Dydon
Transforming the Compliance Landscape through AI

Data collection has been around for decades; however not until recently, the business world found a lucrative angle to harness its full potential through Artificial Intelligence. There is no doubt that AI represents the next wave of computing and will unleash major change in all industries, bringing benefits in all aspects of our lives. With regulatory compliance being a boardroom agenda, it is paramount that an organization’s function should be managed efficiently and effectively—supported by focused and targeted technology solutions. For a successful venture of harvesting and making the best out of the available data, organizations not only need to employ the best AI methodology for analyzing their internal data to derive actionable insights but also must keep a profound and real-time knowledge of external market elements/data that could impact the credibility factor of an entity.

“Due to the complexity of AI, companies often have the wrong perception of AI and its capabilities—making it essential to elucidate them the real capabilities of AI and jointly define the intended core objective to be achieved with AI,” says Dr. Hans-Peter Gullich, founder & CEO of Dydon. Rising to prominence following the same principle, Dydon marked its foundation as a provider of tailored and flexible AI platform solutions to digitize compliance and regulatory management processes for enterprises and banks. Driven by client’s analytics objectives and assessment of available data types and structures the most appropriate AI Method mix is selected, capable of analyzing the data and achieving the client organizations’ core objectives. Dydon offers a flexible AI platform using tailored-to-fit combinations of artificial intelligence and machine learning methodologies based on one central taxonomy to generate business-specific solutions. Combining all analysis results with Dydon’s predictive reasoning model, a forward-looking management information is generated which is presented to the client through highly intuitive and informative dashboards. This visibility brings complete control back into the hands of the management.

The key differentiating factor that Dydon brings is identifying the key risk for its clients, both internal and external and then aggregating this information in an easy and digestible fashion to provide a complete and contextual overview of the client’s compliance standpoint along with a detailed analysis of prevalent and probable risk factors. Delivering a robust suite of compliance products within its portfolio, Dydon provides five existing solutions for improving efficiency and reducing costs—Back Office Management, Legal Regulation Management, Portfolio Management, Compliance Radar, and Outsourcing.

The AI solution offered by Dydon is a brilliant culmination of intelligent data gathering, analytics, aggregation, prediction and intuitive result presentation. The end report is presented through an accessible and user-friendly Dashboard - providing a unique insight as a medium for determining weaknesses and potentials of the organization. This information forms the substantial ground on which the company’s management makes crucial business decisions. The AI tools deployed by Dydon comply highly with both numeric data as well as text data and are also highly optimizable through machine learning, training the system to align with the objective of the client. With such a level of dexterity, application of AI in governance, compliance and risk management arena garnered an exponential growth trajectory through significant cost reductions of up to 50 percent coupled with measurable efficiency increase of 30 percent and ease of management while contributing to a widespread positive perception of AI in the market.

According to multiple reports produced by the University of Zurich, IIF and JPMorgan Chase, the financial services industry spends over 70-80 billion dollars annually on compliance activities alone. Dydon’s unique approach aligns with deploying the best methodologies for managing compliance and mitigating risks. Illustrating about one of the company’s client engagements, Gullich describes how Dydon helped a UK based banking corporation in studying the market information and the impending risks associated with adverse marketing and rumors about their products. Through semantic text analytics, Dydon processed the data gathered and transferred the relevance of this information into indicators, which determined the market perception of the product. In another engagement, Dydon assisted an asset management firm to optimize their back-office processes in reading and managing their emails. The company automated the process of reading each email and sending the request to concerned authorities.

With a growing stronghold on the compliance market and making considerable advancements in increasing the methodologies and applications of its AI services, Dydon is all set to embark upon a journey of higher perspectives including the integration of its products and expanding its expertise to cater other industry domain in the near future.