AI FinTech100 names top FinTech companies leveraging AI and ML options
FinTech Global announced this morning that AML Partners is an AIFinTech100 company. AML Partners’ RegTechONE™ platform helps financial institutions seamlessly integrate AI and machine-learning (ML) tools into existing GRC and AML software. And RegTechONE also makes possible Directed Intelligence data for in-house training of AI tools.
FinTech Global, a specialist research platform for all things FinTech, launched the latest edition of the AIFinTech100 list today. This ranking highlights the world’s more innovative companies who are developing AI and machine learning technologies. The purpose of these technologies is to solve challenges or improve efficiency in financial services.
AML Partners: RegTech for AI- and ML-supported anti-money laundering software and GRC solutions
AML Partners designs and develops cutting edge RegTech solutions for Governance, Risk, and Compliance. The RegTechONE platform is a powerful option for financial institutions looking to leverage AI and ML tools. This is because RegTechONE facilitates integration of AI and ML tools via API. Users create and edit their own workflows and integrate their preferred AI and ML tools–no coding required.
Directed Intelligence: In-house digital data to train AI with your own data and decisions
AML Partners’ most important innovation in AI/ML might be its Directed Intelligence data. Directed Intelligence on the RegTechONE platform describes the automatically preserved digital archive of pre-decisions and operations of a user institution.
With Directed Intelligence on RegTechONE, institutions digitally archive every decision made by their own Compliance and GRC experts. With comprehensive Directed Intelligence data, institutions can then train their AI tools to align precisely with their own program and decision-making. [To learn more about Directed Intelligence, check out this article.]
Additional areas of special expertise at AML Partners include AML Compliance software and integrations of AI and other tools on the RegTechONE platform. Other innovation RegTechONE options include Perpetual KYC, eKYC Golden Record technology, and Hub-and-Spoke Centralized Control. The RegTechONE platform also delivers Digital Transformation solution for the entire AML/KYC/GRC Ecosystem.
Also, our clients prize the API-driven RegTechONE platform for its no-code workflows, end-to-end Compliance options, and myriad API integrations. Another key with RegTechONE is that institutions create an ecosystem of permissioned data and a network of their applications. And RegTechONE provides rich Risk tools available for platform-wide use. With RegTechONE, users choose their tools, create their ideal workflows, and power their success via the platform’s Network of Applications and Ecosystem of Permissioned Data.
FinTech Global: Leaps in AI and ML in FinTech and RegTech drive innovation and growth
According to FinTech Global, the launch of ChatGPT in November 2022 made AI a dominant topic in the financial sector and beyond. Financial institutions are now exploring how they can incorporate AI and ML tools to transform their operations.
FinTechGlobal in its AIFinTech100 press release cites a recent survey from The Economist found that 85 percent of banks have a clear strategy for adopting AI in the development of new products and services. One of the biggest draws to the technology lies in cost savings. A report from Insider Intelligence claimed North American banks have a combined potential cost saving of $447bn for 2023.
The huge market opportunity for AI has created a hotbed of tech providers building AI or data solutions. These solutions will help solve challenges in areas such as banking, insurance, customer experience, investment & trading, and compliance.
AIFinTech100: “Leading the charge on innovation”
The selection process for this year’s AIFinTech100 list was exceptionally competitive, according to FinTech Global. A panel of industry experts and analysts chose finalists based on research produced by FinTech Global on over 2,000 FinTech companies.
FinTech Global director Richard Sachar said, “Generative AI tools like ChatGPT have shown how advanced AI technology has become. Financial institutions will need to explore how they can leverage the latest AI and data analytics technology, or they risk being left behind by competition. The new AIFinTech100 list gives senior decision-makers the knowledge of the best vendors in the market and those leading the charge on innovation.”
A full list of the AIFinTech100 and detailed information about each company is available to download for free at www.AIFinTech100.com.
