Fairfax, Virginia, December 2018 – January 2019 – Exprentis Inc., an analytical solutions firm providing advanced RegTech services addressing the challenges of the Financial Crime Risk Management (FCRM), Anti-Money Laundering (AML), Trade Surveillance / Reporting, as well as Model Risk Management (MRM) , reported on its core operational results in 2018 and set expectations for 2019.
Exprentis continued delivery of its core analytical services with a steady pace in 2018. Exprentis professional services teams kept a sharp focus on the quality and timeliness of their contracted projects.
Exprentis closed 2018 with eight specialized analytical services contracts covering various aspects of the FCRM, AML/CFT/KYC, OFAC, and MRM functions. The key demand came from European and Asian financial institutions with subsidiaries or significant operations in US.
Predictions for 2019 indicate that Exprentis services will face increasing demand, since analytical needs emerging from applications of the AI/ML technologies will exponentially grow in 2019 from its 2018 levels. Exprentis sees the primary demand for analytical services related to customer risk and financial crime risk scoring models, both ML-based as well as based on quant and statistical methods. The name matching models for sanction screening are catching up with the model risk management requirements creating needs for advanced analytics. Behavior detection models seem to be entering their stability phase where the ongoing monitoring and tuning play the key role.
“Large financial institutions that constitute the majority of the Exprentis customers established rigorous standards and processes for development, optimization, validation, and monitoring of their analytical models. Exprentis teams operate within those established model governance frameworks executing varieties of tasks with a fair degree of independence. 2018 was proof that our experience, wealth of the expertise, and our dedication to quality are greatly appreciated by our customers. We are going to continue delivering a superb customer care experience in 2019.” said Ewa Grzybowska, VP of Operations and Analytics at Exprentis.
About Exprentis, Inc.
Exprentis is a specialized provider of advanced RegTech solutions and services targeting financial crime detection, trade surveillance, regulatory reporting and compliance, and risk management needs of the financial services industry. Analytical solutions and services provided by Exprentis balance more traditional and well established technologies with modern Artificial Intelligence and Machine Learning tools and paradigms. Exprentis also developed the AI/ML-based Resolvian RegTech platform that operates as an ensemble of intelligent assistants that augment financial crime investigations and model risk management tasks. For more information go to www.exprentis.com and www.resolvian.com