Tools & Platforms
Why AI and Blockchain Are About to Transform Compliance
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Any fintech founder will tell you that compliance is important — that’s because it is. But in today’s world of unparalleled financial innovation, whole new currencies, entirely new payment methods and borderless money, compliance is not nearly the most exciting topic.
For money to move, however, it needs to be compliant. Whether we like it or not, compliance is a necessary consideration that, if done incorrectly, could result in hefty fines.
It’s, therefore, no surprise that organizations continuously find ways to delegate compliance responsibility. Realistically, this is where most major banks that have received headline-worthy fines for non-compliance have faltered. It’s also no surprise that, as an industry, we’ve found ways for AI to streamline these processes for us.
The fact of the matter is that compliance is made simpler through the integration of artificial intelligence technology. But the real promise of compliance innovation isn’t just the application of artificial intelligence; it’s the integration of blockchain technology and tokenization — technology that isn’t being widely used yet in the traditional finance industry.
Achieving compliance with AI
When you boil fintech compliance down to its fundamental principles, it rests on thorough AML (anti-money laundering) and KYC (know your customer) screenings. These protocols have been in place since the dawn of financial record-keeping requirements in the 1970s and have been compulsory for organizations ever since.
AML and KYC processes involve heavy levels of paperwork; rigorous background checks are required of banking customers and vendors, and a meticulous eye on transaction activity must be maintained constantly to make sure no suspicious or illegitimate activity is processed.
It’s these tedious and time-consuming processes that are the most automatable through the application of AI. AI models are able to detect anomalies in transaction activity on a 24/7 basis to quickly flag and respond to suspicious activity. The promise and realization of real-time compliance monitoring have a positive impact on fintech’s ability to keep up with compliance requirements. A diversion away from reliance on human monitoring leaves much less room for error and saves company resources, too.
AI is also able to efficiently cross-reference user applications with requirements and provide the necessary approvals for customers to be onboarded quickly. More than that, when routine re-verification is required, AI is able to automate this to facilitate KYC renewal checks automatically — streamlining the process and fulfilling the requirement in the background.
The next level of compliance
But if we look even beyond AI, there’s a new and exciting wave of compliance technology on the horizon that will further transform the way fintechs and broader industries are able to follow compliance requirements. Blockchain technology, as it continues to revolutionize finance as we know it through the advent of regulated stablecoins, CBDCs and broader cryptocurrencies, will eventually infiltrate wider operations in the fintech sector, including compliance.
It’s the core principles of blockchain technology, such as tokenized information, immutable ledgers and private/public cryptography that make it such a game-changer for compliance.
The concept of tokenization doesn’t just apply to assets; tokenizing information allows companies to translate personal identifiable information (PII) — critical information for the KYC and AML screening process — into encrypted code, which can be shared between financial organizations and vendors as a means of verifying someone’s identity and therefore the transaction.
The benefit of tokenizing the information is that personal information can be verified from one organization to another without revealing PII. It removes the need for constant data-sharing requests while preserving the data’s privacy and integrity.
Related: 6 Ways Automation Can Eliminate Your Company’s Compliance Risks
All of this is performed on an immutable ledger. That is, a record that is unchangeable and permanent, a hallmark of transparency that complies with requirements for regulatory oversight and audit processes. The digitization of this ledger propels financial institutions out of manual record-keeping processes and into a world where transaction information is more standardized, accessible and transparent.
This technology is already being implemented today and will continue to redefine how organizations treat and achieve compliance moving further into the future. AI and blockchain technology in themselves drive significant impact on facilitating compliant transactions, and together, the benefits scale dramatically.
When we think of compliance, many people still think of a drawn-out, tedious process, but AI and blockchain technology will soon say goodbye to that perception, ushering in a new era of efficiency, accuracy and automation — and it’s about time.
Any fintech founder will tell you that compliance is important — that’s because it is. But in today’s world of unparalleled financial innovation, whole new currencies, entirely new payment methods and borderless money, compliance is not nearly the most exciting topic.
