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Entity Data Management Handbook – Fifth Edition
Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real…
Acuris Partners with SILO Compliance for AML Data Drive
Acuris Risk Intelligence, a provider of data intelligence around anti-money laundering, anti-corruption and cyber security, has joined forces with due diligence management specialist SILIO Compliance System to enhance data capabilities. The partnership will give SILO Compliance users access to the Acuris Risk Intelligence dataset KYC6, including fraud and cybersecurity content, through an online portal that…
Refinitiv Integrates UBO and Vessel Data onto Risk Intelligence Platform
Refinitiv has integrated ultimate beneficial ownership data (UBO) from Dun & Bradstreet and vessel data from IHS Markit Maritime and Trade onto World-Check One, its flagship risk intelligence solution. The move demonstrates the firm’s ongoing investment into KYC solutions following the recent shake-up of its KYC strategy, which saw Refinitiv withdraw its KYC-as-a-Service offering in…
Refinitiv Partners Appway to Provide Digital Onboarding for Wealth Management and Broker-dealer Clients
Refinitiv has reached a strategic partnership with Appway to integrate the latter’s client onboarding solutions on the Refinitiv BETA Platform, a suite of brokerage capabilities used by many US wealth management and brokerage firms. The integration reflects a growing desire among wealth managers and brokers to automate their services, and will enable financial intermediaries and…
Pragmatic Innovation is the Key to Success
By Alessandro Tonchia, co-founder and director of Finantix. Delivering innovative Artificial Intelligence (AI)-based technologies to improve business and operational performance is crucial to the future of the wealth management industry. Wealth management advisors are paid a certain amount of basis points on the proviso that they will give a clear view on what is best…
The Case for Effective AML Controls as the FCA Highlights Financial Crime Concerns, Targets Transaction Reporting
Alongside the UK’s Financial Conduct Authority (FCA) Annual Report and Accounts 2018/19 released this week, the regulator also published its Anti-Money Laundering (AML) Annual Report. Part of a wider focus on financial crime (which includes the National Risk Assessment of Money Laundering and Terrorism Financing of November 2017 and an FCA thematic review on capital…
FactSet Launches KYC Application for Customer Due Diligence
FactSet, a global provider of integrated financial information and analytical applications, has announced the release of FactSet KYC, a cloud-based SaaS application that allows clients to streamline their KYC due diligence. The new RegTech app combines KYC robotic process automation with FactSet content and public registries, to improve the efficiency and consistency of the customer…
AI AML Software Trend Continues with Deutsche Bank’s Adoption of Finantix
At the beginning of July, Finantix announced that Deutsche Bank Wealth Management selected its AI-powered Finantix KYC Solution to help enhance the bank’s client onboarding and know-your-client (KYC) processes. The solution is already up and running in Germany, Deutsche Bank’s largest wealth management centre and the bank is now set to roll it out across…
Oracle Leverages Cloud Technology to Offer AML Services to Smaller Banks
Oracle in June announced the roll-out of its Oracle Financial Services Anti Money Laundering (AML) Express Edition to small- and mid-sized banks: allowing smaller players to cost-effectively address evolving global AML regulations and guidelines, despite their smaller IT budgets and limited resources compared to global top-tier institutions. AML Express provides unified platform to efficiently detect,…
FCA Urges Greater Cyber Resilience
The number of cyber incidents financial services firms reported to the Financial Conduct Authority (FCA) soared in 2018, and the watchdog is now calling on regulated firms to develop greater cyber resilience to prevent attacks and operational resilience to recover from them. According to data recently acquired by accountancy firm RSM under the Freedom of…