Explainable AI for highly regulated Industries

Continuous Compliance

Cognino driven connected intelligent services can connect to existing risk and compliance systems while it can leverage its natural language processing (NLP) and cognitive computing capabilities to proactively, and on an ongoing basis, scan through, evaluate and interpret huge volumes of unstructured regulatory content – that are scattered over hundreds of regulators’ websites and databases (e.g. Basel III, MiFID II, EU GDPR, FRTB, CRR/CRD IV, FATCA, CRS, PSD II, IRRBB, AMLD IV, PRIIPs , BCBS 239 etc. for finance or MHRA, ABPI, PMCPA for life science etc) . This then can create a knowledge base of Risk , Compliance and threat status through machine learning and early warning systems through predictive analytics. You don’t need a separate KYC solutions, the connected AI can enable a 360 view of the individual customer risk profile along with organisational risk issues.

Regulatory monitoring

Cognino Intelligent Core platform can help organisation automatically and identify, analyse, interpret and even implement to an extent the new/revised regulatory mandates.

  • Using Cogninio Intelligent Core, organisation can run their regulatory compliance assurance program, can ensure effective and ongoing compliance with multitude of relevant regulatory mandates
  • Our AI can run through structured and unstructured data sources, documents, emails, chats, telephone conversation etc. to evidence and verify compliance using deep learning techniques that can identify and flag
    • Identify and flag compliance data inconsistencies
    • Match and interpolate missing data
    • Monitor and ascertain compliance gaps
    • Generate comprehensive gaps analysis report
    • Provide rectification recommendation

KYC and Fraud prevention

Organisation can benefit from our AI solution in numerous KYC aspects, such as – identity & background pre-checks for remote KYC, customer onboarding, real-time transaction-based KYC anomaly detection, and KYC workflow automation. For real-time transaction-monitoring based KYC anomaly detection, our solution would conduct holistic transactions analysis by automatically deep-diving into the customer’s transaction, transaction history, behavioral profile and other unstructured data sources (such as emails, chats, negative news, social media etc.). Solution would leverage its NLP, ML, generative modeling and sophisticated analysis (e.g. Triple Exponential Smoothing) capabilities to unearth inconsistency. It would also automatically evolve the customers’ transaction profile and behavior archetypes as needed.

  • Customer data extraction from documents for KYC verification
  • Transfer of relevant data from documents into customer onboarding systems
  • Capturing of KYC screening results
  • Flagging of customer profiles for missing/mismatched/outdated KYC information
  • KYC profiles updates and data remediation
  • KYC reports generation

Other use cases

  • AML/fraud management: For AML, the context-sensitive, our AI solution would support advanced and adaptive real-time monitoring for high-risk entities – including against the SDN, OFAC and other sanctions lists, and/or related to unstable geographies. Using its ML, NLP, linguistic search, exploratory data analysis (EDA) and probabilistic/deterministic matching capabilities, solution would intelligently analyse, in real-time, customers’ transactions and other contextual data from various sources (such as web login activity, account profile data from CRM, public and proprietary AML databases, news sites, social media, monitoring reports, regulatory alerts, consortium data, financial records etc.). It would then leverage this information to screen for numerous money laundering risk signals, enable true identity-matching, identify complex money laundering typologies and patterns, and detect early warning signals.
  • Internal audit compliance: By leveraging our AI solution, organisation would be able to achieve significant improvements in the quality and effectiveness of their internal audits processes. For example, solution can help, move away from their traditional random and backward-sampling audit approaches to an automated, real-time and comprehensive audit framework
  • Tax & accounting compliance: Our AI solution can, for example, help a global organisation to automatically categorise the taxable income into appropriate country-specific tax buckets, detect tax computation errors, and propose beneficial tax strategies. Solution can enable dynamic dashboards for sophisticated scenario analysis, tax forecasting and reporting.
  • Compliance staff tools. Our AI solution can enable additional support tools for the  compliance management teams - such as: a) virtual assistants for queries resolution, b) dynamic dashboards and data visualisation tools (that use graph analytics, dynamic Bayesian network etc.), c) false-positives suppression tools (that use clustering, dimensionality reduction, topological data analysis etc.), d) case management tools (that automatically capture relevant case information and populate the results in templated investigation report), e) alerting and alert investigation tools -  (that make annotated data automatically available to the investigators; self-learns past investigation patterns to support, where feasible, automated future investigations; leverages deep learning to provide intelligent resolution recommendation for the new cases)

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