Belfast RegTech provider, Automated Intelligence, has announced the appointment of Mark Dowds as Chairman of the board. His selection comes as part of a strategic decision by the company to focus its offering towards the financial services sector.
Dowds, a serial investor and entrepreneur, has extensive financial services experience, having co-founded Trov, the world’s first on-demand insurance platform, in 2012, in addition to his current role as Managing Director at leading venture firm, Anthemis. Prior to this, he co-founded BandofCoders and ServiceCloud, which was acquired by Salesforce.
Over the past 20 years, Dowds has earned a reputation across the US, Canada and UK for bringing velocity and high growth to early stage companies.
Through his Canadian and Irish-based incubators, Dowds has helped dozens of tech businesses scale rapidly and sustainably.
Simon Cole, CEO at Automated Intelligence, comments, “We’re excited to welcome Mark as Chairman. He is highly respected in the banking and insurance industry, with an amazing record for growing successful companies. We have set ourselves some pretty ambitious targets for the next phase of growth, Mark will be invaluable in helping us realise our goals, creating more jobs at our Belfast office in the process.”
Under increasing regulatory scrutiny, the need for technology solutions that can handle the rising volumes of data and enable cyber security, compliance and risk management is becoming more apparent in the banking and insurance industry across Europe.
Having refined its product offering, Automated Intelligence is already in talks with a number of incumbent banking institutions regarding AI.DATALIFT, its RegTech platform is specifically designed to provide highly regulated Financial Services firms with data insight and compliance in the following areas:
- Identification of over-retained data (FCA / SYSC)
- Identification of data not under governance (FCA / SYSC)
- Identification of personal data (GDPR / CCPA)
- Identification of card data (PCI DSS)
- Automatic classification of data retention and disposition policies
- Automatic classification of data against your Information Governance strategy
“Financial Services is crying out for a solution like Automated Intelligence. The siloed, incompatible nature of many of the current technologies being used is a major challenge for the banking and insurance industry. Automated Intelligence overcomes that and sits perfectly alongside existing technologies. There is a real opportunity for this company to dominate the market and I’m delighted to joining Simon and the team in making that happen,” comments Mr. Dowds.