BMO partners with JWG for AI-powered regtech

JWG announced a partnership with BMO Capital Markets where it will provide BMO access to its AI-powered, natural-language processing change management system RegDelta, which has reinvented the bank’s global postal system for managing regulatory change. JWG curates a holistic data set, enriches it via sophisticated data science, and provide SaaS technology to the enterprise via the system. Our clients retain efficient control of obligations, not drown in mountains of paper.

Since MiFID II was introduced in January of this year, JWG analysis has shown that regulators have issued more than 5.4 million sections of addressable text in 2018 alone. This is equivalent to more than a 200% increase in texts for MiFID II, which took three years to produce. Navigating the sheer volume of reg is no longer a job that humans can execute with confidence. JWG was created to give the industry control over the complexity of financial regulation in an era when traditional approaches to managing regulatory change are proving inefficient and creating more confusion and steep fines. Its RegTech solutions give firms the ability to manage regulatory change better, faster, cheaper and safer. RegDelta brings control, accountability and assurance to the huge task of managing regulatory change.

PJ Di Giammarino, CEO JWG said “JWG are harnessing the power of an artificial intelligence technique called natural language processing (NLP) to replace manual efforts to map regulators’ changing requirements to business models in an efficient and traceable manner. By implementing industry standards, we are now quickly integrating our proprietary intelligence in a way that our clients control. RegDelta is superior to black box solutions which do not allow for expert configuration to a firms’ control framework.”

Read the release

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