- BNY (BK, Financial) successfully implements AI-powered compliance monitoring with Behavox Quantum.
- The new system enhances risk management capabilities across 16+ languages.
- Tom Wileman emphasizes the initiative's alignment with BNY's core risk management mission.
BNY (BK), a global financial services leader, has completed the implementation of Behavox Quantum, an AI-driven compliance monitoring system. This Software as a Service (SaaS) deployment is designed to enhance the company's compliance monitoring and risk management across its communication channels in over 16 languages, bolstering BNY's comprehensive risk approach in its Compliance and Conduct divisions.
Tom Wileman, Head of Global Compliance Assurance at BNY, stated, "Core to BNY’s mission is identifying, assessing, and mitigating risks across our organization as we execute on our strategy." With Behavox Quantum's adoption, BNY aims to elevate its compliance monitoring and strengthen its holistic risk management strategy.
Behavox's Chief Revenue Officer, Nabeel Ebrahim, praised the collaboration, describing the project as a model for large-scale enterprise technology implementation. The integration signifies a significant advancement in BNY's capability to manage risks and comply with regulatory requirements globally.
As of December 31, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and manages $2.0 trillion in assets, demonstrating its prominence in the financial industry. The company continues to support major financial markets, governments, and pension plans worldwide.
