{"id":5006,"date":"2019-04-16T11:26:21","date_gmt":"2019-04-16T11:26:21","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=5006"},"modified":"2019-04-16T11:26:21","modified_gmt":"2019-04-16T11:26:21","slug":"tal-deploys-arctic-intelligence-aml-accelerate-solution","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/tal-deploys-arctic-intelligence-aml-accelerate-solution\/","title":{"rendered":"TAL deploys Arctic Intelligence AML Accelerate solution"},"content":{"rendered":"<p><strong>Australia-based Life insurance firm TAL has partnered with Arctic Intelligence to support its AML and risk assessment processes.<\/strong><\/p>\n<p>The insurer had been handling risk assessment and AML processes manually with subject matter experts using a spreadsheet, doing so with accordance with AUSTRAC guidance materials and the legislative requirements. This method presented no challenges, it said, but as it looks to move online it hopes to evolve current practices and improve periodic AML reviews.<\/p>\n<p>TAL also wanted to conduct money laundering and terrorism financing risk assessments in line with industry benchmarks and ensure a consistent process.<\/p>\n<p>To do this, the life insurer has implemented Arctic Intelligence\u2019s AML Accelerate solution which will give its employees the ability to access what they need digitally and streamline processes. The AML Accelerate solution leverages resources from AUSTRAC and industry working groups to keep a consistency with risk assessments.<\/p>\n<p>In addition to this, the RegTech solution automatically provides alerts and tracks and regulatory updates.<\/p>\n<p>TAL general manager risk Cameron Pelling said, \u201cArctic Intelligence is a logical, simple to use online resource ran by a team that are always helpful and informative.<\/p>\n<p>\u201cThe resource can assist organisations when developing and reviewing their policies and procedures to address financial crime risks, including money laundering. In turn, organisations can implement operational controls designed to comply with relevant laws and obligations and prevent financial crime activities.\u201d<\/p>\n<p>Arctic Intelligence develops audit, risk and compliance services to manage key aspects of financial crime compliance programs. Its cloud-based AML Accelerate solution conducts money laundering and terrorism financing risk assessments tailored to over 30 financial and non-financial sectors.<\/p>\n<p>Earlier in the month,\u00a0<a href=\"http:\/\/member.regtechanalyst.com\/arctic-intelligence-welcomes-unity-bank-as-its-latest-customer\/\">Arctic Intelligence welcomed Australia-based Unity Bank\u00a0<\/a>to its platform, supplying the financial institution with new AML and counter terrorism financing tools.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"highlight\">Copyright \u00a9 2019 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia-based Life insurance firm TAL has partnered with Arctic Intelligence to support its AML and risk assessment processes. The insurer had been handling risk assessment and AML processes manually with subject matter experts using a spreadsheet, doing so with accordance with AUSTRAC guidance materials and the legislative requirements. This method presented no challenges, it said,&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/fintech.global\/AIFinTechForum\/tal-deploys-arctic-intelligence-aml-accelerate-solution\/\" class=\"gdlr-info-font excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":10,"featured_media":5007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TAL deploys Arctic Intelligence AML Accelerate solution - AI in Financial Services Forum<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintech.global\/AIFinTechForum\/tal-deploys-arctic-intelligence-aml-accelerate-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TAL deploys Arctic Intelligence AML Accelerate solution - AI in Financial Services Forum\" \/>\n<meta property=\"og:description\" content=\"Australia-based Life insurance firm TAL has partnered with Arctic Intelligence to support its AML and risk assessment processes. The insurer had been handling risk assessment and AML processes manually with subject matter experts using a spreadsheet, doing so with accordance with AUSTRAC guidance materials and the legislative requirements. This method presented no challenges, it said,... 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The insurer had been handling risk assessment and AML processes manually with subject matter experts using a spreadsheet, doing so with accordance with AUSTRAC guidance materials and the legislative requirements. This method presented no challenges, it said,... 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