The company has promised to bring enhanced efficiency, reduced costs, and improved customer satisfaction in the face of ever-increasing industry wide risk and compliance demands. Founded in 2021, GSS uses artificial intelligence and machine learning technology to streamline transaction and information processing. With an initial and immediate focus on sanctions compliance, the business is developing a full suite of offerings to assist global financial services institutions to meet evolving regulatory obligations, manage risk, and increase efficiency. GSS now operates as a standalone company with approximately 120 financial services and technology experts currently engaged in the new company's activities. To date this team has worked alongside over thirty financial institutions, payment infrastructure providers and international regulatory bodies across the globe to bring its initial sanctions screening service to market, culminating in a recently announced partnership with SWIFT, the global provider of secure financial messaging services.

NatWest is ready to trial AI technology following its partnership with Recordsure. NatWest is just the latest big bank to tap into the power of AI, with the high-street lender trialling new technology to give customers the best possible information and advice. The trail will see NatWest tap into an AI compliance tool from Recordsure, which will record face-to-face and telephone conversations between the bank and customers. The AI tech encrypts and uploads the recordings to a secure cloud in real-time, making it impossible to tamper with. The AI technology analyses interactions and classifies sections of the recorded conversation.