Insight

Webinar: Navigating new technologies to strengthen AML – Customers, compliance and complexity

By Alexander McGill

Oct 29, 2020

There’s an enormous opportunity for financial services organisations to streamline and improve operational risk and regulation processes. While we already estimate that financial services organisations spend around eight per cent of their income on compliance, the ongoing effects of COVID-19 continue to spark a surge in fraud. This further reinforces how crucial it is for financial services organisations to have strong financial crime compliance.

Adopting technology that strengthens financial crime compliance and protects customers should be a central part of banks’ resetting and recovery approaches. But, during our webinar with 215 leaders of financial institutions, our live poll found more than half believe there’s either too much choice or the available technology doesn’t suit their needs. It’s unsurprising firms are hesitant, how can you ensure you’re making the right investment decision in an increasingly complex and fast-moving technology space?

In the below video recording, risk and regulation technology expert Alex McGill and financial crime expert Craig McLeod reflect on the above, sharing:

  • an overview of new technologies in anti-money laundering, with KYC and onboarding as specific use-cases
  • how to consider the customer angle when making risk and compliance technology decisions
  • what we’re seeing in terms of new trends and challenges from FinCrime as a result of COVID-19.

 

Alex McGill and Craig McLeod join UK Finance to discuss how firms can navigate new technologies to strengthen financial crime compliance whilst considering their customers
Alex McGill and Craig McLeod join UK Finance to discuss how firms can navigate new technologies to strengthen financial crime compliance whilst considering their customers

 

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About the authors

Alexander McGill PA financial services expert Alex is an experienced consultant who works with banks and regulators to recover failing regulatory change initiatives.

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