DBS adapts AI-powered bank screening process

The system will conduct automated risk assessment of clients, investments, and transactions.

DBS Bank has partnered with tech firm Exiger to adapt an artificial intelligence (AI) powered bank screening system to improve its screening processes for institutional and retail clients.

The bank will implement the automated AI-powered solution DDIQ, which reportedly uses cognitive reasoning in conducting risk assessments of clients, investments, transactions, third parties and counterparties. Findings from each level of risk assessment will be recorded in the platform to ease the process of manually extracting and collating data for audit, compliance, and regulatory purposes.

In the first phase, DBS will work with Exiger to deploy DDIQ’s AI-powered screening technology to initially enhance and complement the bank’s customer screening processes for institutional and retail clients in selected markets and segments.

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