Guernsey-based RuleWise, a specialist in regulatory technology (RegTech), is launching its AI-powered compliance platform in Jersey.
The platform offers financial institutions a groundbreaking, cost-effective alternative to traditional compliance methods, reducing dependence on large compliance teams while maintaining the highest standards of regulatory accuracy and adherence.
RuleWise is designed to streamline the compliance process, reducing the time and resources typically required to navigate complex regulatory frameworks. The platform’s AI-driven capabilities enable financial institutions to meet, and often exceed, the precision and thoroughness typically associated with dedicated compliance teams, at a fraction of the cost.
Mort Mirghavameddin (pictured), Chief Relations Officer of RuleWise, said: “For the first time, financial institutions can rely on an AI solution to handle the complexities of compliance management, enabling them to save time and money while maintaining the highest standards of accuracy. This launch marks a significant shift in how organisations approach regulatory compliance, addressing both current local regulations and those anticipated under MoneyVal in the future.”
The RuleWise platform features four core modules—Insight, Quest, Resilience, and Academy—each designed to maximise efficiency and minimise human intervention in compliance processes:
While RuleWise offers global capabilities, the platform includes a Jersey-specific package tailored to address the unique regulatory challenges under the Jersey Financial Services Commission (JFSC). This customisation makes RuleWise an indispensable tool for local firms seeking to maintain compliance without the excessive costs associated with traditional compliance methods.
To celebrate its launch, RuleWise will host a series of live demonstrations in Jersey during September 2024. These sessions will highlight the platform’s AI-driven modules, showcasing how RuleWise can reduce the compliance burden and offering financial institutions a clear view of the time and cost savings the platform delivers.
“We are thrilled to introduce this revolutionary technology to Jersey,” added Mort, “Our demonstrations will illustrate how RuleWise can replace an army of compliance officers with a single, efficient AI tool, allowing firms to focus on what they do best – growing their business.”
