old processes and new regulations, making their operations very slow and expensive and that many technology startups in the financial sector are facing several challenges around regulatory compliance in their journey to acquire licenses and establish competitive businesses. It was also one of the pioneers in introducing a new standard to use AI in regulatory technology for Spanish-based regulations.

Rhisco’s award-winning solution TEGRA® platform, the leading-edge analytics and data management platform, is designed to address clients’ risk and capital needs, including regulatory reporting for key markets in the LATAM region. This platform helps businesses adhere to compliance requirements, reducing costs and delivering business benefits, such as having the right information on time for decision making. It empowers clients to have complete control over their data.


As we have heritage and a strong presence in LATAM, we are better equipped to understand how the market evolves and address its needs effectively

Clients get full data lineage and can go back and make modifications or additions on top of the initial data with access controls.

Rhisco also has recently launched its RegTech solution, AllGood.ai® that helps clients reduce cost by accelerating the performance of their legal and compliance teams and democratizing regulatory expertise across their company. They can easily automate repetitive and manual work with cognitive functionality, facilitating collaboration, better analysis, and decision-making. The company leverages new technology to connect the regulations and presents a regulatory map with visual references and interrelations among various regulatory documents. With its regulatory change management capability, users can easily collaborate with internal and external teams accordingly while analyzing the impact of changes in the regulatory environment.

In its commitment to deliver fast and quality products to clients, Rhisco offers both TEGRA® and AllGood.ai® as SaaS solutions, offered as risk and regulatory technology on demand. This ensures cost reduction, flexibility, and efficiency as clients can easily scale-up or down with these products. By significantly addressing their operational risk, Rhisco is creating trustworthy relationships with clients. The company is driven by its passion and has an exceptional team with business expertise in risk management, banking, data science, digital transformation, development, and AI to support clients end-to-end. Along with its industry knowledge, Rhisco also has client-facing professionals who play a vital role in helping clients utilize its solutions and ensure quality and gain to them. “We pair our platforms’ excellence with our people’s expertise to offer solutions that are a best-fit for fulfilling clients’ demands,” adds Marta.

Rhisco aims to have several clients in production for both its products by the end of this year and continue to create better, improved solutions for the everevolving LATAM financial market. The company is also looking at expanding to other countries with its risk and regulatory compliance offerings. Apart from its plans in the B2B space, Rhisco is looking to expand its Allgood.ai® platform into the B2C ecosystem to help individuals establish their own businesses without having the required regulatory expertise. “Our goal is to expand from B2B to a more open and global landscape and help all kinds of businesses, internationally,” concludes Marta.

Company
Rhisco Solutions

Headquarters
London; Mexico City; Sao Paulo; Montevideo

Management
Marta Margol, Head of Product

Description
Rhisco Solutions, a niche risk and regulatory technology solutions and services provider, is leading the way for financial institutions to adopt digital transformation initiatives with its TEGRA® and Allgood.ai® platforms.The company offers robust and ambidextrous solutions and services to help clients deal with the increased regulatory strain and supervision while balancing innovation with legacy technology.Rhisco offers both TEGRA® and AllGood.ai® as SaaS solutions, offered as risk and regulatory technology on demand. This ensures cost reduction, flexibility, and efficiency as clients can easily scale-up or down with these products. By significantly addressing their operational risk, Rhisco is creating trustworthy relationships with clients