AI Boosts Banks And Compliance Efforts PYMNTS.com

Will artificial intelligence help banks navigate the complexities of compliance more effectively? Against a backdrop where regulations have grown by leaps and bounds in the wake of the financial crisis, The Wall Street Journal reported that banks have taken on tens of thousands of new staffers tied exclusively to compliance. But a little technology muscle may not hurt either. WSJ noted that artificial intelligence is being deployed across a number of initiatives, which include anti-money laundering programs, sanctions lists and billing functions. The movement toward automation, of course, means that flesh-and-blood workers are free to take on other tasks.