Building a business case to support investment in AML systems has never been easy. Boards of directors tend to view AML compliance as a cost to the business as opposed to investing in anti-fraud solutions which has a direct impact on the bottom line. However, there has been a marked increase in interest from executives following a number of high-profile breaches resulting in huge fines, considerable management time in dealing with the consequences, not to mention reputational damage.
While compliance can be viewed as a cost to the business, using manual processes or maintaining outdated systems can exacerbate this due to the vast amounts of time being spent on low value, repetitive tasks resulting in a lack of focus on the detection and prevention of financial crime.
Watch the on-demand version of our webinar that provided detailed guidance and covered issues such as:
- What does digital transformation look like in the AML space?
- What are some of the metrics people can use to build the business case for change?
- How are best in class companies utilising technology to improve their AML processes and capabilities?
- How do you develop a digital transformation plan and execute it confidently?
Request replay now!
Duration: 45 minutes
Panellists: Patrycja Wisniewska, COO, Blacksmith KYC, Ian Henderson, CEO Kyckr and Michael Harris, Financial Crime Consultant, FCC Consulting
