Expert.ai, a leader in implementing artificial intelligence enterprise solutions to create business value, and Protiviti, a leading global business consulting firm, have signed a strategic partnership to deliver advanced AI-based Regulatory Change Management solutions.
As the volume and complexity of industry regulations continue to grow, compliance professionals across banks, financial institutions, insurance companies, and other regulated sectors are under increasing pressure. The challenge of managing both external regulatory updates and internal compliance activities is intensifying, and the consequences of failing to keep pace, including sanctions from supervisory authorities, are more significant than ever.
To address this, expert.ai and Protiviti have launched a RegTech offering that combines expert.ai’s unique expertise and technological approach for automating regulatory monitoring and management of related changes with AI solutions designed for the highly dynamic regulatory environment of banks, financial intermediaries, and insurance companies with Protiviti’s deep experience in these sectors. This will help facilitate tailor-made solutions and support operators by allowing them to focus on more value-added compliance research activities.
Benefits of the solution include:
• Faster identification of relevant regulatory updates
• Reduced operational errors
• Enhanced impact and gap analysis
• Improved quality of regulatory reporting and decision making
“In today’s landscape of increasing regulatory complexity and the need for rapid response, technology is a critical enabler making compliance models more effective and efficient,” said Francesco Monini, Managing Director, Protiviti and Leader of the FSI Audit & Compliance Practice for Italy. “The partnership with expert.ai allows us to offer a high-value RegTech solution that combines AI innovation with our experience in compliance governance and business process transformation. The goal is for these important levers to make compliance more effective and sustainable by turning time and information overload into strategic value.”
Expert.ai’s RegTech solution for Regulatory Tracking & Change Management enables compliance experts to continuously and proactively monitor any regulatory landscape, offering transparency and governance thanks to 100% change tracking and explainability of compliance actions). The solution enables near real-time impact assessment while reducing operational costs and the risk of sanctions, making process adaptation and documentation changes more targeted and timelier, ultimately improving compliance ratings and audit scores.
“The current regulatory environment demands a fundamental shift in how compliance professionals manage ongoing change,” said Andrea Ricotti, SVP Regional Sales Leader, expert.ai. “Our vision is to support, through our unique hybrid AI approach, the safe adoption of AI in critical processes where efficiency and digital transformation are urgently needed. The number of regulations has grown significantly in recent years, while compliance teams have often faced resource constraints. Protiviti has long distinguished itself as a trusted advisor for innovative and agile strategies. By combining our distinctive strengths, we’ll help organizations strengthen compliance and reduce the risks of noncompliance and sanctions.”
