WorkflowGPT platform showcased to 110+ financial institutions at UK Finance Committee meeting
London, 26th November 2024 – Curvestone, a leading AI and automation service provider, builders of the legal AI solution WorkflowGPT, last week addressed over 110 financial institutions at UK Finance’s Third Party & Outsourcing Committee meeting, demonstrating how AI can transform DORA compliance processes for financial organisations.
The presentation, which formed part of UK Finance’s “DORA Corner” series, showcased how legal professionals can leverage AI to ensure financial sector companies prepare for the incoming Digital Operational Resilience Act (DORA). UK Finance, representing nearly 300 firms across the British banking and finance industry, selected Curvestone’s WorkflowGPT platform as a pioneering example of how artificial intelligence can be applied to regulatory compliance.
“When we discovered Curvestone’s approach to DORA compliance, we knew it would be valuable for our members,” said Adam Avards from UK Finance. “None of our associate members currently offer this capability, and it represents the perfect intersection of AI technology and practical regulatory compliance tools.”
The presentation highlighted how WorkflowGPT moves beyond simple chatbot interactions, instead breaking down complex regulatory requirements into structured workflows. This approach enables more accurate, verifiable and trustworthy compliance assessments – crucial for a regulation as far-reaching as DORA.
With DORA coming into effect on 17th January 2025, financial institutions across Europe face stringent new requirements around ICT risk management, incident reporting, and third-party oversight. The regulation’s impact extends beyond EU-based organisations, with many industry experts predicting it will become a global standard similar to GDPR’s influence on data protection practices.
“What we’re seeing is that while most financial institutions understand DORA’s requirements, they’re seeking efficient and reliable ways to verify compliance across their operations,” said Sam Floy, Head of Partnerships at Curvestone. “Law firms are perfectly positioned to help their clients with this challenge, but they need the right tools to do so effectively.”
The presentation demonstrated how breaking down regulatory requirements into structured workflows, supported by AI, can provide more thorough and reliable compliance checking than traditional methods. This approach allows for detailed analysis of contractual provisions and clear documentation of compliance status, with specific references and recommendations for improvement where needed.
As the January 2025 deadline approaches, legal professionals are increasingly focused on ensuring they have the right capabilities to support the financial sector with DORA compliance. While traditional legal expertise remains essential, the complexity of the regulation and significant penalties for non-compliance demand technology-enabled solutions that can systematically assess and verify compliance across operations.
For more information about WorkflowGPT and its DORA compliance capabilities, visit https://workflowgpt.ai/dora-compliance-checker
Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.