Regulatory efforts may prove valuable, but banks and law enforcement still need to use SARs more effectively, and that’s where cognitive analytics for AML can be a tremendous boon.
Some people believe that the application of price optimisation takes advantage of price-insensitive customers. In fact, a powerful pricing engine is more necessary than ever.
Uncovering hidden patterns in money movement makes machine learning for AML a very attractive enhancement to existing AML operations.
Pressures from internal finance departments reacting to accounting standards have strong implications for managing collection agencies and debt buyers.
Banks are really starting to take a more integrated approach to financial crime management, and our announcement today about First National Bank (FNB) of Lebanon is a case in point.
The pressure for banks to tackle push payment fraud is mounting – besides liability, the scope for bad publicity and loss of reputation is significant.
Ofcom are currently consulting on how to address overpayment for mobile phones - is better customer communication the answer?
Clearly, we need other approaches to AML case management than hiring investigators. An increase in both effectiveness and efficiency of the overall compliance process is required.
Alarmingly, from RFPs we’ve seen at FICO, many banks are creating systems that will either be non-compliant with SCA or will create an unacceptable customer experience
I was interviewed recently for a new TV program called Tomorrow’s World Today, where I discussed how we are using AI and machine learning for financial crime protection.