archerhas been acquired by , a provider of risk management solutions. compliance.aiis a supplier of regulatory change management solutions powered by artificial intelligence (AI).
The acquisition will enable Archer’s customers to leverage AI technology to automate monitoring, tracking and reporting and respond to evolving regulations in real time, the companies announced on Tuesday (February 20). press release.
This acquisition will enable Archer’s clients to achieve real-time updates, predictive analytics, and improved accuracy for regulatory compliance and risk management. Bill DiazArcher’s CEO said in a release.
“Harnessing the power of AI technology advances our strategy of enabling organizations to more effectively manage their entire risk landscape and enables us to propel Archer solutions into a new era of efficiency and foresight. ” said Diaz.
The integration of Compliance.ai’s AI-powered technology with Archer’s risk and compliance management solutions will benefit compliance, risk, and legal teams around the world. Kayvan AlihaniCompliance.ai co-founder and chief strategy officer said in a release.
“Working with Archer puts us in a leading position in turning compliance into a competitive advantage for highly regulated organizations,” Alikhani said.
Compliance.ai’s approach to using machine learning and AI to monitor regulatory updates streamlines the compliance lifecycle by automatically mapping regulatory changes to internal policies, procedures, and controls, according to the release. Strengthen.
These capabilities complement Archer’s focus on unifying risk and compliance management within a single platform and driving efficiency, accountability, collaboration and visibility across risk and compliance teams. stated in the release.
With more than 20 years of experience in risk management, Archer helps organizations manage risk, ensure compliance, and address emerging challenges such as environmental, social, and governance (ESG) and operational resiliency, according to the release. We are dedicated to helping you cope.
Organizations are increasingly integrating a number of modern tools designed to support critical regulations and compliances such as know-your-customer (KYC) and anti-money laundering. compliance solutionPYMNTS reported in May 2023.
Another recent development in this space is financial crime provider Salv. compliance solutionannounced in December 2023 that it had raised €3.9 million ($4.29 million) in new funding to accelerate its expansion in the UK.
Salv Bridge, the company’s cloud-based solution, will enable financial institutions to exchange data on bad actors, collaborate and handle investigations more efficiently, Salv said at the time.
