True Office and Thomson Reuters Partner to Accelerate Enterprise Gamification
Financial services firms to benefit from business-critical regulation and
LONDON; February 07, 2013 - True Office, the company that gamifies regulatory
and compliance training, today announces a product development and distribution
partnership with Thomson Reuters, the world's leading source of intelligent
information for businesses and professionals, to create a range of new
applications to address regulatory and compliance training requirements for
financial services firms globally.
The deal will bring together True Office's expertise in gaming, mobile
applications and analytics with Thomson Reuters comprehensive governance, risk
and compliance content to develop a suite of new products including anti-money
laundering, data privacy and Dodd Frank. Together these will enable financial
institutions to more effectively plan, manage and implement compliance training
programs and assess risk across their organizations.
Commenting on the news, True Office Executive Chairman CristÃ³bal Conde said,
"The challenge of regulation and compliance in today's financial environment is
twofold: Â 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
Gartner, the information technology research company, has predicted that 40
percent of Global 1000 organizations will use gamification as the primary
mechanism to transform business operations by 2015. Gartner expects enterprise
gamification to surpass consumer gamification in 2013 with the worldwide
gamification market growing from $242 million in 2012 to $2.8 billion in 2016.
"The reputational risks and fiduciary costs associated with compliance are what
keep our clients awake at night," said Thomson Reuters Managing Director of
Enterprise Risk Management, Andrew Neblett.
He added, "The combination of gamification technology and analysis with high-
quality risk and compliance e-learning content will be of real benefit to our
clients. It will allow them to clearly identify and track areas where compliance
training may be needed within their organization and respond to those needs as
well as accelerating the businesses ability manage and mitigate risk."
"The True Office/Thomson Reuters partnership will break open new possibilities
for banks, allowing them to convert mandatory compliance training into an
impactful and quantifiable experience at a fraction of the cost of traditional
methods," concluded True Office Founder and Chief Executive Adam Sodowick." True
Office is pioneering a new industry standard for regulatory compliance training
that aligns with Thomson Reuters' customer proposition for governance, risk and
Both True Office and Thomson Reuters will be attending FinovateEurope, in London
on 12-13 February.
About True Office
The multi-billion dollar mandatory compliance training market has been largely
ignored by technological innovation until True Office. True Office Founder and
Chief Executive Adam Sodowick started the company in 2011. Based in New York
City with offices in Boston, True Office creates data-rich, mobile games that
help companies reduce risk and save money, transforming mandatory compliance
training into a fun, intelligible and quantifiable experience. Squarely in line
with key enterprise trends such as tablet and smartphone usage, mobile apps and
cloud services and decision analytics, True Office designs and delivers products
for a contemporary mobile workforce.
True Office was chosen to participate in the 2012 FinTech Innovation Lab. The
program, which is run by the Partnership for New York City Fund and Accenture,
supports the development of cutting edge technologies for the financial services
industry in New York City under the guidance and mentorship of chief technology
officers and other senior executives from 12 of the world's major financial
institutions as well as executives from leading venture capital firms.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businessesÂ and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organization. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges. For more information, go to http://thomsonreuters.com.
For True Office
+44 (0)207 935 4800
+44 (0)207 935 4800
For Thomson Reuters
+44 (0) 20 7542 0561
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Source: Thomson Reuters Corporation via Thomson Reuters ONE