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MIND FOUNDRY AI HAS BEEN USED TO

Tackle the volume of transaction compliance reviews

Improving compliance and creating operational efficiencies.

Retail Banking

 

A large number of required tasks in enterprise today are relatively simple box ticking exercises which can be completed quite easily with process automation tools. But keeping your solutions up to date can be a daunting task of “if this then that” logic.

 

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Problem 

A large financial institution had rigorous duties to fulfil in ensuring transactions it oversaw were compliant with strict legal regulations. A complex system of robotic process automation (RPA) rules, combined with a team of human validators was achieving satisfactory performance in the task but at high cost and latency, while requiring large amounts of time and expertise to update and validate the process when regulations changed. The business wanted to explore more intelligent ways of automating the process such that it could be kept up to date with ease.

 

Solution

The client had a large number of labelled example records on which to conduct analysis and tests. Mind Foundry’s suite of data analysis and preparation tools were used to process signals of a variety of types, and produce a robust set of predictive instruments that could reliably predict the required class, while also accounting for regulatory requirements. The number of automated closes (not requiring a human input) was significantly increased, lightening the workload of the human team, and subsequently improving their accuracy due to reduced time pressure and volume of requests. Mind Foundry’s in-built testing, simulation and profiling framework allowed rapid testing of retrained models such that systems could be updated and deployed as soon as possible when new best practices and requirements were defined.

Results

Compliance

 

26

Companies

stone warf

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26

Companies

stone warf

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