Luke Hinchliffe Head of Marketing at Arachnys Information Services
Anyone working in a compliance role in financial services will appreciate the critical part that software plays in effective onboarding, due diligence and anti-money laundering investigations. As banks strive towards decreasing customer onboarding times, achieving perpetual KYC and enabling more efficient AML checks, they are realizing the potenti...
16 February 2021 /regulation /crime Financial Transformation
Josh Rix Director at Woodhurst Consulting
Some machine learning tools are incredibly complex. So complex that they are considered to be “black box” systems. On the one hand, they are determining more and more accurate outputs to increasingly difficult problems. But on the other, the inner workings of these solutions can’t easily be understood by a human, and the rationale for the decision...
15 February 2021 /regulation /startups Artificial Intelligence and Financial Services
Payson Johnton CEO and Co-Founder at Crowdz
As businesses across the nation continue to swim against COVID-19’s economic tsunami, we’re beginning to see a new trend emerge from companies who have fared well (or thrived): social impact financing. This new wave of corporate social responsibility (CSR) is a simple way to drive tangible support outcomes for struggling businesses, rather than re...
12 February 2021 /regulation /inclusion Inclusive FinTech
Retired Member
Operational resilience, the ability to protect critical operations and core business lines from any hazard, needs to be right at the top of the agenda across the financial services ecosystem. Its importance has been significantly reinforced by the year we have just had. The pandemic brought about massive disruption across the industry, affecting h...
12 February 2021 /regulation /covid-19 Fintech
Adam Holden Chief Executive Officer at NorthRow
Many firms have taken the trouble to digitally transform their onboarding, but are wasting eye-watering sums of money and man-hours on inefficient processes when it comes to ongoing monitoring. And yet KYC monitoring is vital to ensure compliance with Money Laundering directives so where does it all go wrong and what can firms do to implement chan...
11 February 2021 /regulation /crime RegTech
Ido Nir Head of Financial Crime Solutions, APAC at Oracle Financial Services
How risky are Politically Exposed Persons for your financial institution? Financial institutions are required to consider and appropriately manage Politically Exposed Persons (PEPs) and their close associates as higher risk customers. They are required to impose strict measures when establishing new business relationships with PEPs and to ensure c...
10 February 2021 /regulation /crime Sustainable compliance
Matt Beattie Managing Director at Beyond
As financial institutions move to integrate, automate and streamline their systems (all in the face of a toughening regulatory environment), process flows and the underlying data points are coming under increasing scrutiny. As such, customer and operational remediations continue to be a common occurrence. Despite this many remediation efforts have...
09 February 2021 /regulation /wholesale Banking Regulations
In my last blog, I shared some thoughts on how different forms of AI could not only help improve the customer experience, but also ensure that the bank remains in compliance with various industry regulations. As promised, the focus of this blog will be on how AI can both help ensure/monitor regulatory compliance, as well as some of the regulatory...
03 February 2021 /regulation /cloud Artificial Intelligence and Financial Services
Garima Chaudhary Head of Fin. Crime Solution Consulting at Oracle
The United Nations Office of Drug Crime estimates that $800 billion to $2 trillion, or 2-5% of global GDP, is laundered globally every year. What is driving this massive amount of money laundering? After drug trafficking, human trafficking is the second top motive for money laundering. Forced labor generates over $150 billion per year by robbing ...
02 February 2021 /regulation /crime Innovation in Financial Services
Eric Solis CEO and Founder at MovoCash
Across industries, disruptive technologies like artificial intelligence (AI), machine learning (ML) and blockchain are driving a cashless payment ecosystem forward to offer faster and more secure financial transactions. With FinTech at the forefront of this recent innovation, here are my five predictions on the horizon for the banking industry and...
02 February 2021 /regulation /predictions Digital Banking Trends
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