Building RegulationAI: Solving Compliance in the Age of Artificial Intelligence | Ascent

At Ascent, we use cutting-edge AI technologies to de-complicate financial regulation, making it easier for companies everywhere to comply.

We’ve built our company around tackling one of the most intractable challenges in regulatory compliance: regulatory change management. To take this on, we’ve created revolutionary automation technology that represents a radical leap forward for how companies can track regulatory updates, reconcile changes, and identify obligations.

The challenges of regulatory change management are complex — and they require a comprehensive solution.

Other regulatory change management tools have tried to tackle these challenges by taking a top-down approach to automation. Acting much like a search engine, their software skims through regulatory documents in search of key phrases or specified search terms that might be related to a company’s business requirements.

But the complexity of both regulatory documents and a company’s compliance needs overwhelms the capabilities of these search-based solutions. Too often, these tools create more work instead of less by generating a massive list of search results that may only have a tangential relationship to business needs. Ultimately, this means compliance personnel must still put in a substantial amount of manual work to sift through the results and determine what information is actually relevant.

At Ascent, we’ve approached the problem from a different angle. 

Meet RegulationAI™, the world’s first bottom-up compliance automation technology.

RegulationAI™ — the digital brain that powers Ascent’s entire platform — is a true innovation in regulatory technology. Much as an investment portfolio manager might take a bottom-up approach to analyzing individual stocks — researching a company at a granular level to gain a comprehensive understanding of its worth — our bottom-up automation technology decomposes regulatory text to a word-by-word level. Our platform is then able to extract obligations from within those regulatory texts and rapidly determine whether those obligations apply to a business. 

Because RegulationAI™ completes this process from the bottom up, the obligations extracted are rich with metadata — key information retained from the regulatory source document, like regulator, published date, etc., — powerfully expanding what our customers can do on our platform. When reviewing obligations, customers are able to easily click through to an obligation’s source document, see a side-by-side comparison of rule changes, and even create and assign tasks directly from an obligation.

Because we decompose regulatory texts down to a sentence-by-sentence level, it makes it possible to create links between documents, rule sets, and obligations, which in turn allows us to dynamically update a company’s obligations so that teams can easily keep up with the fast pace of regulatory change.

RegulationAI filters out the regulatory white noise

How RegulationAI™ works

We use two primary forms of technology to power our digital brain:

Together, these technologies allow us to decompose regulatory texts down to a line-by-line level. 

As a first step, NLP technologies take the dense texts of regulatory documents and, in essence, “translates” them into machine-readable language. Trained ML models then “read” that text, extracting the rules and regulations from within. Then ML models determine whether those obligations apply to a customer’s business based on what type of financial institution it is, where it operates, what products/services it offers, and a number of other attributes. The result is a dynamic and unique list of obligations specific to that customer

Creating Automation We Can Trust

Our customers cannot afford to miss even a single obligation, so neither can our AI. In order to be able to clear this crucial bar, we use a number of controls during our automation process — including a knowledge risk framework, probabilistic predictions, and, during the most critical steps, human domain expert review. 

Each of these controls acts like a lever we can adjust to calibrate the right mix of accuracy and efficiency. Compared to manual efforts alone, which only have one lever to pull — manpower — this method allows us to create a significantly less risky result for our customers at a fraction of the cost and time.

REQUEST A DEMO: Click here to request a demo and see Ascent in action.

 

That’s the power of automation.

Great technology augments your team. With Ascent, Risk and Compliance teams can focus on the high-value activities that matter most — like creating and implementing controls, working across the lines of business, and developing a scalable compliance strategy — without the constant worry of accidentally missing an important update or keeping records that will stand up to regulator scrutiny.

With the digital brain of RegulationAI™ at its core, Ascent provides regulatory knowledge tailored to your company, all within a flexible yet powerful platform that lets you manage your obligations from start to finish.

 

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Modern challenges require modern tools. Interested in seeing how Ascent can help you automate horizon scanning, change management, and obligations management? 

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