Fidelity Investments Launches RegTech Business

Fidelity Investments Launches RegTech Business

Fidelity Investments® announced the launch of Saifr, a regulatory technology (RegTech) business that offers human augmentation tools to help financial institutions facilitate the creation, review, and approval of public communications to mitigate brand, reputational, and regulatory risk.

Utilizing a set of proprietary Natural Language Processing (NLP) models trained on tens of millions of compliance-reviewed data records, Saifr offers two solutions, SaifrReviewTM and SaifrScanTM, which foster greater collaboration between marketing and compliance teams to create compliant communications, faster. Saifr’s products offer a human-machine dynamic, enabling computers to do the monotonous tasks of compliance review, allowing marketers and compliance teams to focus on the creative and complex details of compliance review. Saifr is just one example of Fidelity leveraging its expertise to develop complex businesses, products, and tools in a highly regulated industry and bringing that expertise to market for the industry.

“Ensuring that marketing materials are compliant with various regulatory rules requires multiple touchpoints inside and outside an organization, including content creation, compliance feedback, revisions, e-mail, and workflow hand-offs. As a result, the process can be inefficient and create the opportunity for friction and risk,” said Vall Herard, Managing Director of Saifr, Fidelity Labs.

“Saifr’s AI solutions create a human-machine partnership that streamlines the compliance process from content creation through the regulatory filing process. By minimizing friction throughout this process, Saifr frees up time for content creators, marketers, copy editors, legal, and compliance specialists to focus on the value-added details.”

Saifr’s products are powered by multiple models that capture the subtleties of language to uncover potential risks, flagging non-compliant language and images in both written content and videos before the first round of review by compliance professionals. Saifr’s AI engine learns continuously through user-in-the-loop interaction, private and third-party public data, and regulatory updates. These models are displayed in both of Saifr’s products:

  • SaifrReviewTM: As Saifr’s primary platform, this intuitive workflow tool assists content creation, including written materials, social media, audio, and video assets. SaifrReview provides a robust dashboard that allows for in-line collaboration between marketing content creators and compliance professionals, as well as approval management, tracking, and assistance filing with regulators. As part of the workflow, SaifrReviewprovides immediate risk scoring and disclosure detection during document creation, as well as suggestions before final sign-off.
  • SaifrScanTM: This API-as-a-Service tool quickly analyzes and scores a firm’s communications and flags possible compliance risks in a detailed report. Using a set of REST APIs designed for integration into any existing document workflow, web-based front-end solution, or social media workflow, SaifrScan’s APIs support models for quickly analyzing textual, image, or video input for possible regulatory and corporate compliance violations.

“Saifr harnesses the massive amount of compliance data at its disposal and the power of deep learning models to augment the work of content creators and compliance professionals,” said Mona Vernon, Head of Fidelity Labs. “Saifr’s solutions streamline the compliance review process all in one platform to support efficient collaboration between marketing, legal, compliance and external consultants.”

Saifr began in Fidelity Labs, Fidelity Investments’ in-house software incubator. For more information, visit https://www.saifr.ai.

Source: Fidelity

Related articles

  1. OSCAR reduces the time to set up and negotiate an individual collateral basket from weeks to hours.

  2. Mizuho Americas won Best in Artificial Intelligence (AI) at the 2022 Markets Choice Awards.

  3. Arteria uses artificial intelligence and a data-first approach to make documentation processes frictionless.

  4. OPINION: Artificial, Yes. Intelligent? Maybe.

    The AI-powered corporate bond trading platform's tech is becoming more valuable as rates rise.

  5. The AI-powered investment management and asset servicing platform has closed a $40m funding round.