FIs are confronted with voluminous numbers of regulations and regulatory changes each year as well as heightened regulator expectations to enhance compliance in many areas. To maintain compliance and respond to regulatory mandates, FIs have large compliance and legal staffs to meet the challenges. Processes and controls are unsustainable.
Goals and Objectives
Use advanced technologies to modernize the regulatory change management process. Gain efficiency through automation, break down data and information silos, and create better transparency in the process.
Hardware: Enterprise hardware
Software: Analytics, AI, application platforms, and content workflow and management applications
Innovation accelerators: Cognitive machine learning
3rd Platform technologies: Big Data and analytics
Use Case Summary
AI applications such as intelligent process automation (IPA) and natural language processing should be leveraged to establish a holistic, sustainable, and agile process to comply with evolving regulations and guidance.