Investigating AML and KYC alerts

u3000u3000Smart data and artificial intelligence to reduce cost and workflow burdens for compliance personnelBangalore, July 26, 2016Financial technology solutions provider?NextAnglesTM?today announced the launch of its flagship compliance solutions for financial institutions grappling with increasing regulatory and market pressures.”“Compliance professionals need assistance in order to China Folding Umbrella Suppliers retain top talent and focus on material risks rather than data gathering.Developed by industry veterans with backgrounds in banking, artificial intelligence, technology solutions, and regulation, the suite leverages data analytics and cognitive computing to offer a new “smart compliance” approach.

“The prevailing piecemeal approach to financial regulatory compliance that most financial Institutions follow is unsustainable and siloed. Drawing on insights from integrated data graphs and artificial intelligence research, automation reduces compliance costs by at least one-third, increases speed of response to business and regulatory changes by a factor of three, and reduces instances of costly false-positive alerts.“Investigating AML and KYC alerts costs financial institutions billions of dollars annually.

 “A proliferation of regulations intended to prevent financial crimes and money laundering means institutions are devoting unprecedented resources just to monitor and identify compliance violations. The proposed approach of NextAnglesTM?in reducing the burden and stress of regulatory compliance holds great promise” said?Bart Chilton, former commissioner at the U.NextAnglesTM?converts data to “smart data” to make it context-sensitive. Commodity Futures Trading Commission.

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