Regulatory Alerts2021-07-26
Added · Updated
Regtech Adoption Practice Guide Second Issue: Anti-Money Laundering/Counter-Financing of Terrorism
This publication provides guidance to Authorized Institutions on adopting Regtech solutions for the ongoing monitoring of customer relationships in Anti-Money Laundering and Counter-Financing of Terrorism contexts. It outlines common challenges in ongoing customer due diligence and transaction monitoring, such as manual workloads and rule-based limitations, and proposes digital solutions including integrated platforms, cognitive computing, and machine learning. The document details a conceptual framework for implementation and presents specific use cases involving machine learning-powered customer segmentation, cognitive computing research, and customer activity dashboards. It serves as informational support for banks to enhance risk management and compliance efficiency without endorsing specific vendors or solutions.
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