Tag: AI in Compliance

In the realm of AML protocols, Negative News Screening (Adverse Media Screening, AMS) stands as a critical frontline defence.

600 senior compliance leaders from financial services and fintech firms shared insights on AI adoption in financial crime prevention 91% of firms are...

Artificial intelligence (AI) is increasingly vital in transforming risk management within the financial industry.

Key German FinTech investment stats in 2024: German FinTech deal activity plunged by 63% YoY Average deal value more than doubled to $22.1m as...

The Financial Conduct Authority (FCA) has been actively working to promote safe and responsible AI adoption in the UK financial sector. Last year, it published its AI Update to encourage outcomes-focused AI models. To further this initiative, the FCA recently launched its AI Lab, a collaborative platform for firms, stakeholders, and regulators to discuss AI use cases, share insights, and foster innovation while ensuring compliance.

Key United States RegTech investment stats in 2024: US RegTech funding dropped by 28% in 2024 YoY Smaller deals (sub-$100m deals) dropped by 38%...

Ensuring accurate name matching is a fundamental aspect of regulatory compliance, particularly in areas like KYC (Know Your Customer) and AML (Anti-Money Laundering). However, screening names across different languages and scripts presents a significant challenge. To address these complexities, IMTF partnered with Babel Street to enhance precision in name matching and reduce compliance risks.

In today's evolving regulatory environment, financial institutions are increasingly turning to technology to manage their regulatory lifecycles effectively. According to Ascent, automation is becoming...

In a move to modernize AML/CFT frameworks, the U.S. Department of the Treasury's FinCEN has unveiled a proposal under the Anti-Money Laundering Act of 2020.

The landscape of financial crime compliance is rapidly transforming. Amidst political upheavals and technological advancements, the cost of compliance has become an integral part...