True Office Launches Anti-Insider Trading Training Game
(PRWEB) July 31, 2013 -- True Office, the company that gamifies regulatory and compliance training, today announces the launch of its anti-insider trading game. The game, which uses the scenario of a fictional investment bank (RXG Capital) accused of insider trading, is intended to help companies more accurately identify and manage risk through reality-based, experiential learning.
"Despite investing vast amounts of time and money, the news headlines over the last few weeks are once again demonstrating that most traditional approaches to compliance training can be gamed in the worse sense of the word”, said Adam Sodowick, founder and CEO of True Office. “Applying gamification techniques to compliance training not only creates a significantly more meaningful learning experience, it also produces powerful data to help raise red flags around questionable grey areas in a safe environment. Unless policy translates into true meaning, companies will continue to open themselves to huge regulatory fines and public discredit.”
The storyline of the anti-insider trading game explores whether sensitive information about an obesity drug in development by Litzer Pharmaceuticals was shared by a fictional employee of the organization with RXG Capital. The player is tasked with investigating locations, analyzing items and interviewing key employees to determine whether certain actions constituted insider trading. The goal is to determine if RXG Capital was guilty of shorting Litzer shares before the information became public.
The 15 minute mobile and desktop game is played out over multiple locations in New York City and provides participants with an immersive and interactive way to learn about the rules and regulations surrounding insider trading while producing actionable data for companies.
True Office games were first piloted in Barclays, Morgan Stanley and Citigroup as part of the 2012 FinTech Innovation Lab program which is run by the Partnership for New York City Fund and Accenture. The games are now being developed and rolled out across the US and UK, primarily for financial institutions and other companies that work within complex regulatory environments.
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 2010 to solve a longstanding problem: the tedium and high cost of regulatory compliance training. Based in New York City with offices in Boston, True Office creates data-rich desktop and mobile games that help companies reduce risk and save money, transforming mandatory compliance training into a fun, intelligible and quantifiable experience. In line with key enterprise trends such as tablet and smartphone usage, enterprise apps and decision analytics, True Office designs and delivers products for a connected 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.
Contact:
Sara Firouzyar
+44 (0)20 7935 4800
sara(at)gongcommunications(dot)com
Sara Firouzyar, Gong Communications, http://www.gongcommunications.com, +44(0)20 7935 4800, [email protected]
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