Vectice and ServiceNow join forces to enable flying high on AI governance by implementing automated document process management for financial organizations.

Vectice has announced a new partnership with ServiceNow, which can be used for AI governance and compliance for financial institutions. The collaboration is about simplifying workflows and integrating document management of processes into ServiceNow's Integrated Risk Management (IRM) platform.

Under the arrangement, Vectice will provide its customers with automated, compliant auditing and documentation serving as policy guidance in a workflow and traceability for model development and validation. These capabilities are enabling risk and data science teams to proceed through approvals at a quicker pace and eliminate compliance bottlenecks.

With the tightening of oversight of the text and image in documents around the world, both in the form of new regulations (Canada E-23) and in terms of environmental requirements (UK SS1/23), the importance of robust solutions with document process management is higher than ever. Documentation and lineages are automated using Vectice's platform for transparent documentation and compliance at scale with ServiceNow, providing enterprise-level processes.

According to Gregory Haardt, Co-Founder & CTO, Vectice, the integration makes governance a barrier instead of an enabler to more quickly and safely deploy AI. Aneesh Bhatnagar, Head of Risk Products at ServiceNow, pointed out that smoothly managing document is very important for making sure compliance and transparency are part of every stage in the life cycle of an AI model.

By integrating enterprise workflows with automation, the Vectice-ServiceNow partnership sets financial institutions up to receive faster approvals, mitigate risks and achieve scalable approaches to AI governance.