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C&T seminar on RegTech: CISC shares how intelligence as a service transforms compliance management
Hong Kong, June 8, 2023 - C&T and ACW Distribution held a seminar, Transforming Compliance Management with AI and RegTech, on June 2 at the Hong Kong Productivity Council (HKPC), for organizations across industries to gain practical insights in applying new technology to regulatory processes and shared the integration of CISC’s intelligence as a service and Tableau’s data visualization.
Attending the seminar were practitioners in the banking, finance, insurance and education sectors, as well as non-profit and government entities challenged with a large load of information to process in their compliance processes. This seminar was hosted by Dr. Vivien Chan, CEO and co-founder of CISC, which is C&T’s cyber intelligence arm carrying the technology and innovation from the Center for Information Security and Cryptography, Engineering Faculty of the University of Hong Kong (HKU). Dr. Chan demonstrated in real time how the intelligence-as-a-service (IaaS) platform by CISC is able to extract relevant data from public sources and present it in a usable form for users, and apply technologies such as web crawling and natural language processing (NLP) in order to detect counterfeit and incompliant products (IaaS project of Electrical and Mechanical Service Department, EMSD) and perform anti-money laundering (AML) procedures while reducing laborious manual checking.
Another hot topic discussed at the seminar was the rising number of data breach reports locally and internationally. During the IaaS demonstration of the personally identifiable information (PII) protection solution, Dr. Chan showed participants how VITOVA's PII masking can auto-protect sensitive information to comply with different specified data protection laws. The IaaS showcase also highlighted the integration with Tableau modern data modeling tools to provide due diligence reporting with easily customizable and dynamic dashboard visualization.
With the audience sharing their compliance handling difficulties in their real business practice, this CISC seminar on RegTech created an informative exchange platform for the participants to gain a better understanding of the advances in AI, NLP and machine learning algorithms and how they can improve efficiency and accuracy of screening, compliance and regulation.