RegTech Insight Financial Crime The latest content from across the platform

Key Factors for Successful Implementation of Automation in KYC

By Nick Ford, Head of Alliances at encompass, and Matt Neill, Managing Director at Optechs. Since the financial crisis more than a decade ago, there has been a huge focus on Know Your Customer (KYC) and Anti-Money Laundering (AML) from global regulators, resulting in a stream of regulation as well as more than $23 billion…

Coinform to Investigate Ripple’s AML Compliance

US regtech start-up Coinfirm has signed an agreement with San Francisco-based Ripple, the company behind cryptocurrency XRP, to investigate the crypto’s compliance with AML regulations. The move comes in advance of a planned crackdown by US authorities on cryptocurrency exchanges, following an announcement by the Financial Action Task Force report in June of tighter regulation…

Capital Markets AML Gaps Need Plugging with RegTech, Says FCA

There are significant gaps in anti-money laundering (AML) defences within capital markets, according to a recent UK Financial Conduct Authority (FCA) thematic review, ‘Understanding the Money Laundering Risks in the Capital Markets’. Many of the issues raised by the regulator either relate to the way financial crime technology is deployed within capital markets, or how…

Technology Overtakes Regulation as Key Driver of Change in Compliance

Compliance and the role of the compliance officer has changed significantly over the past decade as a result of escalating regulation, technology development, an increasing focus on culture and conduct risk, and the ever closer relationship between compliance and the business. Automation has also come to the fore as compliance departments working with rising volumes…

Digital Reasoning Releases AI-Enabled Voice Analytics and Partnership with Corlytics

After four years of research and development, Nashville-based Digital Reasoning has released an AI-enabled voice analytics solution for financial services communications monitoring. It has also announced a partnership with regulatory risk tech company, Corlytics, to deliver one of the highest volumes of pre-trained models for monitoring available to the financial sector, according to the companies….

SimCorp Partners SIX on Sanctions Service

SimCorp and SIX have partnered to add the latter’s Sanctioned Securities Monitoring Service to the former’s Compliance Manager module of SimCorp Dimension. The aim is to give SimCorp users access to global sanctions data directly from SIX, allowing them to detect breaches against supported sanction regimes. The Sanctioned Securities Monitoring Service from SIX provides a…

Refinitiv Details Ongoing Commitment to KYC and Fighting Financial Crime

Refinitiv is back on track following its decision to withdraw its KYC as a Service offering with plans to focus on its World Check, Media Check, Extended Due Diligence and recent partnership with Trulioo on digital entity solutions to meet customer needs for Know your Customer (KYC), due diligence and third-party risk management. The company…

Fenergo Enters Taiwanese Market in Tie Up with TUNG-I

Fenergo has entered the Taiwanese market through a partnership with TUNG-I Information Services (TUNG-I), a provider of solutions powered by artificial intelligence (AI) in finance, information security, private cloud implementation and smart retail. As an exclusive client lifecycle management partner (CLM), Fenergo will provide TUNG-I’s current and prospective Taiwanese clients access to Know Your Customer…

Refinitiv Addresses Money Laundering through Partnership with Napier

With financial crime a key agenda issue at financial institutions, Refinitiv has partnered Napier, a provider of anti-money laundering (AML) and intelligent compliance software, to offer a next-generation transaction monitoring solution designed to help firms tackle money laundering and combat emerging threats of financial crime. The partnership offers Napier’s analytics, automation and artificial intelligence (AI),…

The Regulatory Landscape and Developments in Europe

By Rachel Woolley, Global AML Manager, Fenergo In the 10 years since the global financial crisis, regulatory frameworks around the world have been radically transformed. And although the aim of the overhaul was to improve the resilience of financial institutions and regain investor confidence, it has left many financial organisations grappling with an ever-increasing regulatory…