About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

IBM Partners with Thomson Reuters on New AI/Data Combination to Simplify Regulatory Compliance

Subscribe to our newsletter

IBM (through Watson Financial Services) and Thomson Reuters Regulatory Intelligence on Wednesday announced a joint collaboration to help banks address ever-growing regulatory requirements through a new combination of AI and real-time regulatory insights.

Financial institutions are faced with hundreds of regulatory alerts daily, with an estimated 300 million new regulations on the way by 2020. It is a manual, time-consuming process for risk and compliance professionals to read through information and prioritize alerts based on applicability and impact, forcing banks to utilize disparate data and AI systems to meet requirements. The new real-time regulatory solution aims to assist banks to digitize their manual governance, risk, and compliance processes, and help them to integrate all their risk data – using global coverage of more than 900 regulatory bodies and 2,500 collections of regulatory and legislative materials.

The partnership will offer financial institutions access to a RegTech solution delivered from the IBM Cloud and featuring real-time financial services data from thousands of content sources. The venture is driven by AI and underpinned by domain knowledge from IBM’s Promontory Financial Group, a global consulting firm specialising in regulatory issues, compliance and risk management. In addition to integrating Thomson Reuters Regulatory Intelligence, IBM OpenPages with Watson incorporates information from Promontory Financial Group to help users of OpenPages create libraries of relevant regulatory requirements, map them to their internal framework and evaluate their impact to the business.

“Combining worldwide regulatory-specific content, AI and advanced analytics, IBM OpenPages with Watson provides visibility into pending regulatory changes to take the guesswork out for compliance professionals. It also helps project exactly what business impact those changes will likely have on the organization,” says Alistair Rennie, General Manager of Watson Financial Services, IBM.

IBM and Thomson Reuters have been collaborating on AI and data intelligence since 2015, including the creation of industry-specific solutions in healthcare and data privacy. The latest financial services offering is available worldwide to IBM OpenPages 8.0 customers from May 1, 2019.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to apply innovative e-comms surveillance whilst ensuring control, compliance and enhanced productivity

Remember the days when email was the predominant media for electronic communications within and among financial institutions? Fast forward to today, and email represents a declining fraction of these e-comms, many of which are hosted by modern collaborative platforms such as Microsoft Teams, Webex, Slack, and Zoom, and all of which are subject to surveillance....

BLOG

Sustainable Trading Adds Seven New Firms to its Membership Network

Sustainable Trading, the non-profit organisation aiming to transform environmental, social and governance (ESG) practices in the financial markets trading sector, has added seven new firms from across the trading industry to its membership network. Joining the 41 firms already participating in the industry initiative are Barclays, Liquidnet, Mizuho International, Rand Merchant Bank, Schroders, State Street...

EVENT

TradingTech Briefing New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.

GUIDE

Enterprise Data Management

The current financial crisis has highlighted that financial institutions do not have a sufficient handle on their data and has prompted many of these institutions to re-evaluate their approaches to data management. Moreover, the increased regulatory scrutiny of the financial services community during the past year has meant that data management has become a key...