Saifr Named "Best AI-based Solution for Financial Services" in 7th Annual AI Breakthrough Awards

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Jun 26, 2024, 09:00 ET

Prestigious International Annual Awards Program Honors Standout AI and Machine Learning Solutions and Companies

BOSTON, June 26, 2024 /PRNewswire/ -- Saifr, a compliance solutions provider that uses artificial intelligence (AI) to help firms mitigate regulatory risks, today announced that it has been selected as the winner of the "Best AI-based Solution for Financial Services" award in the seventh annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global AI market.

Saifr's rules-based, machine learning (ML) and deep learning models help compliance and marketing teams to develop and review more compliant content up to 10x faster while reducing brand and regulatory risks.

Saifr began in Fidelity Labs, an in-house software incubator of Fidelity Investments, with access to millions of proprietary data points, representing the work of thousands of marketing and compliance experts in various lines of business. These documents—and those from other independent sources—were validated by experts, including former regulatory staff attorneys, and feed the NLP models.

Saifr's models "understand" content—including text, images, audio and video—as it is being created and highlight potentially risky words, phrases and images, explaining why something might be misleading, exaggerated or problematic. The models go beyond flagging content to suggest alternative, more compliant language and needed disclosures. Models also score content for marketing optimization, including sentiment, readability level and inclusive language. Changes can be made before compliance even sees the first version.

"We're incredibly proud to receive the 'Best AI-based Solution for Financial Services' award from AI Breakthrough. Our goal is to help firms produce better, less risky content faster, and take control of marketing compliance early on even in the face of evolving regulations and significant penalties," said Vall Herard, CEO of Saifr. "Our solution has been shown to consistently flag 90% of what a human compliance reviewer would, enabling professionals to focus on the more nuanced, challenging issues that require uniquely human judgment. Our team will continue to use their spirit and drive to make an impact through advanced AI."

The mission of the AI Breakthrough Awards is to honor excellence and recognize innovation, hard work and success in a range of AI and ML-related categories, including Generative AI, Computer Vision, AIOps, Deep Learning, Robotics, Natural Language Processing, industry-specific AI applications and more. This year's program attracted more than 5,000 nominations from over 20 different countries worldwide.

"Saifr is addressing the changing needs of financial services, making it easier for firms to spend more time doing what matters most for their clients. Financial institutions are subject to constantly evolving regulations to protect investors. The impacts of these violations cause multiple rounds of compliance review that make it difficult for marketing teams to deliver timely communications," said Steve Johansson, managing director, AI Breakthrough. "Saifr helps reduce friction, improve efficiency, and mitigate risk. Their innovative, AI-driven solutions help clients get materials to market faster, reducing brand and compliance risks, and assisting in their efforts to protect consumers from being misled when making important financial decisions."

About Saifr
Saifr, a RegTech within Fidelity Investment's innovation incubator, Fidelity Labs, is committed to safeguarding organizations from pervasive AI and regulatory risks. Using intelligent technology that efficiently and effectively navigates complex compliance and regulatory requirements, Saifr helps clients save time, reduce costs and improve accuracy while protecting the firm. Our advanced, AI-powered risk prevention and management solutions include capabilities for marketing compliance review and adverse media screening and monitoring. Learn more at https://saifr.ai.

About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including Generative AI, Machine Learning, AI Platforms, Robotics, Business Intelligence, AI Hardware, Computer Vision and more. For more information visit AIBreakthroughAwards.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

Media Contacts:
BLASTmedia for Saifr
[email protected]
317-806-1900 ext. 139

SOURCE Saifr