Complaint communications have long been a thorny issue for financial institutions. Multiple teams need to be coordinated throughout an organization for the creation of a public statement, and with significant risk to the brand posed by reputational matters as well as regulatory issues, complaint communications are something a company cannot afford to bungle.
That’s why Fidelity Investments is hoping its latest offering will help manage this complex task. According to a statement from the multinational financial services giant, their new regulatory technology business Saifr will harness AI-driven human augmentation tools to make the complaint communication creation process faster and safer than ever before.
Saifr is built around two major digital tools: SaifrReview and SaifrScan. The former is the primary platform of the new business, providing a workflow dashboard meant to simplify content creation, disclosure detection, and approval for complaint communications. At the same time, SaifrScan uses natural language processing models to flag any potential compliance risks that could present problems for an organization.
Vall Herard, Saifr’s Managing Director through Fidelity Labs, describes the key to these tools as a streamlined human–machine partnership. “By minimizing friction throughout this process,” Herard explains, “Saifr frees up time for content creators, marketers, copy editors, legal, and compliance specialists to focus on the value-added details.”