Archer, a leader in enterprise risk and compliance management solutions, unveiled its latest product, Archer Assurance AI, aimed at revolutionizing compliance management through advanced artificial intelligence. The company also introduced its new Archer AI Governance product, user-centric enhancements to the Archer interface to deliver a next-generation risk experience, and updates to a broad range of risk and compliance offerings.
“Archer is dedicated to fostering innovation and providing the next-generation risk experience to empower our clients with true enterprise visibility to risk,” said Bill Diaz, CEO of Archer. “As recognized GRC leaders and pioneers, we continue to raise the bar with products that streamline processes, deliver actionable insights and provide demonstrated value, leveraging AI responsibly to enhance our clients’ success.”
Introducing Archer Assurance AI
Archer Assurance AI, the latest innovation from Archer and a game changer for regulatory compliance, bridges the gap between regulatory change and compliance. It provides a powerful, fresh approach for regulated firms to rapidly assess, react and report on regulatory changes at scale, to help keep pace with their impacts to policies and controls while minimizing penalties and negative exposure.
Also Read: TeamBridge Raises $28M in Series B Funding To Drive Tech Innovation for the Hourly Workforce
Archer Assurance AI links incoming regulatory intelligence directly to control implementations while integrating core risk assessment capabilities. It assists organizations in complying with all applicable regulations by establishing controls and policies to manage risks associated with both regulatory and non-regulatory requirements.
Leveraging AI, Assurance AI constructs regulatory intelligence flows, automatically identifying gaps, conflicts, and suggesting role/line of business-based solutions while ensuring that policies and controls align with relevant global obligations. Purpose-built machine learning models continuously monitor the regulatory landscape for relevant changes, mapping them to internal policies and controls.
Assurance AI automatically filters content to synthesize only relevant regulatory information, consolidating regulatory and corporate policy initiatives into a global obligations catalog. The product monitors obligations, controls, and policies to detect gaps or conflicts. It assesses millions of regulatory updates from over 2,000 regulatory sources – expanding at a pace of ~60 new sources each month – across more than 80 countries and 99 native languages, with automatic translation support in 27 languages to ensure compliance with globally changing regulations.
Introducing Archer AI Governance
The new Archer AI Governance offering supports risk managers in promoting responsible AI usage within organizations. Aligned with the European Union (EU) AI Act, AI Governance allows risk managers and compliance professionals to oversee AI-related risks while adhering to regulatory compliance. It facilitates centralized management of AI assets through customizable assessments tailored to specific industry needs.
Archer AI Governance provides comprehensive AI inventory management, categorizing applications by risk levels and ensuring compliance across diverse regulations through an accessible controls library. Detailed documentation and audit trails foster transparency and explainability, with the product evolving in response to shifting regulations and industry standards.
Next-Generation Risk Experience for All Levels
Archer has made substantial enhancements to its user interface, designed to provide a next-generation risk experience that encourages engagement at all user levels. Based on extensive user feedback, the updated UI increases productivity and simplifies workflows for risk and compliance professionals, enabling effortless task execution with minimal training.
The improved UI offers optimal performance and seamless integration with existing systems via open APIs, minimizing administrative burden. By ensuring compatibility across devices and adhering to accessibility standards, the updated UI supports modern browsers, enhancing navigation and user experience.
Latest Updates for Archer Products
In addition to these groundbreaking offerings and user interface enhancements, Archer will showcase the latest innovations and industry-leading features across a multitude of offerings at Archer Summit, Nov. 11-13 in New Orleans:
- Archer RMIS AI significantly boosts enterprise GRC programs by offering modern solutions for managing insurance policy data, claims management, and analytics. Key enhancements include an AI tool that automates workflow creation and an AI chatbot for quick access to information, optimizing searches to uncover potential loss opportunities within claims data.
- Updates to Archer Insight streamline risk aggregation on the dashboard’s heatmap, enabling quick assessment of impacts at both individual and overall risk levels. Ownership can be assigned and risk categories like compliance breaches or DDoS attacks can be evaluated across relevant assets. Archer Insight aggregates similar risk instances, showcasing enterprise-wide exposure. Actionable dashboards feature drill-down capabilities for improved understanding of risk impacts, while enhanced filtering allows focus on specific entities and related risks.
- Archer Audit Management upgrades streamline the audit process, allowing auditors to navigate engagements more efficiently. New Audit Engagement Templates facilitate faster completion while reducing inter-departmental dependencies. With capabilities for offline audits, auditors can transition seamlessly between Archer and Excel files without internet access. The new Risk Control Matrix library simplifies the creation of reusable templates, while enhanced Agile Audit functionality provides a comprehensive overview of audit engagements, enabling unique boards for individual audits while maintaining oversight of all progress.
- Integrating generative AI, Archer Engage optimizes third-party assessments by automatically populating response data and supporting documentation. It standardizes assessment questionnaires using a unified control set that covers policies, internal controls, and regulatory compliance, significantly reducing manual tasks and improving stakeholder engagement.
- Archer Third Party Security Risk Monitoring employs innovative data capabilities for insights into third-party security performance, featuring automated security ratings and real-time alerts for security incidents. This product allows users to conduct detailed analyses of security subdomain ratings, ensuring organizations can continuously monitor third-party security levels effectively.
- Archer IT Security Vulnerabilities Program now encompasses application vulnerabilities, helping clients manage risks across applications and devices. Enhanced data ingestion and integration from various security vendors improve decision-making, equipping organizations to defend against potential threats.
- The updated Archer ESG Double Materiality Calculator aligns with the latest European Financial Reporting Advisory Group guidelines and the Corporate Sustainability Reporting Directive (CSRD), providing a user-friendly workflow that assists users in navigating critical sustainability issues while ensuring regulatory compliance.
SOURCE: BusinessWire