US financial services giant BNY has rolled out a new AI-driven communication system to detect insider threats and support it in meeting regulatory requirements.

The new technology enables BNY to analyse various communication channels across more than 16 languages.

BNY has partnered with Behavox, an AI company that turns data into insights that safeguard and enhance businesses, to implement the new system.

BNY is the corporate brand of The Bank of New York Mellon Corporation. Headquartered in New York City, the organisation currently employs over 50,000 people globally.

“Core to BNY’s mission is identifying, assessing and mitigating risks across our organisation as we execute on our strategy,” said Tom Wileman, head of global compliance assurance at BNY.

He went on to say that by rolling out the new system, the organisation is able to elevate its compliance monitoring and strengthen its “holistic approach” to risk management.

The AI system is also being used by a number of large banks, hedge funds, and commodities trading companies worldwide, including JP Morgan, Glencore and Brevan Howard.

BNY says it currently helps over 90 per cent of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need.

As of December 31, 2024, the company oversees $52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.

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