RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
How Process Mapping is the Starting Point for Effective KYC Automated Solutions
By Oliver Parris, Pre-Sales Consultant, encompass corporation. Your business knows that process automation will give you a strategic advantage but how do you begin to create this vision? How is all the detail of your complex Know Your Customer (KYC) process accurately captured in order to form a foundation for the journey towards automation? What…
IHS Markit Releases Accelerator with End Goal of Same-day Client Onboarding
IHS Markit has released Onboarding Accelerator, a solution to help banks and other service providers open accounts with institutional clients more quickly and ultimately in one day. The company says that, on average, the onboarding process including collection of all required information to satisfy Know Your Customer (KYC), Anti-Money Laundering (AML), credit, legal and tax…
Fenergo Builds National KYC Utility with Bahrain’s Electronic Network for Financial Transactions
The Kingdom of Bahrain has set out to improve financial institutions’ client onboarding and minimise fraud through a partnership with Fenergo. Bahrain’s Electronic Network for Financial Transactions (BENEFIT) is working with the vendor to design and implement a national Know Your Customer (KYC) utility that incorporates blockchain technology. The utility platform will support sectors including…
A-Team Group Announces Winners for 2019 RegTech Insight Awards
A-Team Group on Friday announced the winners of its prestigious RegTech Insight Awards during a well-attended and energetic ceremony held at Banking Hall on London’s Cornhill. The awards, now in their third year, recognise excellence and innovation in the provision of technology solutions to meet regulatory requirements within the financial services industry, and are uniquely…
Making KYC Simpler Through Intelligent Automation
By Roger Carson, Co-Founder & Global Financial Sales Director at encompass corporation. In this blog, we explore the concept of digital Know Your Customer (KYC) profiles. Created by intelligent automation, digital KYC profiles persist from client onboarding and through refresh and monitoring work, helping financial institutions manage and retain valuable information, control complexity and reduce costs,…
SIX and Eagle Investment Systems Expand Alliance to Include Sanctioned Securities Monitoring Service
Switzerland-based data provider SIX and Eagle Investment Systems, a BNY Mellon company, today announced an expanded alliance to help Eagle clients source global sanctions data – building on an established relationship dating back to 2011. Eagle clients can now source sanctions data directly from SIX for use within Eagle solutions. The alliance will help to…
Accuity Adds AI to Financial Crime Compliance Screening
Accuity has introduced an AI-driven account screening capability, Firco Automated Alert Reduction, aimed to increase accuracy in detecting and evaluating screening matches during Know Your Customer (KYC) processes. The solution results from Accuity’s acquisition of Safe Banking Systems in July 2018 and has been optimised through integration with WorldCompliance data. Rather than leaning on manual…
KRM22 Launches Conduct Risk Training Offering through Global Risk Platform
KRM22, a technology and software investment company focusing on risk management in capital markets, today announced a new partnership agreement with Dutch online training firm Entrima to make its online training portal, the Market Abuse Centre, available to buy through the KRM22 Global Risk Platform. The three training programmes available are SMCR, Market Abuse and…
Binance Partners with IdentityMind to Enhance Compliance
IdentityMind, a risk management and RegTech compliance platform offering KYC and AML service including real-time onboarding, transaction monitoring, and case management solution built for digital currency exchanges, in March announced a new partnership with Binance, the world’s biggest cryptocurrency exchange by trading volume and users. As part of a joint mission to help raise the…
A Catalogue of Errors: Regulators Fine Standard Chartered Bank a Further $1.1bn for AML Violations
The UK’s Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.16 million for Anti-Money Laundering (AML) breaches in two higher risk areas of its business, the regulator announced last week. US authorities have also fined the bank around $947 million over allegations that it violated international money laundering sanctions against countries including Iran. The…