Future of Risk management

Sourced from Htxt.Africa FNB has been harnessing artificial intelligence (AI) to reimagine risk management and forensic due diligence processes. The result is the ability to review profiles for various financial crimes holistically, more rapidly, and more consistently, and free up the time of analysts to perform the functions that they remain better suited to than AI. FNB claims that this doesn’t mean that they need fewer analysts, but rather that their focus is now being used to conduct quality assurance of reviews, and to constantly feedback data into the evolution of the AI. On average, the use of AI frees up 70% of analysts’ time and generating a forensic synopsis ready for a human analyst to review that previously took hours can now be completed in as little as 8 seconds. AI is growin...