Tag: Compliance 2023
Deciphering the fusion of AI and human expertise in Risk Management...
The ongoing AI revolution is indisputably transforming risk management and customer identification processes (KYC), even though human input remains pivotal to these functions. Moody's Analytics recently delved into how AI will transform risk management and know your customer (KYC) compliance.
Citi and FINOS kick-start open cloud standard initiative
The Fintech Open Source Foundation (FINOS), a hub for open innovation in financial services, and Citi, a leading global bank, have partnered to launch a project focusing on open standards for cloud control in the financial services sector.
Clausematch and RiskInk join forces to boost RegTech offerings
Clausematch formed an alliance with RiskInk, a boutique risk management consultancy with unparalleled experience in policy drafting.
Sigma’s AI: Revolutionising risk management and compliance
Sigma, recently ranked in the AIFinTech100 for 2023, is driving innovation with AI to offer robust and scalable risk management solutions. Their unique use of AI technologies makes the platform indispensable for current and prospective clients.
Unravelling the power of data analytics for effective claims handling
In a recent post by Cognitive View, the company provided complaint insights to reduce claims disputes and compliance issues.
Ascent and Diligent team to streamline regulatory compliance in FinTech sector
Ascent, a solution aimed at simplifying and streamlining regulatory compliance, has entered into a strategic partnership with Diligent.
Large language models in FinTech: A boon or bane for compliance...
The technological revolution is making the job of compliance officers increasingly intricate. From record-keeping to monitoring approved communication channels and adapting to the ever-changing world of social media advertising, the list of challenges seems endless. A burning question for many is the potential influence of large language models (LLMs) on their profession. Will LLMs simplify their tasks or add complexity?
Despite hefty fines, financial institutions still struggle with monitoring unapproved communication...
A new survey by Shield and LeapXpert underscores the continued risk financial institutions face from unmonitored communication channels. Only 51% of the financial institutions...
Harnessing KYC technology: Reducing costs and increasing efficiency in financial institutions
In the ongoing global efforts against money laundering, the task of comprehending customer identities has proven to be a crucial element in Know Your...
Harnessing AI for compliant communication ahead of FCA’s Consumer Duty
The UK's Financial Conduct Authority (FCA) recently released a ten-point checklist for companies in anticipation of the new Consumer Duty regulation set to be enforced on July 31, 2023. This regulation marks a pivotal shift in the regulatory landscape, impacting both new and existing services and products available for sale or renewal.
