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May. 26, 2020

THE RISE OF THE FIFTH INDUSTRIAL REVOLUTION

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By Liron Golan @BlackSwan Technologies

 

I bet that at least 50% of you, reading this article, are doing it from the comfort of your home.

Yes, I know that most of us are sequestered in our humble abodes due to #COVID-19, but long-term, the whole point of the flexibility that “Work From Home” provides is precisely that you can work from anywhere. It may be your home but it may as well be a café, a beach, a friend’s house, a hotel or in short – from anywhere.

Some consider nowadays as the rise of the fifth industrial revolution – the distributed workforce revolution.

A distributed workforce capable of working from anywhere is now a reality of many global organizations today, inevitably changing the term ‘9-5’.

Just last week, Jack Dorsey, the dual CEO of both Twitter and Square informed his employees at both companies that they can continue working from home “forever.”

What that means is that your business can continue onboarding new clients, selling products, and meeting your compliance obligations even if critical team members are suddenly required to work remotely.

While for some industries, like retail or Telco, that might be considered “business as usual”, this is not the case for many financial institutions.

And why is that?

The financial sector is a highly regulated industry, and as such, working remotely, mainly when onboarding new clients or selling regulated products, brings with it a hefty dose of compliance challenges.

How did COVID-19 and the need to work remotely amplified these challenges?

To make matters worse, many financial institutions are fighting just to keep up with the breakneck pace of technological change, with many back-office systems and processes simply not designed for remote access.

As advances in technology give rise to new ways of approaching age-old problems, a new term has begun to surface, one that will no doubt dominate the global dialogue around compliance in a short time: End-to-End Compliance.

Remote END-TO-END Compliance

To ensure end-to-end compliance from anywhere, there are a few mandatory requirements that organizations should consider:

  • Covering the entire KYC and AML workflow – with guaranteed scalability, reliability, and security.
  • Ensuring Business Continuity through remote access and simple, quick integration with the existing compliance processes.
  • Harnessing the power of AI – to better manage risk by predicting and acting on AI-powered insights.
  • Working with world-class cloud operations – with at least 99.99% guaranteed availability, certified with the highest levels of security at every layer: PCI, HIPAA, and GDPR.
  • Military-grade security -ensuring efficient and reliable connectivity to get up and running in minutes from anywhere.

 

Unleash the power of AI -from ANYWHERE, ANYTIME

This is where BlackSwan Technologies’ (BST) KYC on Demand comes in.

Driven by the latest advances in Cloud Engineering, Artificial Intelligences, and Cognitive Computing, Element, offers a complete white box solution, allowing full configuration of every aspect from data acquisition via enterprise processes to the actual AI algorithm.

Our unique schemaless infrastructure will enable businesses to design and define its bespoke eco-system, including entities, properties, relationships, risks, rewards, and opportunities highlighting their market value proposition and way of doing business.

KYC on Demand takes that platform and provides it as a highly secure, high-performance remote-access SaaS application designed to support the core KYC workflow as part of a seamless, end-to-end compliance offering. What that means is that your business can continue onboarding new clients, selling products, and meeting your compliance obligations even if critical team members are suddenly required to work remotely.

Want to hear more? Visit our Website

 

Liron Golan, Head of Marketing, brings 20+ years of technical and business experience to his role at BlackSwan Technologies. Liron has proven expertise in leading development, project management, and product marketing teams for large global companies. In both his business and personal life, he is passionate about creation and nurturing till maturity, and is enthusiastic about a combination of hands-on responsibilities and directing others.