Let’s talk

Jan. 30, 2023

Modernising Financial Crime Compliance Hasn’t Worked, What Next? (The Fintech Times)

Share this:

Despite firms’ attempts at modernising their financial crime compliance systems for KYC, Screening and Transaction Monitoring, they’re still facing challenges in complying with regulations and increasing efficiency.

The logic behind modernising was to reduce the amount of manual work carried out by analysts such as ineffective manual searches, screening one entity after another against specific criteria, and ticking off tasks manually in a spreadsheet.

In the article for The Fintech Times, Harinder Singh Sudan, our senior vice president of financial intelligence unit, explains that AI could hold the key to automating manual processes which are prone to human error and can be extremely costly to an organisation. 

Read the full article here.  

Read more about how your organisation could benefit from AI with our ELEMENT of Compliance application, here.


Follow BlackSwan on Twitter and LinkedIn