Belfast ‘regtech’ (regulatory technology) provider Automated Intelligence has developed AI.DATALIFT, its cloud-based regtech platform specifically designed to provide highly regulated financial services businesses with data insight, risk identification and compliance reporting.
It does so by automating the data governance that is required by a firm’s first line of defence. It then flags and quantifies actionable key risks indicators for its second line of defence and provides a full audit trail of compliance.
A spokesperson for Automated Intelligence commented: “Under increasing regulatory scrutiny, the need for technology solutions that can handle the rising volumes of data and enable cyber security, compliance and risk management is becoming more apparent in the banking and insurance industry across Europe.”
The firm has appointed Mark Dowds as chairman of the board as the company plans to focus its offering towards the financial services sector.
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Dowds - a serial investor and entrepreneur - has 20 years of extensive financial services experience.
He co-founded Trov, the world’s first on-demand insurance platform in 2012 and is currently managing director at venture firm Anthemis.
Previously he co-founded BandofCoders and ServiceCloud, which was acquired by US software firm Salesforce.
Through his Canadian and Irish-based incubators, Dowds has helped dozens of tech businesses scale rapidly and sustainably.
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Simon Cole, CEO at Automated Intelligence said the team was “excited” to welcome him.
He added: “We have set ourselves some pretty ambitious targets for the next phase of growth, Mark will be invaluable in helping us realise our goals, creating more jobs at our Belfast office in the process.”
Fintech Opportunity
Dowds said: “Financial services is crying out for a solution like Automated Intelligence.
“The siloed, incompatible nature of many of the current technologies being used is a major challenge for the banking and insurance industry. Automated Intelligence overcomes that and sits perfectly alongside existing technologies.
“There is a real opportunity for this company to dominate the market and I’m delighted to joining Simon and the team in making that happen.”
Automated Intelligence is a Microsoft Double Gold partner and has been providing compliance solutions since 2010.
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Source: Written from press release
