Starling, an applied behavioral sciences ‘RegTech’ company, announced that it has been selected to present its Global Trust Initiative at the inaugural Paris Peace Forum to be held November 11th to 13th, 2018 at La Grande halle de La Villette in Paris, France.
Convened by French President Emanuel Macron to commemorate the 100th anniversary of the Armistice at the close of WWI, the Paris Peace Forum is organized to showcase various governance solutions presented by project leaders hailing from 116 countries and all walks of civil society: foundations, academia, NGOs, religious organizations, and – most notably – private business. “Peace is linked with global governance,” the organizers contend, with reference to corporate as well as civic governance.
Starling launched its Global Trust Initiative to demonstrate how its pioneering Predictive Behavioral Analytics software platform supports more timely, efficient and effective management of culture and conduct risk within banks. Misconduct in the financial sector is not limited to direct financial costs; it also drives an erosion of trust in banking and extends a decline in faith in ‘the system.’
The Global Trust Initiative will see a cross-border trial of Starling’s platform across banks headquartered in the world’s major financial centers, including the UK, EU, US, Canada and Australia. Working with one bank and one primary regulator in each of those jurisdictions, the Initiative will further industry best practices and ensure that lessons learned are shared among regulators and firms.
Starling approaches the problem of managing misconduct in a novel way, combining machine learning with the latest advances in behavioral science and organizational network analysis to identify where problematic behaviors are likely to emerge and how they may spread, contagion-like, to permeate a firm. Starling’s solution does not rely on expensive and time-consuming culture surveys. And unlike traditional surveillance and monitoring tools that are intrusive and backward looking, Starling guides managers to identify the root behavioral causes of misconduct and to monitor changes in real-time.
The Paris Peace Forum received some 900 applications from governance project leaders around the world hoping to be featured at the event. Starling’s Global Trust Initiative was selected as one of 21 projects to be represented in the New Technologies category, alongside projects sponsored by companies like Microsoft, Google and Facebook. Heads of State and government representatives from over 80 countries are expected to attend the Forum. Participants will meet with project leaders, participate in debates and open discussions, and network with other global governance leaders.
Starling is an applied behavioral sciences company using machine learning and network science to build what it calls “augmented management intelligence” tools. Its Predictive Behavioral Analytics technology reveals the performance impact of relational trust dynamics within organizations. Based on this data, Starling’s proprietary algorithms generate actionable insights, displayed through intuitive and customizable dashboards, enabling business leaders to drive improved performance and desired culture – and to identify and mitigate behavior-related risks before they are permitted to cascade into crises.