Belfast-based data solutions provider Automated Intelligence (AI) has launched a new RegTech platform specifically for managing regulatory risk within unstructured data in the financial industry.
AI has been providing data management solutions to worldwide organisations in industries such as government, media, retail and health for the past 10 years.
Its new sister brand, hivera, enables clients to assign a tailored regulatory risk score based on the financial services firm’s risk appetite to that data and automate the identification and remediation of threats to help mitigate associated risks.
Financial services organisations (FSOs) are operating in an increasingly regulated environment, and risk and compliance teams within FSOs can now, for the first time ever, visualise and mitigate the regulatory risk in their entire unstructured data estate.
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It’s estimated unstructured information could be as much as 80% of an organisation’s data and until now, there have been many challenges associated with discovering, analysing and managing it.
With hivera's "user-friendly reporting modules, FSOs can quickly and easily provide compliance updates within the organisation or to regulators," stated AI.
The hivera platform also offers huge resource, time and cost savings through automation.
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This is achieved through polices which enables ongoing data compliance and remediation, such as performing deletions or archiving according to organisational retention schedules.
“hivera is transforming how financial services firms view unstructured data,” said Simon Cole, CEO at Automated Intelligence.
“By providing greater visibility and control over their unstructured data estate, we’re improving data analysis, data privacy, data protection and the risk mitigation capabilities of our clients.”
To find out more visit hivera.ai.
Source: Written from press release
