IBM and Thomson Reuters are launching a new AI-powered regtech solution to help banks better navigate increasing regulatory requirements:
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers.IBM and Thomson Reuters have teamed up to launch a new AI-powered regtech solution to help banks better navigate growing regulatory requirements, per aThe solution will be delivered from the IBM Cloud that features real-time financial services data from thousands of content sources.
The need for regtech solutions will only increase in the future. Financial Institutions will face 300 million new regulations by 2020, per the release. Complying with all of those regulations is time consuming, especially as FIs still often rely on manual processes, forcing compliance staff to read through lengthy regulatory information.
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