Posts Tagged ‘Legal’
What you need to know about Xapien and the EU’s AI Act
While the Act doesn’t currently restrict or otherwise apply to Xapien’s product and our users due to how we handle open source information, we’re keeping a close eye on any developments.
Read MoreThe UK’s second Economic Crime Plan and how AI can help
For the last four years, the UK’s Economic Crime Plan has aimed to equip both the public and private sectors with information and tools needed to ‘detect, deter and disrupt’ financial crime.
Read MoreStrengthen AML risk management by learning the story of clients
There’s a shift in client onboarding that’s been happening for a while — firms are moving away from surface-level due diligence and taking a more comprehensive approach. They’re delving into the story behind database hits and adverse media. Why? To give the anwsers context, pinpoint the risks, and effectively manage them.
Read MoreWhat law firms need to know about the SRA’s new guidance on client risk assessment
The Solicitors Regulation Authority (SRA) recently revealed that nearly 30% of law firms audited for their adherence to AML rules in the last year were non-compliant.
Read MoreRecap of the KYC and AML landscape in 2023, and what’s next for 2024
We’ll explore the KYC and AML shifts that took place in 2023 and what to expect from the landscape in 2024.
Read MoreFrom CDD to EDD: AI’s role in every level of due diligence
Performing due diligence is time-consuming. Even when the time and resource needed is understood to be a necessary part of a compliance team’s workload, there are often knock-on effects which are less easy to stomach.
Read MoreWhat law firms need to know about RegTech
RegTech, short for Regulatory Technology, refers to technology that solves the regulatory and compliance challenges faced by organisations. But what does it mean for law firms?
Read MoreHow Xapien’s AI due diligence software works
Xapien is an AI tool that handles manual research, analysis and report writing, freeing up teams’ time to focus on serving clients better. It automates in-depth research, covering the entire process from initial search to summarising insights in a final report.
Read MoreWhat could you achieve with an automated research analyst?
Online insights about your counterpart can be fundamental to winning new business, serving your clients with the best supply chain, or mitigating risks related to fraud and money laundering.
Read MoreThe role of ethics committees in legal firms, and the need for nuanced insight
While the SRA’s Code of Conduct does specify ethical values to guide decisions, and emphasises that ‘public interest’ should be prioritised, there are nonetheless situations where it’s unclear how to fulfil these ethical obligations.
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