Explore How Digital Compliance Will Soon Become the Mainstream

In the last few years, we have seen the acceleration of RegTech or Regulatory Technology. RegTech is the use of emerging technology to improve the effectiveness and efficiency of compliance management systems. We have witnessed technologies such as robotic process automation (RPA),  artificial intelligence and machine learning (AI/ML), and blockchain be incorporated into the compliance workflow to reduce the burden and cost of compliance. AI/ML has been used for  solutions and software applications to assist with making better predictions for routine tasks in areas such as fraud prevention and market surveillance. Yet, the use of AI/ML to make decisions is still relatively nascent, but that is about to change.  


Digital Compliance Will Become the Mainstream
RegTech, or regulatory technology, applies innovative technology to enhance compliance management systems and has accelerated in recent years. We have seen how technologies like blockchain, machine learning, artificial intelligence (AI/ML), and robotic process automation (RPA) have been implemented into the compliance process to lessen the stress and expense of compliance. With the help of software compliance tools, AI/ML has helped with everyday chores like fraud detection and market surveillance by helping to make better forecasts. 



One of the main reasons digital compliance management systems will become mainstream is that financial service businesses have improved their data readiness over the past several years and have reached a more mature condition due to becoming familiar with AI/ML software applications. Its internal risk and modeling capacities have grown, and its governance procedures have been reinforced. In other words, more businesses are ready to move through with system-wide installations.


Adopt Predict360 for AI Based Compliance Management System
Predict360 is a robust compliance management platform that employs AI-based technology to assist enterprises in effectively managing their regulatory compliance requirements. Incorporate Predict360 into your business strategy for the following reasons:




Complete compliance coverage: Predict360 offers an in-depth range of legal obligations, including data protection, anti-money laundering (AML), anti-bribery and corruption (ABC), and more. As a result, businesses can easily manage all their compliance requirements using a single platform.

Artificial Intelligence-based risk control: Predict360 compliance management system leverages machine learning and artificial intelligence to track real-time compliance activities. This makes it possible for businesses to identify potential troubles before they become serious issues and to take appropriate action.

 


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