Federated learning is a machine learning technique that enables multiple entities to train a model together while keeping their data decentralized. In an era where AI models are taking shape, such a technology will be able to play a key role in the expansion of RegTech. In the view of Laurence Hamilton, CEO of Consilient, the...Read More
The discussion around artificial intelligence isn’t likely to conclude anytime soon, with many industries looking to the expanding technology to understand how they can benefit from it. In the area of economic crime, what role could AI play in bringing down burdensome costs? In the view of Joseph Ibitola, growth manager at Flagright, AI has already...Read More
FinTech Global recently spoke with Corlytics CEO John Bryne to find out more about the story of the company so far and what is to come for the Irish RegTech enterprise. Founded in 2013, Corlytics is a global RegTech consolidator, a leader in regulatory intelligence, content and automated policy compliance and attestation. The firm claims to deliver...Read More
With the challenges of financial crime increasing with an ever-growing digital presence for firms and threat actors alike, there is a growing desire in the industry for more real-time management of such threats. What are the challenges and opportunities for such technologies? According to Holly Sais Philippi, CEO of RegTech firm Alessa, real-time AML compliance is...Read More
A big challenge currently in the financial industry is the rise of authorised push payment fraud (APP). The Payment Systems Regulator (PSR) recently introduced new legislation on 7 October to combat this. How will this legislation impact fraud in authorised push payments? According to Taavi Tamkivi, CEO and co-founder of Estonian RegTech Salv, the new legislation...Read More
The vast and breakneck expansion of in-house AI solutions is leading to many companies scrambling to ensure such solutions are complaint and strongly secure. What role can RegTech play in this challenge? According to Joseph Ibitola, growth manager at Flagright, as AI becomes more entrenched in financial institutions – especially in-house AI solutions tailored to specific...Read More
As the age of digitalised regulation comes closer into the view, there is growing discussion around the role of machine-readable and executable regulation in the financial industry. According to Michael Thirer, legal director of Muinmos, the role of such a technology may very easily grow beyond what its users could have imagined. He said, “In Greg...Read More
The Artificial Intelligence Act officially came into force on 1 August 2024. The Act, one of the first of its kind, establishes a common regulatory and legal framework for AI within the European Union. How will it impact the financial sector? According to Susie Mackenzie, head of legal analysis at Corlytics, regulating AI represents a challenge...Read More
Whilst its existence in the industry has been known for countless years, the impact and use of AI in financial services has ramped up massively over the past three years. In the area of risk assessments, how has AI changed this process? According to Anna Shute, product manager at Qkvin, risk management is a crucial aspect...Read More
SMEs are often the lifeblood of an economy, and being able to protect against future challenges – whether physical or digital – are always top of mind. In this fight, what role does RegTech play in abating these fears? One of the biggest transformational shifts of recent years has been the wholesale shift to the...Read More
