Intapp has acquired cloud-based employee compliance software solution provider Paragon Data Labs, which helps businesses to monitor, identify, and manage employee adherence to firm policies in a centralized location.
The new offering from Intapp, to be marketed as Employee Compliance, combines personal trading oversight, employee disclosures, and attestation management to help firms stay aligned with regulations and protect against reputational risk. The solution monitors, maintains, and presents data to compliance professionals in a way that makes it easy to spot issues and take action.
Key benefits of the solution include:
- Accelerated pre-clearance process — Streamlined and automated workflows use broker data connections and alerts to quickly discover conflicts of interest for analysis and processing.
- Centralized employee access — Promote employee engagement and timely completion of documentation while enabling compliance teams to track employee progress and send notifications, reminders, and escalations when needed.
- Holistic view of employee activities — Centralized data and dynamic reporting dashboards move firms away from spreadsheets and disparate systems, allowing compliance teams to easily spot connections and draw conclusions.
- Auditable system of record — Comprehensive history of compliance checks is easy to pull for company management or regulators.
“We have seen firms place an increasing focus on ensuring employees remain in continual compliance with different––and often quickly evolving––regulatory standards and a desire for the associated workflows and data to be integrated into their wider compliance processes,” said Nigel Riley, general manager of risk and compliance at Intapp. “Paragon’s capabilities will let us address personal regulatory requirements such as SEC code of ethics, personal independence, and employee trade monitoring, and—in combination with our existing risk and compliance solutions—provide a comprehensive compliance solution for our clients.”
Paragon Data Labs was founded in 2020 by three former BlackRock employees, including Paragon CEO Jefferson Mitchell, who will join Intapp to lead the employee compliance business line. In addition, Intapp will welcome his team of product, engineering, support, sales, and sales engineering specialists, who bring deep experience in and understanding of the ever-changing compliance environment.
Mitchell said: “Intapp’s broad and diverse client base, as well as its expansive reach in the market, make the company the ideal fit to bring our vision for Paragon to the market we knew it was designed to serve.”