Tag: Symphony AI

In today’s evolving financial crime landscape, the insurance sector is facing increasing scrutiny. Long considered a low-risk area, both life and non-life insurance products are now being exploited for money laundering, sanctions evasion, and fraud.

AI is becoming essential in the fight against financial crime, but many financial institutions still rely on legacy systems that weren’t designed to support AI-driven tools. Successfully integrating AI requires a phased, strategic approach to avoid costly disruptions and ensure compliance.

FinTech Global recently spoke to a number of key industry players in the RegTech space to find out what trends they believe have stood out so far in 2024.