Compliance.ai: Regulatory Change Management for Financial Service Enterprises


CEO and Co-founder

“Our platform is growing quickly, both in terms of the capabilities we offer, and our client base of compliance and risk professionals.”

Risk appetite and risk tolerance ideas can play an influential and evident role in a company’s overall risk management in issue management. As a result, Compliance.ai’s technology improves how highly regulated firms approach compliance risk and modernizes compliance procedures for regulators and regulated entities. Compliance.ai provides regulatory change management (RCM) solutions tailored to the banking, financial services, and insurance industries (BFSI). For the clients, their unique Expert-In-The-Loop methodology offers expert oversight of modern machine learning technologies that simplify and streamline difficult RCM and compliance operations. Compliance.ai’s clientele comprises various BFSI organizations, from multinational conglomerates to newly started FinTech innovators. They enable compliance teams to handle the increasing number and pace of regulatory changes in real-time, ensuring that affected lines of business take necessary actions to meet requirements. A firm utilizes the technology to decrease compliance risk, cut expenses, and enhance enterprise-wide trust in compliance status.

Traditional GRC software options have been available for some time, but they were not built to solve the difficulties of Regulatory Change Management. In reality, the technology needed to enable Regulatory Change Management activities did not exist when such apps were created. GRC software, in particular, does not proactively monitor sources of new regulatory information, does not allow for the automatic analysis and enrichment of new regulatory content, and does not allow compliance, risk, and legal teams to deploy an RCM command center to monitor their compliance status. “Our platform is growing quickly, both in terms of the capabilities we offer, and our client base of compliance and risk professionals,” says KayvanAlikhani, CEO and co-founder of Compliance.ai. “The Series-A funding will accelerate expansion into international jurisdictions and expedite our mission of transforming compliance processes.”

The company’s regulatory compliance solution deploys configurable, personalized dashboards that highlight potential compliance issues for the entire enterprise. Reduces regulatory compliance risk by helping businesses to avoid audit and exam findings, enforcement actions, and fines. Moreover, the solutions are designed to help businesses to stay up to date before, during, and after the rule-making process for compliance regulations.

With the introduction of cloud computing, artificial intelligence (AI), and more powerful analytical capabilities, a new class of apps known as Regulation technology – or “RegTech” by Compliance.ai – was born. Recently, RegTech solutions enhanced compliance teams’ skills by providing a more flexible and automated approach to understanding and addressing regulatory obligations. This flexibility and automation assist compliance teams in increasing accuracy, increasing productivity, and reducing the likelihood of compliance gaps being missed. Compliance.ai is the only regulatory change management platform designed to decrease risk, cut costs, and boost trust in compliance status across the banking, financial services, and insurance industries.Compliance.ai is used by the clients to automatically monitor regulatory updates, identify requirements, and ensure needed modifications are executed.

The Compliance.ai software for compliance management monitors regulatory updates from any source and filters out content so that businesses receive only the information relevant to the enterprise. Each compliance specialist configures their own content preferences to stay current with the agencies, topics, and compliance requirements that they focus on.

Regulatory change management is the process of recognizing, understanding, and implementing regulatory changes to the risk and compliance frameworks, underlying programs, and, eventually, the operational environment and how to conduct the day-to-day business. Regulatory change management includes the creation of new laws and regulations and the modification of current laws and regulations, even when they are eased or overturned. Compliance.ai’s Regulatory Change Management reduces the risk of noncompliance by automatically monitoring the regulatory environment for updates, organizing and interpreting regulatory information, ensuring change activities are done and giving real-time compliance status data.

Compliance.ai’s Regulatory Technology solutions are a subset of FinTech that employs information technology to improve regulatory monitoring, reporting, and other compliance activities for the financial services industry. RegTech solution suppliers frequently focus on digitizing manual compliance activities, but RegTech has a lot more to offer financial institutions to improve their overall agility and competitiveness. Compliance.ai is committed to forming the world’s most powerful coalition of regulatory agencies, regulatory guidance content suppliers, compliance subject matter experts, legal advisers, industry journals, system integrators, and technology vendors. The Compliance.ai Alliance aims to help the whole financial services ecosystem enhance regulatory change management, compliance, and risk procedures.

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