- Financial services companies
have to comply with numerous regulations.
But compliance takes time, effort, and resources
to sift through the sheer volume of regulations
and identify actionable obligations.
PwC is an industry leader in
assurance, advisory, and tax services.
They help financial institutions understand
their U.S. consumer regulatory obligations quickly
and efficiently, by harnessing the power of A.I.
And they teamed with Microsoft to bring their unique solution
to the cloud.
PwC applies Machine Learning and Azure Cognitive Search
to help uncover obligations faster,
with algorithms that scan regulations.
These algorithms are deployed to Azure.
As documents are fed into the system,
Azure Cognitive Search indexes the content,
uncovering connections buried in the fine print.
With Azure Cognitive Search, PwC can add custom skills
directly to the pipeline,
allowing them to develop the end-to-end solutions
and get to their customers faster.
PwC's commercial banking test population
found that its algorithm successfully identified
95% of all compliance requirements.
The results are quick, simple, and digestible,
giving legal, compliance teams, and internal auditors
an easy way to identify their obligations
so they can focus on more strategic work.
Now PwC is looking ahead
to new regulations,
new domestic and international regions,
and adding new industries like healthcare,
applying models to keep up
with today's changing regulatory environment.
PwC's purpose is to help build trust in society
and solve important problems.
Microsoft is helping them replace regulatory complexity
with simplicity and clarity.