As know-your-customer (KYC) and know-your-business (KYB) regulations tighten globally in response to a rise in financial crime, digital identity platforms can remove the pain and cost of compliance. Standard Chartered just joined HSBC in investing in Chekk, a KYC, KYB, and data-management platform that boasts an exhaustive dataset and easy integration. Standard Chartered is using […]
Tag: Compliance
As swamped compliance teams struggle to keep up with the rapid influx of regulatory documents and enforcement actions, AI-powered software that scans, synthesizes, and provides recommendations can improve productivity and reduce errors. Compliance.ai monitors sources of new regulation, uses machine learning to highlight the changes that are relevant to a given financial institution, and automatically routes […]
Software that tracks governance risk in real-time can both improve executive decision making and reduce audit failures, which in turn cuts down on reputational damage and fines. A Fortune 500 financial institution recently refreshed its governance process: In a matter of weeks, it went from manually managing its compliance program in Word Docs and Excel […]