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    Live Comply Regtech App Development
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    LiveComply Regtech Solution

    A comprehensive AI and RDA solution development.

    Highlights

    In 2019 our team was faced with the task of a Regtech product development that, on the one hand, could become a full-fledged assistant to auditors and lawyers, and on the other hand, it would be of interest to any company to save on employee salaries and not to involve lawyers and auditors on staff or as consultants.

    This solution helps businesses to stay compliant with the newest government regulations. It would not only resolve issues with the government regulation of data storage, but also assist to avoid possible data leaks and make the storage process more predictable and transparent.

    Industry

    Regtech

    Security

    Team

    5

    Duration

    12 months

    Country

    Poland

    Challenge

    The most important and difficult point in the implementation of this project was training of a neural network model utilizing huge volumes of unstructured data. . Firstly, it was necessary to take into account not only the GDPR regulation rules of the European Union, but also the regional policies of all countries. Thus, a notional company in Italy must comply with both the GDPR and the Italian governing laws. And so on for each country.

    Secondly, all solutions that currently exist on the market work only with English, while LiveComply can analyze all European languages, not only Latin but also Cyrillic alphabets. Such multilingualism is especially useful for international companies with multilingual sites.

    Thirdly, since our tool works with different languages ​​and different countries, respectively, the sensitive data for all countries is different. Thus ID and other personal numbers (such as tax registration number, ID or passport data) are very different from those in a neighboring country in title / number of characters / use or no letters and so on.

    Fourthly, all companies have data that is stored in various places and even on the side of their business partners. This can be data from live chat, Google Analytics, contact forms and personal data that salespeople manually record in the CRM system. With such chaos, especially in large corporations, you can forget about some part of the data and not take it into account in the Policy. LiveComply analyzes and highlights all data for clients that even their lawyer may not know about, because the client simply forgot about them.

    Fifthly, the rules of regulation are constantly changing and it is necessary to constantly take into account and make changes to the overall system. 

    And the main point, we had to be extremely attentive to all details, since the GDPR regulations apply to almost every organization in the EU, and in case of an error, this could lead to huge fines for LiveComply clients and loss of reputation for us.

    LiveComply regulatory law development

    Solution

    The solution was implemented from scratch, starting with collecting the business requirements from subject matter experts, designing the UI/UX, training neural network models and developing the web application . Since this topic is very sensitive, we couldn’t afford to make mistakes or inaccuracies in the output of data that could lead to huge fines, so we involved lawyers and auditors in the development. 

    We delivered a comprehensive RDA( Robotic Documents Automation) solution designed by Data-Scientists with our AI skills involved as well as our other tools launched earlier – CogniPy and FluentEditor. The app collects data from databases, file systems, emails and other enterprise systems. Then all data and documents are scanned and the recommendation system provides solutions. 

    The output is an application where the client in the admin panel can find all data needed, browse detailed reports on all stored personal or sensitive data, and recommendations for their storage and authorization.

    Regtech solution Development

    In the case when a request for deletion of data is received, it can be difficult to find exactly WHERE this data is collected for a particular user, especially in companies of Enterprise level. LiveComply helps you quickly find all the data about this person and delete or disable them from marketing activities if the data needs to be stored for a certain period of time by law.

    Moreover, for all companies, mainly large corporations and companies from the financial sector (such as banks) and all related ones to the public sector, data storage security is crucial. We have resolved this issue by not collecting and sending data to the cloud, but deploying it in the internal environment. This rules out from our side the risks of data breaches and possible vectors of cyber attacks.

    Another “side effect” may be the benefit to the marketing department of the customer company. Cross-channel analytics always has a blind spot where clients come from. Even if you brought in a professional to set it up, she/he could simply not take into account some data as you forgot about it. Now the marketing department can properly set up analytics taking into account all the data collected and learn from each lead.

    At the moment, the product is presented as an MVP, and our team continues to work on it adding new features. We are planning to add Arabic and Turkish languages as well as other useful functionality.

    Whitepaper

    Testimonials

    Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions
    “This saves costs for us and the client.”
    Now we can comprehensively examine the legal situation in [GDPR] by devoting only a fraction of the time spent during an audit. This saves costs for us and the client, being a significant competitive advantage.

    Ł. Kulicki

    CEO, Law & Consulting Firm

    Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions Cognitum rating opinions
    “Extremely innovative, indispensable and useful tool.”
    Extremely innovative, indispensable and useful tool in the organization (…) by automating the manual and time-consuming element of the personal data area…

    Ł. Czernikow

    GDPR initiatives

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    Technology Specification

    Cognitum Software House ASP.NET
    Cognitum Software House Typescript
    Cognitum Software House React
    Cognitum Software House CogniPy
    Cognitum Software House AWS

    backend:

    .NET, BERT, RabbitMQ,CogniPy

    frontend:

    React, Typescript

    cloud:

    AWS: ECS, ECR, CloudFormation

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