Deloitte and OutSystems set out to transform risk management

OutSystems, the platform for low-code application development, has helped Deloitte build its artificial intelligence platform, Behaviour and Emotion Analytics Tool (BEAT): Deloitte True Voice.

It will be used by the consultancy firm and its clients to meet conduct risk standards and avoid the regulatory fines associated with erroneous human judgment or insufficient oversight.

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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.”

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Using the OutSystems low-code application development platform the client portal took 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, according to the announcement.

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.”

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Nick Ismail

Nick Ismail is the editor for Information Age. He has a particular interest in smart technologies, AI and cyber security.