The unprecedented scale and pace of regulatory change has compelled financial institutions to re-think how they deal with new regulations across multiple jurisdictions and timetables.
Throwing light on the current situation, Ben Richmond, Founder and CEO of CUBE states that most financial institutions fail to understand the full extent of their regulatory requirements and consequently don’t have the essential policies and controls in place that ensure adherence to their global regulatory framework.
Given the complexity of this challenge, financial institutions require automation that can assist them in understanding as well as implementing regulatory obligations. As the leader in global regulatory intelligence and change solutions, CUBE enables financial institutions to gain real time insights on global regulatory change, understand the impact of changes to policies and controls, remediate gaps and automate critical compliance processes to implement those changes right through to the line of business, “we take a holistic view of regulatory change dealing with every possible regulatory issue impacting a global financial institution—scale is paramount!”
With a focus on machine automation within the regulatory compliance landscape, CUBE offers an AI platform based on big data, “AI is a significant enabler of how the world of regulatory compliance can be transformed for all financial institutions. The perfect use case for AI is enabling automation in regulatory compliance given the vast amounts of data we have to learn from,” says Richmond.View more news