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How Quinnox’s AI Solution Streamlined Regulatory Compliance for a Leading Global Bank

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Overview

The client is a leading UK-based global bank operating across Retail and Commercial Banking, with a presence across multiple continents. The banking industry is governed by various regulatory agencies, depending on the jurisdiction. Their existing process involved manually reviewing regulatory changes and analyzing their impact on business processes and systems. 

Business Need

  • The client sought to automate regulatory compliance processes using Classical AI and Gen AI to enhance accuracy, efficiency, and adaptability in a dynamic regulatory environment. 

The Quinnox Solution

  • The solution was developed on the AWS platform, incorporating feeds from regulatory data aggregators and data crawling from various regulatory websites. 
  • AI was employed to automate ingestion, metadata tagging, triaging, summarization, correlation, and impact assessment of new regulations. 
  • RAG architecture was used to ingest regulatory documents and swiftly parse them, extracting and presenting only the critical aspects. This streamlined approach enabled quick comprehension and action, eliminating the need for hours of manual review. 
  • The solution allowed bankers to expedite regulatory compliance and leverage a system-generated impact assessment. 

Tech Used: Langchain, Python, AWS Bedrock services, AWS Sagemaker  

Business Benefits Delivered

1. Increased Efficiency: Reduced time spent reviewing regulatory documents. 
2. Enhanced Accuracy: Minimized human error in interpreting regulations. 
3. Regulatory Agility: Ensured swift adaptation to new regulations, maintaining compliance. 

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