We first did it the manual way…

GRC WATCH is a Swedish RegTech company with a headquarter in Stockholm. A company started by legal counsels who had worked on the inside of financial institutes for more than 10 years. Struggling with the manual work related to many types of due diligence. Especially regular controls of product suppliers, distributors and outsourcing partners.

Linda Hellström, Founder

Susanna von Langsdorff, Partner

2005: The need to speed-up negotiation of agreements.

Linda Hellström and Susanna von Langsdorff were working as legal counsels for an asset manager with distributors all over the world. They started thinking, what if we could speed up negotiation of distribution agreements?

Linda Hellström
Founder

2013: A lot of email and copy pasting.

Linda was working as a compliance officer for a global platform of funds. She was filling out hundreds of due diligence questionnaires. The dream of a mutual questionnaire was born. What if we could use the same answers in relation to all partners?

2014: The dream of a mutual questionnaire.

Linda placed hundreds of questionnaires on the floor and concluded that approximately 85% of the questions were more or less the same. What if we could share the same information with many companies at the same time?

2015: 36 hours for 1 on-site meeting.

A few years before MiFID II, the number of on-site due diligence meetings started to increase. Between 4 – 6 persons could spent 4 – 6 hours per meeting. Almost 36 hours… What if we could exchange better data and avoid these meetings?

Susanna von Langsdorff
Partner

2016: A global network with company profiles.

Everyone started to stress about MiFID II and the need to perform due diligence on a regular basis. Meanwhile, on a beach in Thailand, Linda started to connect the dots and the dream of an online tool for due diligence was born, Governance, Risk and Compliance, GRC WATCH.

Companies of all sizes
Connect and request reading rights

Companies of all sizes
Connect and request reading rights…

2017: Two-way due diligence.

Avanza was one of the first to use GRC WATCH. They invited asset managers from many different countries to create a profile. Asset managers and distributors used the tool for due diligence in both directions and stayed compliant with laws and regulations like MiFID II.

2018: Due diligence in many directions.

Why just use GRC WATCH for two types of due diligence when we are sharing the same documents in many due diligence processes? New types of profiles were developed and we saw that many departments in the same company could benefit from sharing a company profile.

2019: What would make you jump out of your chair?

There has been a lot of focus on having the “right” questions in the questionnaire. We think about that a lot, but we think even more about the indicators of risks that you need to see. And how to speed-up your business by signing agreements faster. We’d like to hear your ideas!

2020: To be continued…

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