Emerging Tech’s Encouraging Promise: Fight Financial Crime in Real Time
The quick pace of financial services innovation has given consumers powerful new digital options, including faster access to their money. For financial institutions, real-time money movement introduces new risks and heightens the need for real-time fraud detection.
Global trends, new competitors and market demand push financial institutions toward an environment where they must identify money laundering and prevent fraud in real time. In addition, compliance costs and requirements continue to climb, making it even more important to rely on efficiencies gained from technology. Fortunately, the same underlying technology that delivers innovation to consumers can be leveraged to fight financial crime faster.
In this BAI Executive Report article, Andrew Davies, vice president, global market strategy, Financial Crime Risk Management at Fiserv, explores five emerging technologies that are helping meet AML challenges in a real-time environment.
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