Podgorica, (MINA-BUSINESS) – In cooperation with the United Nations Development Programme (UNDP) Office in Montenegro, the Central Bank (CBCG) has launched a project to develop an AI solution for automated compliance checks in the field of payment services.

“The aim of the project is to develop a digital tool that will enable more efficient analysis of documentation submitted by banks and other payment service providers in terms of compliance with applicable laws and secondary legislation,” the CBCG posted on its Instagram page.

Amid an increasingly complex regulatory framework and the large volume of documentation submitted by financial institutions, the CBCG is developing modern technological solutions to further enhance the efficiency, speed, and consistency of supervisory processes.

The AI tool will use text analysis technologies to review regulatory acts and submitted documentation, identify potential non-compliance, generate recommendations for alignment, and enable the preparation of analytical reports.

“This initiative marks an important step in the digital transformation of the CBCG’s supervisory functions and in strengthening the institution’s capacity to apply modern technologies in regulatory processes,” the CBCG stated.

The deadline for submitting bids is 18 March.