Recent advances in technology and an increasing internal focus on efficiency and effectiveness present an opportunity for compliance professionals to yield significant organizational benefits. However, how can these advances be used in real-world situations, and how do they meet expectations of auditors and regulators?
In this webinar, Bci Miami, the largest Chilean bank operating in the U.S. and QuantaVerse, explore the role of technologies, such as AI and machine learning, in automating complex and human-led processes in AML programs. The webinar covered the following topics:
- The many possible opportunities available for automation (where AI makes sense, and where it doesn’t)
- How to apply recent innovations to your enterprise (e.g., what are machine learning and natural language processing and how can these techniques help your compliance department)
- Case studies of successful automation including what worked, what didn’t, and what the impact was
- How auditors and regulators view the advances in technology and how you can validate the results
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On the final day of the FIBA conference, QuantaVerse Founder and CEO, David McLaughlin, participated on the “Customer Profiling, Use of Innovative Technologies in Onboarding and Risk Assessment” panel. David Schwartz, President and CEO of FIBA, set up the panel discussion by emphasizing the importance and impact that innovative technologies have on risk assessment and the customer onboarding process.
CASE STUDY: AI-Powered Entity and Alert Adjudication Streamlines Financial Crime Investigation Processes
Based on these outcomes, the bank is moving QuantaVerse AI solutions into production. Moving forward, the bank will be better equipped to find hidden financial crime risk while automating 70 percent of its AML investigation processes, enabling investigators to focus their time and talents on the most complex cases.
Digital Transformation of AML Investigation Process Accelerated by COVID-19
Prior to the COVID-19 outbreak, the 2020 outlook was an encouraging one as the year was shaping up to be positive for many industries. At the mid-year point of 2020, the world has changed, and we continue to observe the pandemic’s impact on our communities, economy,...
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