NEW YORK and TORONTO and LONDON, Nov. 29, 2017 /PRNewswire/ — Exiger, the global regulatory, financial crime, risk and compliance company, has been named RegTech Company of the Year at the Canadian FinTech and AI Awards for its AI-based regulatory technology — DDIQ. The judges recognized DDIQ as one of the most innovative and impactful technologies for transforming how financial institutions comply with financial crime regulations, worldwide.
DDIQ is a compliance technology that accelerates and enhances the ability to assess risk regarding individuals and corporations related to investments, transactions, third parties and counterparties; and is relied upon by many of the world’s leading financial institutions and corporations. The ability to effectively apply AI to compliance processes is a revolutionary advancement. DDIQ harnesses the power of machine-learning and natural language processing to transform routine and difficult tasks and, thereby, accelerate and enhance critical Know Your Customer (KYC), due diligence and reputational risk management practices with exceptional cost savings.
“We are proud to be named RegTech Company of the Year. Financial institutions are under pressure to satisfy shareholder demands to meet financial metrics amidst the weight of an increasing regulatory environment. This award further evidences that by leveraging the power of AI, DDIQ is leading the way in creating a truly cost effective, sustainable compliance solution,” said Michael Beber, President and CEO of Exiger.
“Canada is a hub for AI innovation and we’re proud that DDIQ is a leader in transforming critical compliance processes. As a company, we achieved major milestones in 2017 that will continue to disrupt the marketplace. We’ve merely scratched the surface with AI and its ability to transform compliance, globally,” said Dan Adamson, President of DDIQ and Global Head of Cognitive Computing at Exiger Tech.
The Canadian FinTech and AI Awards celebrate Canadian innovation in financial technology and artificial intelligence. The Awards ceremony was held in Toronto on November 27, 2017 at The Carlu.
Exiger is a global regulatory and financial crime, risk and compliance company. Exiger arms financial institutions, multinational corporations and governmental agencies with the practical advice and technology solutions they need to prevent compliance breaches, respond to risk, remediate major issues and monitor ongoing business activities. Exiger works with clients worldwide to assist them in effectively managing their critical challenges while developing and implementing the policies, procedures and programs needed to create a sustainable compliance environment. A global authority on regulatory compliance, the company also oversees some of the world’s most complex court-appointed and voluntary monitorships in the private and public sectors, including the monitorship of HSBC. Exiger has four principal business units being: Exiger Advisory; Exiger Diligence; Exiger Government Services; and Exiger Tech, including AI-based automated due diligence solutions DDIQ and Insight 3PM. Exiger operates through offices in New York City, Silver Spring (DC Metro), Miami, Toronto, Vancouver, London, Hong Kong, and Singapore.