Lee Walton

On July 19, Behavox were joined by clients, regulators and industry leaders at our HQ in Montreal to be part of a special event, the Behavox AI in Compliance and Security Conference!

It was our pleasure to relaunch our pre-COVID tradition of inviting guests to our HQ and sharing some of our exciting developments! The conference was an incredible amalgamation of the brightest minds in the field networking in one place, so let’s take a look at some of the highlights from this momentous event.

Keynote Speeches, Workshops and Fireside Chats

Attendees enjoyed various workshops, demos, and Innovation Paddocks (click here for our collated Paddock overviews), as well as keynote speakers addressing:

  • The use of Artificial Intelligence-driven models in Compliance;
  • Model Risk and approaches to evidencing use of AI in Compliance;
  • Quality Assurance framework for Artificial Intelligence;
  • Application of Continuous Learning for voice transcription; and
  • How to build reliable and scalable execution infrastructure for AI models

Nicole Frew, Executive VP & Chief Compliance Officer at Scotiabank joined our CCIO, Fahreen Kurji for a fireside chat to discuss the pivotal role technology plays in compliance, how to drive organizational change that embraces innovation and the challenge of running a compliance organization in a perpetually evolving risk environment.

Once the keynote speeches were over, attendees headed out to visit the eighteen Innovation Paddocks, what was in store for attendees here?

Innovation Paddocks

Attendees at the conference had their pick of eighteen Innovation Paddocks to visit and learn directly from the engineers and data scientists behind the incredible innovations coming out of Behavox HQ.

Each Paddock had its own respective one pager with all relevant information on topics such as:

  • Insider Crime
  • Automation of ML Model Creation
  • Multiclass ML Scenario Execution
  • NextGen CI & CD and more!

In case you missed it, don’t worry, you can download collated Innovation Paddock overview here.

Behavox Quantum: State of the Art AI in Compliance

The conference also provided attendees with the opportunity to test drive Behavox Quantum, a leap in AI and machine learning that has a brand new, state-of-the-art AI execution engine and a brand-new AI architecture.

These changes have gone through rigorous scientific testing to make objective comparisons regarding the accuracy and efficiency of Behavox Quantum versus alternatives. Using these scientific tests, Behavox Quantum was benchmarked against lexicon-driven products and consistently performed at least 3,000 times better in both accuracy and performance, with some models performing even greater still.

“Behavox Quantum generates more useful, actionable alerts, meaning less time is wasted chasing false positives. The ability to catch 80% of bad actors in comparison to the 2% Lexicon catches will revolutionize the industry,” says Chief Technology Officer Joseph Benjamin. “The objective benchmarking of Behavox Quantum puts it unequivocally in a league of its own, the market leader from day one.”

The latest and greatest innovation from Behavox demonstrates how traditional rule based systems simply cannot compete with the AI core of Behavox Quantum and you can take a look at the product overview here.

Key Insights from the Conference

At the conference, clients were able to take our latest innovation, Behavox Quantum for a test drive. The revolutionized alert system, 99.09% more accurate than lexicon alternatives, was of particular interest along with the Transcription and Nebula Paddocks.

Taking attendees for a drive was Milagros Daglio, Platform Specialist at Behavox, here’s what she had to say:

“Quantum test drives are an interactive way to allow users to experience the high quality alerts that Behavox creates. Attendees were somewhat starstruck at the difference between traditional solutions and Quantum and excited at how quickly they can get this revolutionary new solution implemented.”

The fireside chat with Nicole Frew was enlightening as she was able to provide valuable insights into what it takes to navigate the journey into a leadership role, the challenge of being a woman in senior leadership, and on facing challenges once you get there. Understanding and being comfortable with the fact that you don’t have all the answers, is vital. How she used compliance as a vehicle to build consumer trust in the bank, but not only consumers, there is also a focus on regulators, employees and the communities in which we live and work.

You can check out the full interview between our CCIO Fahreen Kurji and Nicole Frew, Executive Vice President & Chief Compliance Officer at Scotiabank, here.

This conference was particularly special, not just for the revolutionary product launch, incredible keynote speeches or Innovation Paddocks, but also because it was the first time since COVID that we’ve been able to welcome clients and guests to our offices, and we look forward to doing it again in the near future, keep an eye on our events page for announcements!

Upcoming: Financial Crime Summit

Keep an eye out for the upcoming event, the 1LoD Financial Crime Summit where our CCIO Fahreen Kurji and CRO Nabeel Ebrahim will be joining the panel to discuss “The Future of The Financial Crime Function” and how organizations are protecting their digital headquarters against increasing financial crime risks such as money laundering, fraud, sanctions evasion, and terrorist financing.

What can you look forward to at the event?:

  • Keynote addresses from international regulators and public sector agencies
  • Panel discussions featuring senior practitioners within banks working to tackle financial crime
  • Networking roundtables for interactive discussions on key themes and topics
  • 1:1 introductory meetings between practitioners and sponsor representatives
  • 38+ Speakers, including Richard Ahern, Managing Director, Head of Financial Crime at Barclays.
  • Roundtable: Monitoring and reviewing the skills of all staff involved in the mitigation of fraud risk
  • VIP Breakfast Day 2 to discuss: Leveraging internal communication data to detect bad actors
  • Fireside Chat with Fahreen Kurji, CCIO at Behavox.

Reserve your spot to the summit here.