Ascent Introduces Intelligence-as-a-Service

What is Intelligence as a Service? Intelligence-as-a-Service (“IntaaS”) is the combination of automated domain expertise with traditional internet software. Imagine if your CRM came pre-filled with customer information, your taxes were pre-loaded and completed in your tax software, or your digital compliance system was pre-filled with all your data: this is the promise of IntaaS. Software-as-a-Service reduced the marginal cost of delivering services. IntaaS reduces the cost of both creating and delivering a unit of intelligence to customers. What we Do In systems where the inputs are standard and the output is identical (think self-driving cars), deep learning works extraordinarily well. Even in those systems, miniscule failure rates are extraordinarily risky. In systems where the inputs are dynamic and the outputs are targeted (n=1), deep learning must be supplemented by domain expertise and domain-specific technology (think regulation and law). This is what we have done at Ascent. By combining our knowledge of regulation and rules with data science and technology, we built automated processes that allow us to (1) create regulatory intelligence channels and (2) feed those streams through our proprietary platform. Users have the ability to access a variety of regulatory channels and construct a custom regulatory ecosystem for their firm. The results are remarkable. We can build intelligent regulatory processes in seconds, produce compliance manuals in momentes, and create compliance reports that used to take months in a couple of minutes. This is the power of Intelligence-as-a-Service: it will act as a digital backbone for any firm – at any time, from any place – with consistent, accurate information. It will allow humans to concentrate on unique tasks, rather than administration and the risk of missing something, unlocking employee creativity and encouraging problem-solving of the most important person in your compliance program: you. How we Help You Ascent empowers financial service firms to reduce risk and increase the efficiency and efficacy of their compliance program. Our proprietary platform uses a cloud-based set of customized management tools to help companies identify, track and manage their compliance obligations while decreasing their operational and regulatory costs. Our unique algorithms transform raw regulatory data into targeted obligations with comprehensive context directly from regulatory rulebooks — specifically tailored for your particular business so you always know exactly how to comply. We’ve helped firms drastically reduce the risk of regulatory actions or fines with our automated supervisory program, and completely rewritten WSPs and/or compliance manuals. The system connects your internal documentation and WSPs to your day-to-day operations, and your entire program updates automatically when the rules change. Users can conduct research on regulatory documentation (including enforcement actions, no-action letters, and other regulatory documents) and receive updates when new documentation is released, saving time and money, and reducing risk. NIBA members who mention this article will receive a 20% discount.

Ascent Introduces Intelligence-as-a-Service

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