WorkFusion Webinars

This year is only half over and according to the headlines, it’s already been a wild ride in the financial crime compliance industry. Multiple bank failures, cryptocurrency exchange failure/scandal, and the warp speed adoption of Artificial Intelligence (AI) have made this year busy for compliance officers.

The fear of entering a recession can drive companies and individuals to make decisions they normally would not. How can we as individuals and compliance officers brace ourselves and contribute to a stable economy? How can we, as compliance officers, balance the need for revenue and comply with the risk appetite in your firm?

In this session, panelists discuss these questions and more, including:

• A review of FinCrime compliance events that have happened thus far in 2023
• How AI is impacting our products, lives, and jobs
• How to utilize your FI’s risk management system

The fundamental blueprint for KYC has led to a substantial amount of labor with an incongruous mixture of mind-numbing routine review and the fear of the consequences of missing critical incidents. It has been stubbornly difficult to automate these tasks due to the high variability, unstructured information, research, outreach, and judgment – until now. Perpetual KYC (or pKYC) has been discussed for years. If done right, it has the potential to greatly improve on the status quo, with PwC estimating upwards of 60-80% cost savings, not to mention other benefits like fewer touchpoints, faster customer responses, and stronger employee experience. Join this session to learn:

• Why manual, periodic KYC is such a problem
• What it means to transition from a traditional, periodic KYC model to a perpetual, continuous, and dynamic approach to KYC driven by AI and automation
• How continuous monitoring can surface true risks that impact the business

To celebrate summer, we’re offering an opportunity to relax, learn and connect with your peers with WorkFusion’s Bonfire Talks Series. 
 
This program includes customer-driven webinars intended to educate in a relaxed format where speakers will share their automation and career journeys. Through use cases, stages, successes, and lessons learned, enjoy a candid conversation on what is and what’s next for WorkFusion customers. These webinars are meant to be engaging, fun, and informative so save your seat for the Customer Bonfire Talks Series today.

We’ve opened a new customer community. Register and join the conversation today!

Sanctions lists are constantly evolving, making them a challenge to keep up with. Failure to comply can mean large fines and reputational damage. Organizations have typically sought to meet sanctions compliance needs through incremental technological improvements (such as a new, better screening system), large increases in hiring and exiting high-risk business.  

Did you know that false-positive rates in the alerts generated by screening tools can exceed 99%? To combat this, banks directly employ or contract out dozens or hundreds of individuals to manually review these alerts. That’s a lot of people doing a lot of tedious work – which leads to the potential for human error in catching those rare true positives and overburdened teams.  

There is a better and more efficient way! 

Join us for a webinar where we’ll introduce you to WorkFusion’s AI Digital Workers, Evelyn and Tara. They are ready-to-hire automation solutions that work with leading sanctions screening software, dispositioning L1 alerts with greater efficiency and more comprehensive audit trails than teams of people. As banks minimize manual review of obvious sanction screening false positives using Digital Workers, highly trained resources can be reallocated to more pressing compliance needs. False positive reduction is as much about risk enhancement and governance as it is about cost. 

Adverse Media Monitoring, also known as Adverse Media Screening or Negative News Screening, is one of the most effective tools that banks and other financial institutions (FIs) have to protect their reputation and guard against money laundering and other financial crimes.

Traditional screening tools surface a vast number of news articles that end up being irrelevant, false positives that consume substantial amounts of analyst time — an unnecessary burden on employees and a large expense for the organization. Moreover, the cost of existing news screening tools can be staggeringly high.

Join us for this webinar where we’ll introduce you to WorkFusion’s AI Digital Worker, Evelyn. Evelyn’s AMM primary mission is to protect an organization from risky client relationships by reviewing both ad hoc adverse media results as well as alerts from adverse media screening applications. “She” automatically reviews and dispositions customer screening alerts for adverse media increasing team capacity and freeing up analysts to work on higher value projects – and saving you money in the process.