For money to move, however, it needs to be compliant. Whether we like it or not, compliance is a necessary consideration that, if done incorrectly, could result in hefty fines.
It’s, therefore, no surprise that organizations continuously find ways to delegate compliance responsibility. Realistically, this is where most major banks that have received headline-worthy fines for non-compliance have faltered. It’s also no surprise that, as an industry, we’ve found ways for AI to streamline these processes for us.
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Tools & Platforms
Scotta taps Nextail AI powered technology to support retailer’s growth across stores and online — Retail Technology Innovation Hub
“We’re committed to growing without compromising our values or customer experience. Partnering with Nextail allows us to proactively address operational bottlenecks and bring more precision and agility to our stock decisions. As we grow, it will be even more important to continue delivering on our brand promise of offering high-quality products at a fair price with an authentic story,” says Carlos Serra, Scotta CEO.
By leveraging Nextail, Scotta aims to boost sell-through and margins, reduce markdowns and stockouts, and improve strategic collaboration across teams through data driven insights and automation.
“Growing brands like Scotta prove that forward thinkers don’t need to wait to operate like larger industry leaders,” says Carlos Miragall, CEO and Co-Founder at Nextail. “By choosing to tackle key inventory challenges early on, they’re setting the foundation for sustainable and efficient growth, and we’re proud to be part of that story.”
RTIH AI in Retail Awards
RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries.
As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers’ businesses.
With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.
Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work – resulting in more efficiency and innovation in all areas.
Winners will be announced at an evening event at The Barbican in Central London on Wednesday, 3rd September.
Tools & Platforms
Virginia 911 call center implements AI technology to allow dispatchers to focus on emergency calls – KTVB
Tools & Platforms
In test-obsessed Korea, AI boom arrives in exams, ahead of the technology itself
July 11, 2025
SEOUL – A wave of artificial intelligence certifications has flooded the market in South Korea over the past two years.
But according to government data, most of these tests exist only on paper, and have never been used by a single person.
As of Wednesday, there were 505 privately issued AI-related certifications registered with the Korea Research Institute for Professional Education and Training, a state-funded body under the Prime Minister’s Office.
This is nearly five times the number recorded in 2022, before tools like ChatGPT captured global attention. But more than 90 percent of those certifications had zero test-takers as of late last year, the institute’s own data shows.
Many of the credentials are loosely tied to artificial intelligence in name only. Among recent additions are titles like “AI Brain Fitness Coach,” “AI Art Storybook Author,” and “AI Trainer,” which often have no connection to real AI technology.
KT’s AICE is South Korea’s only nationally accredited AI certification, offering five levels of exams that assess real-world AI understanding and skills, from block coding for elementary students to Python-based modeling for professionals. PHOTO: KT/THE KOREA HERALD
Only one of the 505 AI-related certifications — KT’s AICE exam — has received official recognition from the South Korean government. The rest have been registered by individuals, companies, or private organizations, with no independent oversight or quality control.
In 2024, just 36 of these certifications held any kind of exam. Only two had more than 1,000 people apply. Fourteen had a perfect 100 percent pass rate. And 20 were removed from the registry that same year.
For test organizers, the appeal is often financial. One popular certification that attracted around 500 candidates last year charged up to 150,000 won ($110) per person, including test fees and course materials. The content reportedly consisted of basic instructions on how to use existing tools like ChatGPT or Stable Diffusion. Some issuers even promote these credentials as qualifications to teach AI to students or the general public.
The people signing up tend to be those anxious about keeping up in an AI-driven world. A survey released this week by education firm Eduwill found that among 391 South Koreans in their 20s to 50s, 39.1 percent said they planned to earn an AI certificate to prepare for the digital future. Others (27.6 percent) said they were taking online AI courses or learning how to use automation tools like Notion AI.
Industry insiders warn that most of these certificates hold little value in the job market. A local AI industry official told The Korea Herald that these credentials are often “window dressing” for resumes.
“Most private AI certifications aren’t taken seriously by hiring managers,” he said. “Even for non-technical jobs like communications or marketing, what matters more is whether someone actually understands the AI space. That can’t be faked with a certificate.”
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