Thomson Reuters and True Office to gamify financial services

News 7 Feb, 2013

Suite of products will deliver staff training and alert supervisors to risky behaviour.

Compliance training firm True Office has teamed up with Thomson Reuters to further the reach of gamification.

Under the terms of the deal, True Office will develop a range of new applications targeted at the regulatory and compliance training requirements of the international financial services industry.

Few, if any, applications outside of gamification can successfully engage employees while generating actionable data

The products will include training on anti-money laundering, data privacy and the Dodd-Frank (Wall Street Reform) Bill.

The companies claim the suite of products will enable financial institutions to effectively plan, manage and implement compliance training programmes and assess risk across their organisations.

Analyst house Gartner has predicted 40 per cent of Fortune 1,000 organisations will use gamification as the primary means to influence behaviour and engage with employees by 2015.

Cristóbal Conde, executive chairman at True Office, said: “The challenge of regulation and compliance in today’s financial environment is twofold: first, transforming training from a punitive tax into an opportunity to promote more responsible corporate citizenship and second, gathering data to quantify risk in a complex regulatory environment.

“Few, if any, applications outside of gamification can successfully engage employees while generating actionable data.”

Andrew Neblett, managing director of enterprise risk management at Thomson Reuters, said: “The reputational risks and fiduciary costs are what keep our clients awake at night.

“The combination of gamification technology and analysis with high-quality risk and compliance e-learning content will be of real benefit [to them].”