Narrative Science, a provider of advanced natural language generation for the enterprise, announced the launch of Quill for Anti-Money Laundering (AML). Quill for AML automates many of the manual processes related to regulatory reporting and compliance documentation by generating natural language reports that are consistent and traceable back to the system of record.
The solution helps AML departments in the following ways:
Meet regulatory requirements. Quill for AML equips AML compliance teams with immediate access to comprehensive and accurate narrative reports, including automated SAR Narratives, and reduces the need for additional resources.
Ensure consistency and increase scale of reporting. Quill for AML standardizes reporting to satisfy regulatory bodies’ desire for consistency while also writing reports in seconds so they are filed on time, every time.
Improve transparency. Quill for AML enables AML analytics teams to optimize detection models without spending days reporting on the recommended changes. Quill can increase transparency into model changes and report in plain language the benefits of parameter changes.