Valital wins Canadian RegTech Award again
Canada’s Bill C-18 takes effect December 19, making Valital more vital than ever
MONTRÉAL, Nov. 20, 2023 - Valital, an AI-powered adverse media analysis platform, is the Canadian RegTech Association’s (CRTA) 2003 winner for the Best Operational Risk Management Solution. This latest CRTA award is the second in three years. In 2021, Valital was also named Best RegTech solution for Managing Operational Risk and Resiliency.
The Canadian RegTech Association, a non-profit organization, brings together key RegTech stakeholders to establish a common understanding of regulatory challenges and the technologies available to improve compliance. It facilitates dialogue, raises standards and promotes growth and innovation in the Canadian financial service sector.
“We’re pleased that a judging panel of experts continue to recognize the value we’re bringing to the market,” says Ronny Aoun, CEO and founder of Valital. “Since launching our AI-powered solution in 2020, we continue to see strong traction not only here in Canada but also in the US and UK. The need for what we do is increasing every day.”
Adverse media is a cornerstone of due diligence today, and regulators around the globe recognize its growing importance as part of a holistic operational risk management framework. But the process is often rife with challenges for teams that struggle to do the work manually or with tools that provide too much “noise.” Valital is changing the adverse media landscape using the latest in AI innovation to deliver only relevant information to users.
Valital uses AI models ethically and responsibly to scour the internet in real-time to extract, filter and analyze publicly available misconduct information on individuals and organizations. Valital designs, develops, tests, trains and operates AI algorithms based on inclusive and representative data and ensures that its AI models are explainable, interpretable and transparent.
With Canada’s Bill C-18 set to take effect in a matter of weeks, Mr. Aoun says Canadian businesses will need even more help to overcome these challenges, because they will no longer be able to rely on Google searches to conduct adverse media screening.
Valital is used primarily by a range of risk management professionals as part of their risk management frameworks.
Valital is an award-winning AI-powered adverse media monitoring platform being used by leading firms across financial and professional services. Valital scours the internet to extract, filter and analyze real-time open-source intelligence. It flags relevant online information on companies’ adverse ESG risks as well as individuals’ misconducts. Valital partners with IVADO, an artificial intelligence research and transfer institute, on key R&D projects.
For more information, go to www.valital.com
Ladanna James, Valital