How GenAI helps meeting banks’ compliance obligations

In this Coffee Break learn how generative AI can help reduce the cost and complexity of meeting your bank’s policies. We explore the work we are doing with a large global bank in Europe to reduce the time required to perform risk assessments while discussing the potential role of agentic AI in this area. Existing regulations evolve, are amended, and equally importantly: New regulations make banks revisit, evolve, amend, add, and even fix controls. This is a very highly specialized, time demanding mission, which demands effort every time a new regulation arrives, and when the control framework becomes so complex that requires a revisit/refresh. Key Points: - Compliance is a critical and specialized function in financial services, requiring skilled professionals to monitor contracts and controls. - GenAI can assist if trained on financial regulations transparently, but frequent updates are needed to keep models relevant. - Open-source AI enhances transparency and trust, benefiting compliance tasks like contract and control framework reviews. - While GenAI improves efficiency, human expertise remains essential for interpretation and final validation.