The Financial Superintendence of Colombia (SFC) announced a milestone in the history of financial supervision, with the Implementation of an artificial intelligence tool that automates the qualification of the design of the risk prevention program for money laundering and terrorism financing (LAFT), in accordance with the guidelines established by the delegation at risk of money laundering and terrorism financing.
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This technological advance, developed by the Group of Excellence and Artificial Intelligence of the SFC, It marks a before and after in the supervision of the financial system, optimizing the work of the delegation for the risk of money laundering and terrorism financing.
It should be noted that the evaluation of the design of the Laft risk prevention program was carrying out the financial supervisor manually quite accurately, but with a considerable time of time.
This new SUPTECH tool uses artificial intelligence (AI) to improve the Laft risk prevention program, significantly reducing processing times and giving way to a more agile and objective analysis.
Additionally, being an AI technology, with each qualification the system learns and improves its precision, which allows it to process a greater number of matrices and integrate new variables for more comprehensive supervision.
Money laundering
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“With this innovation we are letting artificial intelligence take care of the most operational work, allowing SFC officials to focus on the aspects that support our mission: prospective analysis and strategic decision making”Said the superfinance.
This advance is a fundamental pillar in the development of the strategic digital supervision plan, with which the SFC seeks to modernize the processes to continue strengthening the solidity and transparency of the financial system, with tools that allow more efficient, scalable and precise supervision.
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