AI’s ability to process large volumes of data with speed and accuracy can potentially transform regulatory compliance — but not without attendant risk and challenges. In the short term, the technology can be used to assist business leaders to understand compliance requirements easily and take apposite action, but circumventing human intelligence and our ability to think ethically and abstractly makes AI’s role in compliance controversial and complex.
Is AI the answer to effective risk management? IsoMetrix’s John Castner details why companies need to stop focusing on predictive analytics and instead prioritize removing a siloed risk management approach to deal with the impact of COVID-19. As industries push to leverage technology, in today’s COVID-19 world, many are looking ...
Read moreWhile AML and CFT aren’t necessarily simple matters, training on these topics can be made overly complex. Compliance pros Gustavo Fideney and Alvaro Ruiz Ostos offer a more accessible interpretation. Webinars On AML: Harsh Times Everyone talks about how important anti-money laundering (AML) and combating the financing of terrorism (CFT) ...
Read more2020 promises to be a year of significant opportunity and change for organizations, as well as for the governance, risk and compliance (GRC) functions that support them. MetricStream’s Gaurav Kapoor discusses trends and changes to expect this year. New innovations in artificial intelligence (AI) and other disruptive technologies, coupled with ...
Read moreBruce Orcutt from ABBYY shares how artificial intelligence can extract meaning from contracts in the same way as humans do, the challenges businesses face in using AI and the benefits the technology can offer. Contracts are the engine of a business; they contain critical business intelligence needed to run the ...
Read moreFraud levels increase in times of economic distress, and the global pandemic is creating a once-in-a-lifetime opportunity for financially rewarding mischief. H5’s Sheila Mackay discusses what companies can do to quickly identify and prevent fraud. The Brewing Storm As companies strive to adjust to the altered state created by the ...
Read moreThe pull of artificial intelligence is strong, but there are serious ethical questions that must be addressed in certain fields. Nexdigm’s Director of Intelligent Automation and Accelerated Analytics Service, Amit Kumar, considers the implications of using AI solutions in health care. “Ethics is knowing the difference between what you have ...
Read moreFirms need not throw away long-established governance principles to adapt to AI/ML. Rather, as Mayer Brown’s Reginald Goeke, Stephanie Monaco and Leslie Cruz share, companies can modify their existing model risk management systems to address issues raised by AI/ML tools. As the financial services industry increasingly turns to the use ...
Read moreWhistleblowing is on the rise and may gain further traction from recent stories in the news, increasing the burden on the investigators. H5’s Jeffrey Grobart discusses tools and methods to accelerate the vetting process. From Edward Snowden to the as-yet-anonymous White House whistleblower(s), actions taken by individuals to expose suspected ...
Read moreAll functions of the organization are looking to streamline and transform. As Lakshmi Raj of Replicon explains, forward-thinking businesses have a lot to gain in bringing their time and attendance systems into the 21st century. There are a few choice buzzwords that just about everyone in workforce management hears on ...
Read moreAccess Partnership’s Seha Yatim contributes to the discussion on tech policy trends, offering predictions for increased data-sharing regulations this year. Our data is collected by almost every service we use. Many companies, from social media platforms to content platforms, e-marketplaces and search engines, rely on an advertising-driven, data-tracking business model ...
Read moreThe Changing Landscape As AML regulations are getting more stringent globally, criminals are focusing on using countries with lowest risk categorizations and intermediary banks with high credibility to launder money. The latest victims of this crime are the Nordic banks, which were until recently among the safest and most stable ...
Read moreRevolutionizing the Fight Against Financial Crime Artificial intelligence (AI) has the ability to completely transform how banks perform anti-money laundering (AML) and know-your-customer (KYC) compliance. Additionally, for the purposes of anti-money laundering, artificial intelligence systems can mine huge volumes of data for risk-relevant facts, simplifying the process of identifying high-risk clients. ...
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