Our highly skilled and experienced AI-enabled Digital Workforce enables your organization to be more productive, with a better employee experience and improved customer satisfaction.
Our highly skilled and experienced AI-enabled Digital Workforce enables your organization to be more productive, with a better employee experience and improved customer satisfaction.
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Report
Technology Transformation in Financial Crime Compliance: Research Report
How are banks and non-banking financial institutions (NBFIs) adopting technology like AI and navigating the compliance and staffing challenges from the high volumes of alerts generated by their screening and detection systems?
WorkFusion partnered with Celent, the leading research and advisory firm focused on technology for financial institutions globally, to understand the workforce challenges facing compliance departments and the human, analytic, and technology levers they are pulling to address these issues.
This research report examines how these financial services organizations are improving workforce efficiency to manage risk and add value.
Some key findings:
86% of compliance, operations, risk and IT professionals at banks and NBFIs surveyed said they would increase spending on AI and machine learning over the next two years.
93% of respondents said that instead of using automation to reduce staff, they will focus that extra capacity on strategies to manage risk and grow the business.
Staff shortages and employee retention are perennial issues that create an unvirtuous cycle, leading to delays in compliance processes and limiting the ability of compliance departments to support the business with 74% unhappy with their current staffing level and 22% understaffed.
In this research report, you will learn::
How banks and NBFIs are navigating workforce and staffing issues
How AI is transforming financial crime compliance
The limitations of current tech systems
How organizations are improving efficiency in compliance
The key drivers for adopting Digital (virtual) Workers