Deploying AI Chatbots in Regulatory Licence Application Processing
Combining a chatbot interface enhanced with document processing capabilities, Nexus’ AI RegBot assists regulators in automating simple, manual tasks so officers can spend more time where it matters.
Our client, a leading global market regulator in the Middle East, wanted to automate the processing of regulatory licence applications for a specific category of financial services.
Combining the benefits of a chatbot interface enhanced with document processing capabilities, Nexus’ AI RegBot assists regulators in handling public enquiries, scheduling meetings and guiding applicants on how to fill up and submit lengthy application forms. By providing real-time feedback and validation checks at the point of submission, the likelihood of information and risk gaps is reduced, in turn cutting down turnaround times and creating a smoother user experience.
Officers are notified of completed submissions and conveniently presented with the required information extracted and compiled automatically from the licence application forms and documentation, for their assessment. By automating the simple, manual tasks, officers can now spend more time where it matters: making decisions and dealing with exceptions.