Sionic Toronto talks fintech with Taiwan
Toronto-based Sionic partner Camon Mak discusses Sionic’s Regulatory Content Management System at this Fin & Tech Talk organised by the Taiwan Academy of Banking and Finance’s Fin & Tech Innovation Village. The event is supported by the British Office in Taipei – Department for International Trade.
You can find full event details and registration links here.
The proliferation of regulation across jurisdictions and among various rule-making authorities has made it extremely challenging for regulated firms to track effectively. Sionic’s regulatory experts, with the help of a strong database of taxonomized rulebooks, helps clients to navigate the process and demonstrate compliance to regulators.
As the complexity of this task increases, the need for more advanced technology to populate, contextualize and manage mountains of information grows. In order to address this, Sionic has partnered with cognaize, a technology firm focused on AI-based processing of financial documents. Our process starts by identifying regulatory websites that publish and maintain the official regulations from jurisdictions around the world. The relevant regulations are then extracted and machine learning is applied to structure that data for display in the application, Themis. Once done, this process can be run repeatedly to capture any changes in the regulations.
Sionic and cognaize also work together to apply deep learning to the challenge of taxonomizing regulations automatically, and to enable the machine to adapt the taxonomy assignment to different clients’ specific taxonomies and requirements.
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