Artificial Intelligence will drive the future of FinTech - Comply Advantage

Business functions such as compliance, which historically rely on rules-based systems, are ripe for the use of AI. This has been a key driver of recent innovations in regulatory technologies (RegTech). Rules-based systems produce large quantities of "noise" – vast amounts of unstructured and mostly irrelevant information which humans need to manually review, creating a considerable mundane burden for even the largest of compliance teams. By automating simple tasks like real-time scanning of changes to Sanctions and Watchlists workloads can be significantly reduced. Smart systems that learn from your decisions can also dramatically reduce the number of'false positives' (incorrect risk alerts) produced by searches, in some cases by as much as 60%.