A one-stop-shop for legal and regulatory docs
Responsible for driving forward better regulation at policy and operational levels, The Better Regulation Executive’s aim is to streamline its existing body of regulations to provide better, and more digestible, access to historical and updated legislation.
MDRx partnered with a leading European government-focused company to create an Open Regulatory Platform (ORP), which will serve as a central location where businesses, the public and other interested parties such as RegTechs, regulators and lawyers can quickly and easily access legal documents from 80+ regulatory bodies.
BRE realised that there is no central repository that houses legal and regulatory documents. This makes accessing and navigating UK legislation nearly impossible, especially for the lay person.
To help change this, BRE looked to create a platform which offered not only democratised access, but higher searchability and ease of navigation for all user types across the general population. This was through establishing a framework for an open regulatory platform (ORP), which would serve as this one-stop-shop for legal documents.
But with a range of document types from 80+ regulatory bodies, the idea of easy access, searchability and seamless navigation is – to say the least – complex.
MDRx created the infrastructure and developed the content structure needed to deliver this project. This included:
- A full Discovery phase to: Collect regulatory data and upload API for regulatory docs, establish a framework for searchability and data enrichment, define the structure of data lake, testing and QA process, ORP go-live and deployment timelines, validate the right technology to ‘go-to-market’
- Advanced analytical methods: By leveraging machine learning, NLP, predictive analytics, and graph technology, we created a taxonomy and extracted useful information from documents allowing for searchability of large quantities of data, linking related documents, and returning the primary or secondary legislation referenced within texts to the user
- Central access point (ORP) to: Make regulatory documents accessible for businesses, individuals, RegTechs, and other stakeholders to understand and comply with regulations. Links to legislation referenced within the text were included throughout.
The powerful combination of engineering techniques employed by MDRx allowed 1000s of regulatory documents to be processed efficiently and with proper search functionality and enrichment, producing an ORP which for the first time allows for:
- The one-stop shop site: The ORP website allows for better engagement with stakeholders, who can easily upload and search for regulatory docs, making a more user-friendly process
- Better compliance: ORP allows BRE and businesses to better track, monitor and ensure compliance with all regs
- Easily searchable legislation: Full searchability of regulatory documents makes it easier for the public and other stakeholders to find the information they need
- Levelled the legal playing field: With embedded hyperlinks and reference materials, legislation is contextualised and much easier to comprehend
- Major cost savings: By automating the process of managing regulatory and legislative documents, the need for manual labour and paper-based processes has been greatly reduced.
- Stakeholders set up for success: We invested heavily in ensuring the project’s stakeholders were set up for success through scalable technology, knowledge sharing and documentation.