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The Top Trends Shaping Anti–Money Laundering in 2020
AML regulations are getting tougher and more complex. This report from Forrester highlights the top trends in AML for know-your-customer and other operations and provides guidance on how to respond.
The need for speed and accuracy in online customer acquisition AML is only expanding. New markets are opening due while existing markets continue to shift online using new payment transaction types. Concurrently, both AML and fraud detection modalities are increasingly complex, requiring integration of multiple data sources.
An ever-expanding list of regulations responds to the ever-evolving sophistication of money launderers, leaving financial institutions to face an uphill battle for Know Your Customer, customer due diligence, watchlist management and screening responsibilities.
The need for speed and accuracy in online customer acquisition AML is only expanding. New markets are opening due while existing markets continue to shift online using new payment transaction types. Concurrently, both AML and fraud detection modalities are increasingly complex, requiring integration of multiple data sources.
An ever-expanding list of regulations responds to the ever-evolving sophistication of money launderers, leaving financial institutions to face an uphill battle for Know Your Customer (KYC), customer due diligence (CDD), watchlist management and screening responsibilities.
This report explores where industry trends (challenges) meet technology trends (solutions) right now. Just a few highlights include:
- RPA cuts costs and speeds up repetitive AML tasks, helping firms master compliance needs while improving efficiency across processes.
- The pandemic has increased the pace of online customer acquisition even as the resulting global economic downturn requires fast, frictionless and low-cost KYC and CDD operations.
This research is compatible with WorkFusion’s own experience with our customers. We have seen, in numerous implementations, that our solutions, which integrate RPA and AI with watchlist management systems, can
Download your complimentary copy of this report today to understand how your organization can position itself for the future of AML now.
