Tag: Saifr

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?

Every 48 hours, the digital world produces an astounding five quintillion bytes of data, according to McKinsey & Company.

Money laundering remains a major global issue, affecting financial stability and security across the world.

The challenge of financial crime and its wider societal effects are immense. Estimates suggest that money laundering accounts for 2-5% of the global GDP.

In the financial services world, the role of risk and compliance teams is crucial. Tasked with balancing marketing creativity and regulatory necessity, these teams are often seen as the final checkpoint before marketing materials can reach the market.

Time-tested, established methods form the backbone of effective compliance programmes, according to AI RegTech Saifr.

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.

In today's dynamic financial landscape, the utilisation of Artificial Intelligence (AI) has become paramount for financial services firms striving to maintain competitiveness and drive innovation. Leading RegTech firm Saifr spoke to FinTech Global to delve into the top ways these company are utilising the technology today.

Saifr has announced its strategic acquisition of GOST, an artificial intelligence (AI) platform from Giant Oak.

As we approach the end of the second month of 2024, the direction of regulatory developments is beginning to take shape. What can we...