Trust Exchange has launched a series of applications that enable governments to connect, engage and collaborate more effectively and operate at the speed of trust. Join us on November 15th at 1:00PM EST as we discuss these innovative solutions and how they help local governments digitally transform their interactions with local businesses.
Financial institutions have a regulatory obligation to mange and monitor the compliance of all of their Third Parties ( Vendors, Customers Partners etc.) This function, while normally complex and expensive has been complicated by the uncertainty added to many companies by the pandemic response over the past 18 months. Join us and some industry experts to discuss the state of Vendor Compliance in this new reality.
Thank you to everyone who filled out our 2021 Vendor Management Survey! We had over 1,500 participants from a variety of backgrounds including Banking, Pharma, Government, and Retail! Despite the huge variety in organization size and number of key vendors, there was something over 80% over our respondents had in common: they expect their vendor management costs to increase in 2021.
Trust Exchange, a collaborative compliance platform, today announced that the company has appointed Graham Richard, former Mayor of Fort Wayne, Indiana to its Advisory Board.
While very powerful, Artificial Intelligence (AI) is often misunderstood and broadly applied to solve problems that may not be a fit for the technology. In banking and finance, compliance pressure and the associated costs have grown exponentially in recent years instigating a search for effective solutions. Unfortunately, AI is becoming the hammer used against almost every compliance nail.
Join us on Thursday February 28th at 12 Noon EST as we study the true cost of vendor management. During this webinar, we will take a look at the tactical costs of interacting and transacting with Third Parties as well as make a case to consider a well designed vendor management program a valuable asset.
Topics to be covered:
Definition of Vendor/Third Party
Vendor On-Boarding Best Practices
Vendor Monitoring Policies
Results of Trust Exchange Vendor Management Cost Study
Analysis of Results and ROI
Impact of Collaboration..Value Creation
This will be following by a Question and Answer session. Additionally, we may be joined by an industry expect to share their experience. Don’t miss this one!
Next week, I'm speaking in Boston on April 18th and 19th, at the Risk Management Association's Governance, Compliance and Operational Risk Conference. I'm speaking on a topic that is very familiar to me but may be a tad bit controversial for the typical Risk Management Professional. The Topic: How Collaborative Compliance Overcomes the Limitations of Artificial Intelligence.
Artificial Intelligence has been over-hyped to the point where it is thought of as a cure-all. In fact, some claim computerized superhuman intelligence is just around the corner. So powerful, that AI-powered computers and robots will take all of our jobs! This is simply not the case. Ai has a LOT of limitations. It is powerful but in a very specific set of applications.
Artificial Intelligence works well when both the data being analyzed and the analysis rules are static. OCR, Gaming, Diagnosis and Speech Recognition are all good examples of AI working at scale. AI is a way to super scale LINEAR problems. However, Operational Risk Management and Regulatory Compliance are fields wrought with redundant manual processes that chase and verify rapidly changing data. They are EXPONENTIAL problems.
In my talk next week, “Compliance in an Exponential World: The Role of Artificial Intelligence and Curated Crowdsourcing in the Future of Compliance,” I will explore the use cases and limitations of Artificial Intelligence for managing risk and compliance and compare it to Trust Exchange’s unique Collaborative Compliance solution.
If you're attending, drop me a line here: http://www.trustexchange.com/GCOR
E: info@trustexchange.com
T: 888 777 8434
24 Veterans Square, Media, PA 19063 | 701 Brazos Street, Suite 1616, Austin, TX, 78701
