Maintaining both effective and efficient AML programs has proven elusive for financial institutions due to a reliance on legacy technology solutions and a seemingly ever-increasing investigator case workload. The new technologies of data science, including artificial intelligence (AI) and machine learning, however, hold the key to helping institutions reduce regulatory risk, and improve the AML investigation process. This paper explains how transaction monitoring systems (TMS) can be enhanced with AI and machine learning to reduce risk and drive down AML costs.
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