IBM and Promontory: Looking for a needle in a haystack with Watson

Carrying out Know Your Customer (KYC) due diligence is a delicate balancing act. On one side you’re always looking to streamline your customer’s onboarding process with quick and painless client verification and due diligence. On the other, you need to observe ever-changing regulations, manage voluminous amounts of structured and unstructured data, and perform often repetitive […]

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Watson at Work at IBM Think: Meeting compliance through cognitive computing

Maintaining regulatory compliance is a daunting task. Up to 200 regulatory changes occur every day, varying from large scale regulation like Dodd Frank, to minute changes to the font and size of footnotes in regulation text. The cost of not being compliant is astronomical – since 2008, more than $50 billion in fines have been […]

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Kicking off Think 2018 with intelligent automation in banking

“Intelligent automation allows business and technology to function together for a common goal instead of against working against one another.” – Saket Sinha, IBM Vice President & Partner, Banking & Financial Markets To a maximum capacity audience and kicking off an exciting week of IBM Think 2018 in Las Vegas, IBM VP Saket Sinha led […]

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Fighting financial crime at IBM Think 2018

Regulatory pressure, in terms of policy changes and increased scrutiny, is forcing banks to seek technological changes and advancements to meet evolving regulatory and compliance requirements. This is resulting in financial institutions spending heavily on KYC, AML and surveillance solutions. IBM is committed to bring the newest and best advances in technology to tackle these […]

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Promontory Financial Group CEO on the future of RegTech

Gene Ludwig, the CEO and founder of Promontory Financial Group, recently sat down with Bloomberg Law in a wide-ranging interview to discuss his predictions for the future of RegTech, blockchain, and where he sees the markets going in the next three to five years. Promontory was acquired by IBM in 2016, and helps primarily financial […]

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Celebrating International Women’s Day with more than 100 years of IBM empowering women

“If the bringing of women – half the human race – into the center of historical inquiry poses a formidable challenge to historical scholarship, it also offers sustaining energy and a source of strength.” – Dr. Gerda Lerner On this International Women’s Day 2018 and to continue Women’s History Month, I would like to acknowledge […]

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The future of regulatory compliance converges at IBM RegTech Europe

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. While this has been mostly true for decades, regulatory technology, regtech, offers a new path forward for financial institutions who are seeking to manage their compliance requirements more efficiently and effectively. To achieve this, […]

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It’s getting expensive not to be compliant

Banks around the world are continuing to be penalized heavily for their inability to meet with ever-changing and complex financial regulations. Regulatory fines imposed in 2017 alone proved this to us in many ways. For example, financial intelligence regulator Austrac handed gaming giant Tabcorp a fine of AUD 45 M (USD 35 M) for non […]

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Re-think risk and compliance at IBM RegTech Europe

As we enter a new year, uncertainty in the risk and compliance landscape is as evident as ever. The amount of regulations and pace of change continues to be overwhelming. To proactively respond to this uncertainty, financial institutions assume that the only way for their organization’s to reduce risk and improve compliance is to spend […]

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Transacting in real-time: IBM launches new payment systems with Zelle

The speed of change occurring today in the American payments ecosystem is unprecedented. Think of all that has happened in the last 18 months: Earlier this year the Federal Reserve released the second part of its long-anticipated report from its Faster Payments Task Force. The report outlines a path to modernizing the U.S. payments network […]

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Welcome to the world of no-touch banking

The earliest forms of banking date back to 2000 BC, while in the United States, the first bank was established in 1791 in the city of Philadelphia. You could say that banks have had a lot of practice knowing what their customers want and how to provide it to them. Banks today are looking to banking […]

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