Skip to content

Davey Winder

delivering award-winning technology journalism since 1991

  • home
  • about me
  • follow me on mastodon
  • privacy policy
  • Toggle search form
image of human head profiiles overlaid with circuit boards

How AI is driving the future of regulatory compliance in the financial sector

Posted on April 23, 2017April 23, 2017 By Davey Winder

Ground-breaking AI technology is helping banks to tackle complex compliance and regulatory issues, manage risk and also to bust fraud

Nobody in the financial services sector would argue that the impact of increasing regulation and increasingly large fines for regulatory failures has built steadily over the last decade. Nor, for that matter, that risk and compliance is now one of the largest areas of spending within the industry. It hasn’t been exactly uncommon for banks to have increased their budgets over this period by 15 to 25 per cent a year in this area alone. “It is now reaching saturation point,” argues Jeremy Doyle, associate partner with Watson Financial Services at IBM UK. “Continued spend is becoming untenable and there is increased urgency to find ways of reducing cost, while remaining compliant, protected and in a position to drive growth.”

Luckily, during this same period, the maturity of technology in cloud computing, machine-learning and artificial intelligence (AI) has accelerated dramatically while the entry cost declines. So are AI and machine-learning now driving the next generation of regtech solutions to reduce fraud in the financial services sector?

Click here to read complete article

Analysis Tags:AI, Banking, compliance, finance, fraud

Post navigation

Previous Post: Is this the most secure portable hard drive ever made?
Next Post: What businesses can learn from the Yahoo! data breach

Related Articles

Forget Passwords, This New Tech Is Nearly Hacker-Proof, 1Password Says Analysis
Gmail Hackers Leave Vital Clues Behind—Check These 3 Things Now Analysis
No, 1Password Has Not Just Been Hacked—Your Passwords Are Safe Analysis
New Critical Security Warning For iPhone, iPad, Watch, Mac—Attacks Underway Analysis
New Emergency Chrome Security Update After Critical iOS 16.6.1 Release Analysis
New iPhone iOS 16 Bluetooth Hack Attack—How To Stop It Analysis

Categories

Post Archive

Tags

0day Analysis Android Apple Apps breach bug bounty Business Chrome crime Cybercrime Data Protection Encryption Enterprise Google Government Hackers Hacking Health healthcare industry iOS IoT iPhone Malware Microsoft News NHS Opinion passwords Phishing Privacy ransomware Research Russia Samsung threat intelligence Twitter Update Vulnerabilites vulnerabilities Vulnerability Windows Windows 10 zero-day

Copyright © 2025 Davey Winder .

×
Cookies
We serve cookies. If you think that's ok, just click "Accept all". You can also choose what kind of cookies you want by clicking "Settings". Read our cookie policy
Settings Refuse all Accept all
Cookies
Choose what kind of cookies to accept. Your choice will be saved for one year. Read our cookie policy
  • Necessary
    These cookies are not optional. They are needed for the website to function.
  • Statistics
    In order for us to improve the website's functionality and structure, based on how the website is used.
  • Experience
    In order for our website to perform as well as possible during your visit. If you refuse these cookies, some functionality will disappear from the website.
  • Marketing
    By sharing your interests and behavior as you visit our site, you increase the chance of seeing personalized content and offers.
Save Refuse all Accept all
GDPR Cookie Policy