ActiveOps PLC ActiveOps launches CaseworkiQ RegTech Solution
06 June 2022 - 4:02PM
RNS Non-Regulatory
TIDMAOM
ActiveOps PLC
06 June 2022
06 June 2022
RNS Reach
ActiveOps Plc
("the Company" or "the Group")
ActiveOps launches CaseworkiQ RegTech Solution
Innovative tool addresses the specific workforce management
needs and regulatory pressure on back-office operations processing
case-based work.
ActiveOps plc (AIM: AOM), a leading provider of Management
Process Automation (MPA) software for running complex and global
back-offices, is pleased to announce the launch of CaseworkiQ,
which addresses a new segment of its existing customer
population.
CaseworkiQ enables the smarter management of capacity in
environments processing case-based workflows. These are typically
tasks with multiple stages, which might take weeks or months to
complete, such as the completion of Know Your Customer (KYC) and
Anti Money Laundering (AML) by banks, or complaints and claims
processing for insurance companies. The complexity of these types
of workflows makes them challenging to measure, forecast and plan
capacity. Such workflows are often subject to high levels of
regulation and if completed incorrectly or not within the committed
time, expose the organisation to risk of fines and reputational
damage. These pressures have led to many organisations
significantly increasingly administrative headcount to mitigate
these risks.
Through the implementation of CaseworkiQ, organisations can
expect to receive productivity gains, demonstrate control and
resilience to regulators, and optimise planning to increase surety
on performance thereby reducing the risk of financial
penalties.
The offering is highly applicable across the Group's existing
customer base, widening the addressable customer population.
CaseworkiQ will be sold on a per user annual licence, adding to the
Group's levels of recurring revenue.
CaseworkiQ's first customer is the financial crime function of a
UK high street bank and is an existing ControliQ customer. The
deployment of CaseworkiQ resulted in a productivity improvement of
21%.
ActiveOps CEO Richard Jeffery commented: " The growth in the
regulatory environment, coupled with the ongoing challenges of
hybrid working, are driving our customers to increase their focus
on the more challenging areas of their back-offices. They are
investing to ensure they can meet their regulatory and service
level commitments, which is why we're excited that we now have the
ability to offer a workforce optimisation solution specifically
developed to meet the specific needs of complex case-management
operations.
"We have identified a significant opportunity for CaseworkiQ
across our existing target sectors and geographies and are excited
by the additional growth driver it represents."
For more information, please contact:
ActiveOps Via Alma PR
Richard Jeffery, Chief Executive www.activeops.com
Officer
Patrick Deller, Chief Financial
Officer
Investec Bank plc +44 (0)20 7597 5970
Corporate Broking & PLC Advisory
Patrick Robb / David Anderson
Alma PR + 44(0) 203 405 0205
Caroline Forde / Sam Modlin
About ActiveOps
ActiveOps is a leader in Management Process Automation (MPA),
providing a SaaS platform to large enterprises with complex and
often global back-offices. The Group's software and embedded
back-office operations management methodology enables enterprises
to adopt a data-driven, scientific approach to organising work and
managing capacity.
The Group's enterprise platform comprises Workware+, its MPA
software platform, and AOM, the Group's operations methodology and
framework for effective back-office management. Together, this
combination of software and embedded methodology enables operations
managers to balance the competing priorities of meeting service and
quality standards while improving productivity and reducing
cost.
As at 31 March 2022, the Group has 190 employees, serving its
global customer base of approximately 80 enterprise customers from
offices in the UK, Ireland, USA, Australia, India and South Africa.
The Group's customers are predominantly in the banking, insurance
and business process outsourcing (BPO) sectors, including
Nationwide, TD Bank, Anthem Inc and DXC Technology.
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