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Financial Services organizations face increasing pressure to improve their Anti-Money Laundering (AML) compliance programs—and there’s a lot at stake. Among other things, AML programs, which are defined by regulations and mandated by law: Stop illicit use of global financial networks.…
My previous post focused on the urgent Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) issues facing financial institutions and the specific needs of business units. Business units are under pressure to keep pace, but so are compliance and auditing. All three lines…
A few years ago, when Panama Papers and other offshore leaks were the subject of news stories, I remember reading an article about a woman, a resident of a small island in the Caribbean, who was listed as a director…
You’ve likely invested in Know Your Customer (KYC) programs, whether for a traditional reason (risk assessment and regulatory compliance) or for a strategic growth reason (sell more, serve customers better). And they’re humming along, presumably. Or are they? If you…
As promised in my earlier post, I want to continue the conversation around the ways machine learning can help with KYC. In this post, I will explore two examples that are indirect applications of machine learning. I will start with…
Is it taking too long to onboard new customers due to risk, compliance and due- diligence screening? Are your sales reps not getting proper commissions for their sales? Are you missing important KPIs in customer service? Are you not getting…
I spent many years in the AML and KYC analytics industry where I created analytics and metrics to help identify deficiencies of risk rating methods and converted data into meaningful insight into customer behavior and potential red flags. I also…
