CAPCO AND APTUS.AI ANNOUNCE NEW PARTNERSHIP TO ENHANCE REGULATORY COMPLIANCE THROUGH GENAI
LONDON & PISA, May 16, 2024 – Capco, the global technology and management consultancy, and Aptus.AI, an innovative start-up combining artificial intelligence with legal expertise, today announced a strategic partnership to apply generative AI to the work of legal, compliance and risk analysis teams, enabling them to react and adapt rapidly to evolving regulatory requirements.
The new partnership draws on Capco's 25 years of experience working with leading financial institutions around the world and brings Aptus.AI’s proprietary artificial intelligence technology to the global marketplace for the first time.
Companies operating in highly regulated industries face a multitude of legal, operational and technological challenges on a daily basis. Reviewing, understanding and compiling new laws requires significant time and resources, and also presents a high risk of manual error potentially resulting in financial reputational damage and penalties.
An established RegTech leader in Italy, Aptus.AI is revolutionising how banks and insurance companies overcome the challenge of regulatory complexity. Designed to detect regulatory changes in real time and transform documents into machine readable versions, Aptus.AI’s technology brings down the accessibility barrier for thousands of regulations worldwide, allowing organisations to streamline regulatory compliance processes end-to-end.
In addition to constant support in the day-to-day operations of analysing and studying regulations, Aptus.AI’s technology uses AI to complete in seconds complex tasks such as the identification of relevant regulatory requirements and their impacts on business processes. Legal professionals will be able to delegate more repetitive tasks to the system, freeing up time to focus on more strategic activities.
Andrea Lo Solfo, Partner at Capco, said: “Keeping pace with regulation is a constant challenge. Generative AI can analyze vast amounts of data and regulatory documents quickly, helping banks stay compliant and adapt to regulatory changes more efficiently. By combining GenAI with our deep sector expertise, we augment clients’ ability to develop robust compliance management frameworks and customized policies and procedures across areas such as staff education, monitoring, the remediation of violations and/or compliance shortcomings, and report generation.”
Andrea Tesei, CEO and Co-founder of Aptus.AI, said: "By working with Capco we can improve the operational efficiency of financial institutions and companies operating in highly regulated industries by reducing compliance costs and implementation time, while our service helps them adopt a proactive approach to risk management and focus regulatory expertise on higher value-added activities. This combination also benefits the clients themselves, as the automation of compliance processes results in faster response times for requests that have a regulatory component, while the efficiency benefits translate into reduced costs for both the institution and the client.”
About Capco
Capco, a Wipro company, is a global technology and management consultancy specializing in driving transformation in the energy and financial services industries. Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco’s cutting-edge ingenuity is brought to life through its award-winning Be Yourself At Work culture and diverse talent. To learn more, visit www.capco.com or follow us on LinkedIn, Instagram, Facebook, and YouTube.
About Aptus.AI
Aptus.AI is an innovative start-up, founded in Pisa by Andrea Tesei and Lorenzo De Mattei, with the aim of transforming compliance activities from an obligation and cost centre into a lever to generate business opportunities. The company has developed a proprietary AI technology that generates machine-readable versions of legal documents, making all regulations, including international ones, updated in real time, easily accessible and searchable. After closing a €1.2 million seed investment round with the support of some business angels and Fin+Tech, a CDP Venture Capital accelerator, in 2023 it finalised a EUR3 million pre Series A round led by P101 Sgr's Programma 103 fund, also backed by Fin+Tech. Read more www.aptus.ai.
Capco media contact
Tim Steele, Head of External Communications – tim.steele@capco.com
