Machine learning is revolutionizing banking compliance

Banks’ compliance departments are under increasing pressure: They face deeper scrutiny from authorities and must adhere to an increasing number of laws and regulations. Increasing criminal activity, cross border transactions and the complexity of dealing with huge quantities of data further adds to the challenges in dealing with the situation. A combination of automation and machine learning is an approach that can enable banks to meet these challenges successfully.

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What do financial institutions and insurance companies do with their birds of paradise?

The Paradise Papers have an influence on KYC checks in banks, financial institutions and insurance companies. Although the Paradise Papers are not officially recognized, more than just a few companies made the decision to check the KYC profiles of their customers for reputational reasons. Continue reading “What do financial institutions and insurance companies do with their birds of paradise?”

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