Kaizen Reporting is celebrating after its ReportShield™ quality assurance testing service was awarded the Best Compliance & Regulatory Solution at this year’s Fund Services Awards, held in London this week.
Kaizen CEO and Founder, Dario Crispini, said, “Winning this award is further recognition of ReportShield’s pioneering approach to testing and the impact it is having on today’s complex and challenging regulatory environment.”
Dario, a former regulator, set up Kaizen four years ago with industry reporting expert Ian Rennie, to improve the quality of regulatory reporting in the industry. They devised a new approach to testing regulatory reporting which provides firms with full transparency of their data, so that any errors can be identified and remedied quickly and easily.
Judges said ReportShield’s “Ability to run a significant number of tests across a report is impressive. The capacity to fully assess reporting quality at source and across each and every data field is excellent and a major step up from a traditional small data sampling approach. A best in class approach that is underpinned by a strong legal and compliance ethic that can pick up minor errors and shortcomings.”
They concluded, “Kaizen’s ReportShield is a valuable tool to the fund management industry, particularly clients looking for MIFID trade and transaction reporting.”
Dario commented, “It’s a critical time for fund managers as they prepare, many for the first time, to report under MiFID II, which significantly increases reporting complexity. We are helping a number of fund managers get the right testing and controls in place for the go-live in January 2018, which is just around the corner.”
Earlier this year Kaizen’s testing innovation was recognised when it was awarded a Queen’s Award for Enterprise, one of the UK’s highest business accolades.
“Kaizen’s mission is to provide our clients with confidence in the quality of their regulatory reporting. This award further cements our position as the leading regulatory reporting assurance providers. I’d like to thank the entire Kaizen team and all our clients and partners for their support,” Dario added.