Frankfurt-based consulting and technology company msg Rethink Compliance is now a member of Germany's largest AI network
Frankfurt am Main, November 18, 2021. msg Rethink Compliance GmbH, a company with focus on anti-financial crime compliance within the international msg group, is joining the German AI Association (KI Bundesverband e.V.) as a new member. The association connects innovative companies in the field of artificial intelligence (AI), machine learning and deep tech with established business and politics. More than 300 companies are part of the AI network. msg Rethink Compliance contributes many years of experience of its consultants and in-depth professional and technical domain knowledge in the area of anti-financial crime to the association. The company's main focus is on practical, AI-supported applications to intelligently support and automate compliance processes.
With its membership and by working closely with other pioneers, msg's anti-financial crime compliance specialists want to help establish the development and application of AI technologies even more strongly in the compliance sector of the financial industry. Complex, constantly changing regulations increasingly drive up compliance costs. At the same time, the increasing digitalization of the business is leading to new risks. Therefore, supervisory authorities are encouraging financial institutions to evaluate new AI-based approaches to more effectively detect financial crime. Together with Robotic Process Automation (RPA), they can help to significantly reduce the costs of compliance processes and improve their effectiveness.
"As a new member of the German AI Association, we are looking forward to the dialog and collaboration with other AI experts. We want to actively contribute to the current AI topics of our industry in Germany and Europe and want to play a leading role in shaping them. The network of the AI association provides the perfect setting for this to jointly better exploit the potential of AI in the area of fighting money laundering, terrorist financing, bribery and corruption," says Dirk Findeisen, founder and managing director of msg Rethink Compliance.