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Financial services

AML modernization with AI

Key steps for modernizing KYC, transaction monitoring, and sanctions screening to effectively reduce risk, increase efficiency, and contain costs.

Financial institutions have long struggled with the complicated, and sometimes conflicting, challenges of establishing and maintaining a financial crimes compliance (FCC) program. It must be acceptable to supervisors and regulators, maximize bank employee productivity, maintain cost-efficiencies, and remain client-friendly.

Building sufficient anti-money-laundering (AML) and sanctions compliance programs requires addressing numerous essential elements. At the foundation are three critical, complex, resource-intensive, and expensive processes: know-your-customer (KYC), transaction monitoring (TM), and sanctions screening.

Download our point of view and discover: 

  • How industry standards are evolving the process of KYC into perpetual KYC (pKYC), for continuously monitoring customer behavior using automation.
  • The ways various types of AI, including generative AI, as well as machine learning and data analytics tools to drive efficiency and reduce errors empower your pKYC, TM, and sanctions screening teams.
  • Why explainability and transparency are critical for providing insights management, auditors, and regulators.
  • Which key considerations need addressing to make AI implementations a success.