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
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
The global RegTech sector is projected to reach a value of $66.9bn by 2032, growing at a 22.6% CAGR from 2023, according to a report from Allied Market Research. Given its size, it is evident that the market is full of various types of RegTech solutions all claiming to revolutionise the output of compliance teams....Read More
The role of artificial intelligence is continuing to evolve within the FinTech sector. As firms get to grips with the technology’s potential, many stakeholders are attempting to figure out what comes next. One particular area that is ripe for disruption is customer onboarding. A practice that can at times be slow, arduous and burdensome, the...Read More
FinTech Global recently spoke to RegTech firm Alessa to take a deeper dive into the regulatory landscape of 2024 and the strategic insights that financial firms can take away from it. Ontario-headquartered Alessa provides e a complete compliance program on one integrated, modular platform to help compliance teams meet, or exceed, regulatory requirements and stop financial crime...Read More
One of the most pressing issues with the financial industry right now is document fraud. How can RegTech’s tackle this challenge and provide more support? In the view of Joe Lemonnier, product marketing manager at Resistant AI, The financial industry stands at a critical juncture, facing a surge in document fraud driven by rapid technological advancements, one closely tied...Read More
As we approach the end of the second month of 2024, the direction of regulatory developments is beginning to take shape. What can we expect to see in the first half of 2024? In the view of Stacey English, director of regulatory intelligence at Theta Lake, despite the relative youth of the year the sector has...Read More
