RegTech Insight Financial Crime, KYC & AML The latest content from across the platform
AI in FinCrime Prevention – Thought Leaders to Watch
Financial crime (FinCrime) has escalated into a formidable challenge for global financial institutions, with estimated costs soaring to staggering levels. Regulatory bodies worldwide, including the U.S. Federal Reserve and the European Central Bank, have intensified scrutiny over financial institutions with compliance failures in this high-stakes environment coming with hefty penalties including fines reaching into the…
SymphonyAI Extends Financial Crime Data Solution
Artificial intelligence-powered software-as-a-service provide SymphonyAI has expanded its financial services offerings with a product to help organisations overcome entity data shortcomings that could enable financial crime. The Palo Alto, California-based company said its Entity Resolution service enables clients to solve issues such as records duplication, poor data quality and data fragmentation. The company, which focuses…
Webinar Review: Harnessing the Wider Benefits of Data Identifiers
Almost three-quarters of capital markets participants are utilising data standards and identifiers beyond their immediate regulatory use cases, realising the huge benefits that ordered and consistent datasets can bring to an enterprise’s entire operations. The findings of an A-Team Group Data Management Insight poll showed that 40% of respondents said they are using the resources to a…
Recorded Webinar: Best practices for compliance with EU Market Abuse Regulation
EU Market Abuse Regulation (MAR) came into force in July 2016, rescinding the previous Market Abuse Directive and replacing it with a significantly extended scope of regulatory obligations. Eight years later, and amid constant change in capital markets regulation, technology and culture, financial institutions continue to struggle to stay on the right side of the…
Fenergo launches AI powered CLM with Amazon Bedrock
Fenergo recently launched its AI Powered Client Lifecycle Management (CLM) at Money2020 in Amsterdam. The new CLM solution leverages Amazon Bedrock to enhance operational efficiencies in onboarding, client and counterparty management, and regulatory compliance. This launch comes at a time when financial institutions are grappling with intensifying regulatory pressures and rising costs. Stella Clarke, Chief…
A-Team Group Announces Winners of RegTech Insight Awards Europe 2024
A-Team Group has announced the winners of its RegTech Insight Awards Europe 2024. The awards recognise both established providers and innovative newcomers providing RegTech solutions to capital market participants that significantly improve their ability to respond effectively to evolving and ever more complex regulatory requirements. The awards were announced on 23 May 2024. This year’s…
An Integrated Approach to Combating Financial Crime
Digital transformation in the capital markets sector has given rise to a dramatic increase in the volume of transactions and data, particularly in highly liquid markets. This increase coupled with complexities in cross-border and cross-product trading activity and innovations in financial assets (crypto, digital assets) has created a fertile ground for criminal exploitation. Financial crime…
Plenitude Acquires Contineo Financial Risk Solutions in Strategic Move
Plenitude Consulting has marked what it terms a pivotal moment in its journey with minority investor Global Capital Partners (GCP) by acquiring Contineo Financial Risk Solutions, a specialist Financial Crime Compliance (FCC) technical and advisory services provider. The acquisition is aimed at strengthening Plenitude’s position as a tech advisor and implementation services provider for AI-enabled…
Ex-BoFE Haldane’s Headache Amplifies Banking’s PEPplexity
By Rory Doyle, Head of Financial Crime Policy at Fenergo. Just when you thought the drama was over after the Nigel Farage-Coutts saga, along comes another high-profile figure to re-shine a spotlight on a problem that refuses to disappear. Andy Haldane, a former bigwig at the Bank of England, is the latest to be denied a…
FinScan Launches Sanctioned Securities Screening
FinScan, the Pittsburgh-based division of Innovative Systems, Inc. has released FinScan Securities adding sanctioned financial instrument screening to its AML and KYC solutions. Screening for sanctioned securities is an increasingly challenging requirement. Data identifying ultimate beneficial ownership is difficult to source and integrate and the number of securities and entities subject to sanctions continues to…