In this world, nothing is certain except death, taxes, and regulations. The global financial industry has been fined USD 345B in penalties since 2009, while they are spending USD 270B annually on risk and compliance-related activities – What gives? Global financial firms must deal with 900+ regulators, 300+ million pages of rules, many standards, and a regulatory change every 7 minutes. It does not get any better for a national bank or a regional bank operating in the US; they deal with a complex and dynamic regulatory landscape. Enterprises also deal with a myriad of internal changes and factors such as organization structure, the introduction of new products or services, and pending enforcement actions. Throwing more humans at this problem and creating solutions to optimize the workflow between the humans has not worked, as evident by the ballooning cost of compliance and the increasing penalties due to non-compliance. In 2020, the 4CRisk.ai team battle-hardened by 100+years of collective GRC experience and a passion for solving the “unstructured data” problem trained neural networks and used advance AI techniques to encapsulate the intent of regulations into mathematical structures called vectors. These vectors are now being used to emulate human intelligence and augment the human effort at scale to perform activities like regulatory research, automate impact assessments, and mitigate the design weakness of your compliance and risk documentation. We are a data-intelligence platform company on a mission to reduce your cost of compliance and decrease the risk of non-compliance. Our AI-powered solutions augment your human-capital to identify, mitigate, and convert risks into opportunities.
External link for 4CRisk.ai
San Francisco, Bay Area, California 94065, US
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#Forbes article on how #AI is breaking bottlenecks in #GRC Programs - an insightful article by #4crisk.ai CEO and Co-Founder Venky Yerrapotu https://lnkd.in/eDnrdEwX
#risk event in NYC Dec 2-3 is 1 month away! Learn from our panel of experts about How #AI is transforming #Legal, #Risk and #Compliance Programs! visit us at Booth 22! Register here https://lnkd.in/ezfW86-7
Read how Regtechs can improve Security on in-house AI - good article on #FintechGlobal quoting Venky Yerrapotu CEO and CO-founder, #4CRIsk.ai
Good advice on how #Regtechs can improve the #security of in-house #AI - #4crisk.ai CEO and Co-Founder Venky Yerrapotu quoted: "Meanwhile, #4CRisk.ai stated that financial firms should look to integrate with best-of-the-breed foundational small language models that are purposefully built to solve regulatory, risk, and compliance problems and with trustworthy AI principles. “These models must be private to the financial firm, have zero data bias, be trained ethically, and more effective than general-purpose language models,” the firm concluded. https://lnkd.in/e4FPFy3x
Good article from #Fintechglobal on how #4crisk #regulatoryresearch product uses #AI to create rulebooks in minutes! Use #4CRisk to get results #50XFaster ! https://lnkd.in/d-s4SVjA
Interested in using #AI for #NISTCSF #Compliance? Good Article from #FinttechGlobal citing #4CRisk's #Compliance Map for accurate results #50xFaster https://lnkd.in/eGwRp8P3
Great advice and useful tips!
FinTech Global news you can't afford to miss from yesterday 👉 New Napier AI report highlights $3.13trn potential savings with AI in AML compliance 👉 How AI is transforming compliance programs in the regulatory landscape 👉 The hidden costs of building in-house AML screening tools 👉 Navigating regulatory changes with pKYC for enhanced due diligence 👉 Nigerian FinTech Moniepoint Group secures $110m in Series C funding Mariya Pattara Greg Watson Salv Jacob Story Lucy Heavens 4CRisk.ai Yo McDonald Moody's Tinuke Bernard
Great article on the #ROI of #AI-powered #regulatoryresearch to generate #rulebooks #20xfaster than a human can using traditional methods
AI is proving to be a game changer in the field of regulatory research, particularly in the way compliance programmes are structured and managed. According to 4CRisk.ai, with tools like 4CRisk’s Regulatory Research Product, organisations can significantly enhance their compliance efficiency and achieve a return on investment (ROI) in less than a year. Read more here: https://lnkd.in/d9wUv45A Yo McDonald
Good article on #Fintechglobal covering the #ROI of #compliance mapping with #4crisk's #aipowered #compliancemap product https://lnkd.in/eitdG42p