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Regulatory

Posted October 28, 2019 by fatbrain

FatBrain AI recognized as a finalist for inaugural global Thomson Reuters’ RegTech pitch competition

Recognized as a leading start-up in the RegTech regulatory compliance space

October 21, 2019, New York, NY – FatBrain AI, a leading global RegTech vendor, is announcing being selected by Thomson Reuters as a finalist in its inaugural global RegTech competition. 

Thomson Reuters launched its inaugural global RegTech competition for start-ups in the legal, tax, and regulatory space. FatBrain has been selected as one of seven finalists vying to win the prestigious competition out of nearly 100 potential entries from 33 countries around the world.

FatBrain is being recognized for their automated Anti-Money Laundering (AML) compliance framework software platform using auditable and explainable AI. Leveraging machine learning and blockchain technologies, FatBrain reduces financial exposure and risks by identifying money laundering, terrorist financing and fraudulent activities inside banks, insurance companies and payment processors. FatBrain is driving real multi-year cost savings in the hundreds of millions of dollars through operational efficiencies and detection effectiveness for global banks. 

“Regulatory compliance is getting more complex. The number of bad actors is growing. Catching criminals is getting harder as they adjust their tactics at a faster pace than the detection models can evolve.  New thinking is needed to establish the necessary dynamic, adaptive to deal with this evolving threat, both within a financial institution and across the industry,” states Peter Ritz, Managing Director, FatBrain AI, “Being honored by Thomson Reuters further validates FatBrain’s role in simplifying complex regulatory compliance challenges. FatBrain simultaneously drives down the cost of regulatory compliance while enabling enterprises to identify new opportunities like holistic dynamic risk management, process consolidation and data management.”

FatBrain will make their case to be inaugural winner in front of a five person selection panel on October 29, 2019 in New York. 

About FatBrain AI 

FatBrain is disrupting the activities of financial criminals through AI automation solutions enabling risk executives, investigators and regulators to quickly and effectively identify evolving criminal activities and other external risks affecting their institutions.  Banks, insurance companies and payment processors deploying FatBrain AI to fight global financial crimes such as fraud, money laundering, and terrorist financing have strengthened their detection abilities at the same time adapting to the ever changing financial crime landscape.  Our customers are driving down the costs of regulatory compliance by saving hundreds of millions of dollars while realizing measurable impact in operational effectiveness across global operations.

Founded in 2014, FatBrain AI is headquartered in New York, with regional offices in London, UK and Mumbai, IN.  See the differences FatBrain enables at www.fatbrain.ai

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