Tag: Risk management

Ensuring compliance with sanctions screening is pivotal in risk management for globally operating businesses.

Wealth management is not just about augmenting capital—it’s equally about safeguarding it. In an era where market fluctuations can be swift and severe, the essence of wealth management lies in its dual approach: growth and security. This balance is maintained through meticulous risk management strategies, which play a pivotal role in helping clients achieve their financial goals while minimizing potential risks.

In financial crime compliance, regulators have set expectations for financial institutions to conduct thorough assessments of name screening alerts.

As technology evolves, so does the network of bad actors who take advantage of it for illicit gains, leaving governments scrambling to modernise the way they regulate criminal activity.

FIS, a global leader in financial technology, has launched the Climate Risk Financial Modeler, a new SaaS risk offering designed to help businesses across all industries assess, reduce, and report their exposure to the physical risks of climate change.

Moody’s has launched a sanctioned securities screening capability aimed at enhancing investment decision-making workflows.

Culture, geography, politics, and media reporting all create challenges for name matching in a KYC or due diligence process, even when software is used...

Know Your Business (KYB) is a crucial process for verifying business entities during the onboarding phase, aimed at understanding risk factors, financial health, creditworthiness, and beneficial ownership.

The concept of third-party risk management is hardly a fledgling idea. However, as the world becomes ever-more digitised, cybersecurity threats are now looming larger than ever before. According to research from Soha Systems, more than 60% of data breaches can be traced back to third-party vendors. This means that an effective third-party risk management strategy is not just a luxury anymore - it is a necessity.

In the ever-evolving landscape of regulatory requirements, businesses are compelled to reassess how they manage compliance and conduct risks. A proactive approach is necessary, not only to understand the regulations but to anticipate their impacts on operations. Implementing a standardized methodology supported by AI allows businesses to prepare for regulatory changes effectively, ensuring compliance is both consistent and scalable.