About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Briefs

Vanquis Banking Group Enhances AML Oversight with FinScan

Subscribe to our newsletter

Vanquis Banking Group has selected FinScan to optimize its anti-money laundering (AML) processes, reinforcing its financial crime risk management framework. The decision reflects a broader industry shift toward technology-driven compliance strategies that improve operational efficiency and regulatory adherence.

As a specialist UK bank, Vanquis faces increasing scrutiny over financial crime prevention, making the integration of advanced screening technology a strategic move. FinScan’s centralized platform enables real-time and retrospective name screening, enhancing customer due diligence and risk assessment. Its configurable matching technology supports more precise identification of potential risks, ensuring a more responsive compliance function.

Paul Blackmore, Head of Financial Crime at Vanquis Banking Group, emphasized the role of technology in meeting compliance and business objectives: “At Vanquis, compliance and operational efficiency are core to our commitment to responsible lending. Partnering with FinScan allows us to harness advanced technology that aligns with our business goals. Its scalability, configurability, and centralized capabilities make it the ideal solution to optimize our AML processes and support our growth.”

The partnership comes amid growing regulatory expectations for financial institutions to enhance their AML capabilities. FinScan’s ability to integrate diverse data sources and provide a risk-based approach positions it as a valuable tool for banks seeking greater transparency and efficiency in their compliance operations.

Steve Maul, Chief Revenue Officer of Innovative Systems, Inc., noted the tailored nature of FinScan’s capabilities: “Unlike off-the-shelf solutions, FinScan offers tailored AML compliance capabilities designed to meet the bank’s specific needs, including simplifying simulation matching for KYC onboarding and monitoring.”

This collaboration underscores the importance of adaptable compliance technology in today’s financial landscape, where regulatory requirements continue to evolve, and banks must balance risk management with operational efficiency.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to data management for regulatory reporting

Effective regulatory reporting requires firms to manage vast amounts of data across multiple systems, regions, and regulatory jurisdictions. With increasing scrutiny from regulators and the rising complexity of financial instruments, the need for a streamlined and strategic approach to data management has never been greater. Financial institutions must ensure accuracy, consistency, and timeliness in their...

BLOG

FINRA’s 2024 New and Updated Guidelines on AI and GenAI/LLM Integration

In 2024, the Financial Industry Regulatory Authority (FINRA) expanded its guidance on integrating Artificial Intelligence (AI) within the securities industry, placing particular emphasis on generative AI (GenAI) and large language models. This builds upon FINRA’s ongoing efforts since 2020 to ensure that member firms adhere to existing regulatory frameworks while adopting advanced technologies. The recent...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...