Have you ever envisioned a day in the life of a marketer, a compliance professional, or a content author in the financial industry? Visualize having to navigate through ever-increasing global regulations which constantly evolve. Then, add the acceleration of content generation due to product and feature launches or changes, marketing campaigns, and service communications like security alerts or change notifications. Furthermore, layer this on increasing communication vehicles that are used to deliver these messages through their preferred channels while adhering to the regulations based on the type of communication and customer event. These professionals are responsible for ensuring that each piece of communication is accurate, timely, up-to-date, and disseminated to the appropriate customer with the right personalized information.
I worked with many of these professionals when I was a Digital Product Strategy Director at a large financial institution. Maintenance and deployment of disclosures is a multi-faceted and challenging part of those roles. Key stumbling blocks include:
- Ensuring that disclosure content is accurate, used in the right jurisdiction, and up-to-date
- Translating disclosures into multiple languages that are accurate and culturally relevant to the targeted audiences
- Including the right set of disclosures in the right order for every client communication
- Timely and accurate delivery of disclosures to the appropriate clients or required channels
- Deploying updated and consistent disclosures across multiple channels
- Reusing disclosure fragments across channels, products, and offers
- Addressing the uptick in volume of content and regulations (global, national, and local) and the need for faster deployment
The review process to ensure accuracy and suitability requires multiple professionals across the organization. They are involved in a lot of back and forth emails, calls, and annotations on documents to obtain input, ensure alignment, and secure required approvals so that the content is finally authorized for external publication. In observing this process and all of the hurdles, I would think to myself, “There has to be a better way!”
At Naehas, we truly are finding better ways to address these issues. I am particularly excited by the role generative AI can take in streamlining the disclosure management process. We are already starting to use it in the creation, editing, and distribution of content across channels for financial institutions, and we see the following benefits:
- Efficiency, scalability, and speed by quickly producing new content drafts using prior compliant communications and incorporating new requirements and context utilizing adaptive learning
- Customized and personalized disclosure creation based on data driven content, events, and rule-based criteria delivery. This ensures timely, relevant disclosures to the customer’s journey and tailored to specific jurisdictions, markets, and cultures, and crafted in multiple languages
- Disclosure accuracy and consistency across all communications by adhering to compliance and brand guidelines
- Cost efficiency by automating routine and repetitive tasks resulting in reducing the risk of human errors and enabling teams to focus on more strategic tasks
Having a digitized disclosure management system that serves as a single source of truth for multiple and diverse teams, combined with generative AI, significantly amplifies efficiency and dramatically reduces compliance risks and eases workloads. Adding generative AI to the system is about transforming how Naehas and Capgemini enable fast, compliant, and effective customer communications that include the right set of disclosures. You can read more about the generative AI and disclosure management system use case in a new e-book I wrote with a counterpart at Capgemini. We are working together to revolutionize the disclosure management landscape for disclosure consumers, authors, marketers, along with operational and compliance professionals. Download the e-book to see how we are alleviating the pressures of information overload, enhancing comprehension and charting the course for efficient, compliant, and impactful customer communications.
