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Star: AI is reshaping back-office operations at financial institutions, OKX has already applied it to compliance and risk control support
PANews, October 7 – On-site at TOKEN2049 in Singapore, OKX founder and CEO Star said that AI's transformation of the financial industry is happening not only on the user side, but is also going deep into back-office operations such as compliance and risk control. OKX has already applied AI to assist in identifying risks, supporting investigations of suspicious transactions and behavior, and providing recommendations, in order to improve processing efficiency and execution consistency. At present, AI does not directly make compliance or risk management decisions; final decisions are still made by humans.
On-site, OKX board director and former New York State Governor Andrew Cuomo also added that clear regulatory rules are an important foundation for fintech companies to expand their services. For companies to provide financial services to a broader range of users, they must comply with regulatory requirements and build public trust through compliant operations.
Source: PANews