Deloitte and OutSystems transform risk management

OutSystems has helped Deloitte build its artificial intelligence platform, Behaviour and Emotion Analytics Tool (BEAT). Known as Deloitte True Voice and powered by BEAT’s engine, it will be used by Deloitte and its clients to meet conduct risk standards and avoid the regulatory fines associated with erroneous human judgment or insufficient oversight.

Thursday, 22nd November 2018 Posted 5 years ago in by Phil Alsop

Dan Asserati, risk advisory senior manager at Deloitte, said: “Conduct risk is front of mind for both businesses and regulators. However, identifying it is often a time-consuming process driven by random selection. For financial services firms, it often involves reviewing significant volumes of customer interactions at considerable cost. Deloitte True Voice flags when language or behavioural aspects used to sell financial products could be at risk of non-compliance, raising it before it poses a serious conduct risk to organisations. Furthermore, it can help identify insights within firms’ customer interactions, driving value, optimising processes, and improving staff training.”

Using the OutSystems low-code application development platform, recognised as a market leader by both Gartner and Forrester, the client portal took just five months to develop. The app interface itself can be customised, allowing Deloitte to build on the blueprint and tailor the solution to clients across multiple industries.

Nick Pike, Regional Vice President UK&I at OutSystems, said: “OutSystems is delighted to have been involved in the project with Deloitte, which now allows multiple organisations to visualise workflows and instinctively conduct machine learning training.”