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Clausematch invites feedback on automated machine-readable regulatory system
LONDON and NEW YORK, Feb. 1, 2023 /PRNewswire/ — Clausematch, a technology company developing solutions for regulatory compliance, today announced it has released the digital knowledge graph in open source. Regulators and financial services companies now have access to test the graph and see how regulation in a structured digital format works. The AI developments carried out by Clausematch underlying the release of the knowledge graph fundamentally transform the approach to the very understanding of regulation and how it can be delivered.
Clausematch has been involved in a series of projects in this domain with financial services regulators since 2019. Thus, the FSRA of ADGM launched proofs-of-concepts in the digital regulation field where Clausematch was working on knowledge graphs and API-enabled rulebooks digitising ADGM’s crypto regulation. The joint team reimagined the regulatory framework by taking the content of regulatory requirements, automatically categorising them using advanced AI models, creating tags focused on regulatory concepts, obligations and expectation.
With the digital regulatory rulebooks, financial institutions will be able to gain a deeper contextual understanding of the current applicable legislation and apply requirements more effectively and efficiently. The knowledge graph will become a source of digitised rules available for the use of decision automation systems. With the help of AI models, the knowledge graph will extract the understanding of regulations and embed it in a structured, dynamic, machine-executable form. Eventually, this will enable more institutions and firms to foster greater governance practice and transparency in their daily operations being compliant by design.
Speaking on the collaboration, Evgeny Likhoded, CEO and Founder at Clausematch, said: “Regulators need to become active advocates of a new structured approach to regulatory texts….
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