Model Office

[jim.farrell]

Integration overview

We are pleased to share the news that a new third party integration is now available for Xplan users. 

This is a standard integration which means that it was built by the third party to connect to your Xplan site via the standard integration template.  Iress does not charge for this service and it can be enabled by your own site administrator using the Iress Open setting within your Xplan site.

Integration summary

Model Office – IRESS Xplan is a one-way integration. From IRESS Xplan relevant data fields are assessed by Model Office algorithms and benchmarked against relevant regulations and data quality standards and outputs represented on Model Office regulatory reporting dashboards.

Software type:Governance, Risk and Compliance AI RegTech

Locale(s):  UK

Contact details for integrator: support@model-office.com

Website for integrator:https://www.model-office.co.uk

Description provided by the integrator:

Model Office – Iress Xplan is a one-way integration. In Model Office integration control dashboard choose Iress Xplan, add relevant client name to assess and Model Office algorithm Iress API integration will assess relevant data fields and benchmark against relevant regulations and data quality controls.

Model Office enables firms to self-audit their client data against relevant regulations, e.g. The Consumer Duty, and also offers data quality health checking auto-auditing client data for duplication and missing data fields.

Monitor AI integration with Xplan enables firms to auto-audit client file reviews and compliance document template scans, with firms inputting a client name and through the Iress Xplan API, client file documents can be audited RAG rated, with note functionality to build audit trails and individual compliance document templates (e.g. suitability report) can be auto-audited and scanned to gain real time AI driven audit reports with underlying guidance and good practice information and RAG rating each document section to improve compliance strengths.

Model Office is a SaaS built with on the very latest cloud-based technology offering end-to-end, agile and flexible governance risk and compliance AI RegTech which enables each firm’s third line of defence and audit trails.

IMPORTANT NOTE - While in pilot this integration is not currently available for people on multi-tenanted sites. If you are unsure if this applies to you, speak to your local site administrator. 

Setup instructions

Integrations are a connecting doorway between two systems and you will need to enable these from both the Iress Xplan and the Third Party integrator side before they can be used.

In Xplan: 

While in pilot please contact Iress via your account manager to have this integration enabled

In your third party integrator software: 

Integration is through IRESS API which is accessed via the Model Office dashboard by choosing the IRESS Xplan link and once completed, Model Office represents the outputs via regulatory dashboards.