• creance.ai, a PwC Germany and Aleph Alpha Joint Venture, sets up pilot project with companies in the financial sector
• Deutsche Bank, Gruppe Börse Stuttgart, and VÖB Service will work with creance.ai to evaluate GenAI solution’s potential for tackling compliance challenges

Together with creance.ai, a joint venture between PwC Germany and Aleph Alpha, a group of financial services companies based in Germany will participate in an legal and compliance pilot project using generative artificial intelligence (GenAI) to optimize the handling of complex regulations.

Deutsche Bank, Gruppe Börse Stuttgart, and VÖB Service will work with creance.ai to explore how GenAI can help with the validation of Information and Communication Technology (ICT) service provider contracts against the new EU regulation DORA (Digital Operational Resilience Act). This new regulation aims to harmonise the rules relating to operational resilience for the financial sector. In this pilot project, creance.ai will empower compliance experts to master the requirements of DORA with a new level of trustworthy AI and save significant time and expense.

“We believe in the huge potential of Generative AI, with material benefits expected in future for the way we operate”, says Christoph Rabenseifner, Chief Strategy Officer – Technology, Data & Innovation, Deutsche Bank. “We are looking forward to joining the pilot to explore how GenAI can be applied for an important use case in our highly regulated industry.”

Dr. Philipp Veit, Head of Group Innovation & Partnerships at Boerse Stuttgart Group, says: “As a highly regulated player, both in our traditional capital markets business and in our crypto and digital business, compliance isn’t just a requirement for us – it’s the foundation upon which trust and integrity are built. GenAI has the potential to revolutionize the way we approach our regulatory obligations. Our partnership with Creance represents an exciting leap towards combining the power of this innovative technology with our deep expertise and rich experience. By developing high-impact use cases, we aim to transform and strengthen our compliance processes, thereby fortifying our commitment to transparency, security, and performance – and ultimately the trust of our stakeholders.”

Dr. Stefan Hirschmann, Member of the Board VÖB-Service GmbH, says: “At VÖB-Service, we’re incredibly excited about the transformative potential of generative AI in reshaping compliance processes in the banking sector. The ability to automate complex, repetitive tasks while ensuring accuracy and regulatory alignment is a game-changer. Creance’s capabilities in simplifying and automating compliance will be a vital tool in helping companies focus on growth and stay ahead in an increasingly regulated environment.”   

Björn Viebrock, Member of the Management Board of PwC Germany and Head of Tax & Legal Solutions, says: “When we launched our joint venture four months ago, we knew it was groundbreaking for the radical transformation of the legal and compliance market. By combining first-class AI technology with in-depth, global consulting expertise, we will be able to support our clients even better in mastering complex challenges in disruptive times.  Today, we are proud to be able to prove our aspirations together with Börse Stuttgart Group, VÖB-Service GmbH, and Deutsche Bank. Working together with such iconic industry leaders is an important step in establishing creance.ai’s solutions as best-practice and standard tools in the legal and compliance market.”

Jonas Andrulis, Founder and CEO of Aleph Alpha says: “With our industry-leading GenAI technology, we are enabling companies to cut through the mass of new standards, the complexity of organizations, and the seemingly infinite amount of data that make compliance so challenging. This doesn’t only serve efficiency goals but also makes up for the growing lack of experts. We transform the compliance value chain and change the game, not only by focusing resources but also by adding transparency into some of the most complex problems while empowering humans.”

Aleph Alpha was founded in 2019 with the mission to research and build the foundational technology for an era of strong AI. The team of international scientists, engineers, and innovators researches, develops, and deploys transformative AI like large language and multimodal models and runs the fastest European commercial AI cluster. Its generative AI solutions are the prime choice for enterprises and governmental institutions seeking to retain independence, secure their data, and build trustworthy solutions. 

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