Capco deepens regulatory offerings with Aptus.AI partnership

16 May 2024 Consultancy.eu 2 min. read

Global consulting firm Capco has inked a partnership with Aptus.AI, an Italian start-up specialised in artificial intelligence within the regulatory domain.

Andrea Lo Solfo, partner at Capco, said that the alliance will deepen the firm’s regulatory offerings to its clients in the financial services sector, mainly banks, asset managers, and fintechs.

“Keeping pace with regulation is a constant challenge. The AI technology from Aptus.AI helps financial institutions analyze vast amounts of data and regulatory documents quickly, enabling them to stay compliant and adapt to regulatory changes more efficiently.”

Capco deepens regulatory offerings with Aptus.AI partnership

The backdrop is clear: financial institutions face a multitude of legal, operational and technological challenges. Reviewing, understanding and compiling new laws on a daily basis requires significant time and resources, and also presents a high risk of manual error potentially resulting in financial reputational damage and penalties.

With the help of AI and Gen AI, many steps can be automated, including analysis upfront, implementation into processes, and quality control down the line.

Aptus.AI’s technology detects regulatory changes in real time and transforms documents into machine readable versions, turning the complex regulations landscape into something more understandable. With this information, financial institutions can streamline regulatory compliance processes end-to-end.

“By combining Gen AI with our deep sector expertise, we augment our clients’ ability to develop robust compliance management frameworks and customized policies and procedures across areas such as staff education, monitoring, the remediation of violations and/or compliance shortcomings, and report generation, Lo Solfo said.

The partnership is overseen by Capco’s Italian team, which launched in June 2023, but will be rolled-out across Capco offices. Capco has hubs all round the world (and is part of giant Wipro).

“By working with Capco we can improve the operational efficiency of financial institutions and companies operating in highly regulated industries by reducing compliance costs and implementation time, while our service helps them adopt a proactive approach to risk management and focus regulatory expertise on higher value-added activities,” stated Andrea Tesei, CEO and Co-founder of Aptus.AI.