Complyport, a leader in RegTech solutions, has introduced ViCA.Chat, a cutting-edge Virtual Compliance Assistant powered by AI.
Established under the ComplyMAP Group, Complyport has been at the forefront of regulatory compliance consulting for over two decades.
The development of ViCA.Chat marks a significant shift in the landscape of compliance support services. This tool is designed to provide real-time assistance across various UK and EU regulatory frameworks, enhancing the efficiency and precision of compliance processes.
Complyport specialises in offering tailored compliance solutions to financial institutions, law firms, and regulatory bodies. By integrating advanced AI with expert human oversight, the company ensures that its clients receive the most accurate and actionable compliance advice.
ViCA.Chat distinguishes itself through its use of specially designed databases and AI training tools that are informed by Complyport’s extensive regulatory experience. This enables ViCA to function almost as an experienced compliance consultant, equipped with the latest and most relevant regulatory information.
Additionally, ViCA’s unique capabilities include advanced scraping tools that extract pertinent data from various online sources, providing users with a comprehensive and up-to-date understanding of compliance requirements. Its specialised regulatory database offers exclusive insights and proprietary interpretations that are not typically available through standard online resources.
ViCA is particularly beneficial for agile FinTech startups and established entities alike, adapting seamlessly to diverse compliance needs. Its intuitive interface makes navigating complex regulatory information straightforward, thereby optimising the compliance workflow.
Luis Parra, Managing Director of ViCA, emphasised the transformative impact of ViCA.Chat, “ViCA is a game-changer in how regulatory compliance advice will be provided in the future,” he said. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
ViCA also introduces a cost-effective model that reduces reliance on expensive consultations with external advisors, further underlining its value to businesses seeking to streamline compliance functions.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
