Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog

We present a novel technological approach, based on Textual Rulelog, to automated decision support for financial regulatory/policy compliance, via a case study on banking Regulation W from the US Federal Reserve. Legal regulations and related bank operational policies in English documents are encoded relatively inexpensively by authors into Rulelog, a highly expressive logical knowledge representation. Key compliance queries are automatically answered accurately and fully explained in English, understandable to non-IT compliance staff and auditors. The prospective business impact of our approach over the next decade or two is significantly increased productivity and systemic stability, industry-wide, worth many billions of dollars. 1 Business Case A complex set of regulations and associated policies govern a wide range of operations and activities that financial institutions, such as banks and investment firms, engage in every day. Compliance, and proof of compliance, are essential...

• Type: Journal
• Year: 2015
• Where: RULEML
• Authors: Benjamin N. Grosof, Janine Bloomfield, Paul Fodor, Michael Kifer, Isaac Grosof, Miguel Calejo, Terrance Swift
• Keywords: Internet Technology, RULEML 2015