AI-Powered Tool to Improve Compliance & Sanctions Screening Process in Banking
In 2023, U.S. banks faced over $33 million in fines for sanctions violations. Financial institutions encounter challenges in sanctions screening for various reasons, including outdated sanction lists and backlogged governmental reports. Recognizing these challenges, Sprinterra has developed a prototype of an AI-powered sanctions screening tool, the AI WatchList Chat, designed to improve and streamline this crucial […]
AI Can’t Survive Without Humans: The Inside Story of How AI Is Developed
Artificial intelligence (AI) is a rapidly evolving field that is revolutionizing the way we live and work. However, few people are aware that AI’s progress is highly dependent on human collaboration. Behind every AI system is a dedicated developer team responsible for its creation, maintenance, and enhancement. They are the ones constantly pushing the boundaries […]