IBM announces Watson Financial Services for RegTech

On June 14, IBM announced a new Watson solution to address the needs of risk and compliance professionals. IBM Watson Financial Services for RegTech combines the capabilities of Watson with the industry expertise of its Promontory Financial Group, acquired last year, to address the evolving challenges in the financial services sector. With specific capabilities for regulatory compliance, know your customer (KYC), anti-money laundering (AML), conduct surveillance, and financial risk, these new offerings will leverage the cognitive capabilities of Watson and the deep industry knowledge of Promontory to accelerate responses to regulatory change and automate key components of ongoing risk management.