New Compliance Platform

Regulators are now paying close attention to FinTech companies and how they operate as a result of the growth of artificial intelligence in compliance and communication platforms Like all other regulated institutions, Financial Institution must follow expanding set of regulatory requirements. The actual regulatory pain for FinTechs, ultimately, comes from scaling quickly despite entering new markets. In order to ensure compliance with the numerous complexities of various regulators' laws, their operations are subjected to increased review before adapting to new regulatory rules and obligations from various countries. Financial Institutions demonstrate compliance with regulations by implementing them into their procedures, policies, and controls. The standard technique for maintaining and updating these changes is largely manual and depends on consulting. Instead, they are using tools like artificial intelligence to change the approach to risk, governance, and compliance. Artificia...

Voice surveillance capabilities have evolved as the communication channel is increasing daily, and a surveillance platform is now a need of every financial institution to prevent and avoid market manipulation and illegal activities. Due to the high volume of consumer interactions each day, compliance is a significant and growing concern. Both regulators and customers have the right to see all call records if they submit a request. Voice technology is a key aspect of RegTech software because the voice is such a widely used channel. Extracting valuable information from voice recordings is difficult and time-consuming, and it frequently requires large teams of people to manually listen to calls. Voice technology allows for the automatic storage and indexing of 100% of relevant customer call records by converting voice recordings into text via transcription. They can then be accessed and searched by using keywords or phrases that are relevant. 10 Ways How voice surveillance can help in im...

  AI is making financial compliance and regulations cost-effective and easier than ever before by automating surveillance, Boosting the accuracy of noncompliance and regulatory change detection, preventing rule violations, and detecting financial crimes and market manipulation. Due to Automated Surveillance in Artificial Intelligence non-compliance detection is improved. AI will save $1 trillion in financial institutions by 2030. This results in a 22 percent savings in operating costs. These cost savings are achieved because of AI integration with older compliance systems, which improves productivity while also lowering operational expenses. Today's AI-driven compliance platforms can acquire and convert these varied forms of inputs into relevant compliance-related data more precisely and at a faster rate than people, due to enhanced surveillance that can record electronic, visual, and audible data. Local financial companies like Maybank and DBS are creating their own AI-driv...