AML Hot Topics for 2020 Throughout 2019, new regulations were brought into force to enhance the scope of the AML compliance. In this ever-changing and demanding regulatory atmosphere, financial institutions, which are expected to adapt themselves and their systems to the needs of the evolving and competitive financial ecosystem, spent billions of dollars to [...]
Will China’s cashless society change the banking system? Asia's move towards a cashless society More than half of the world's millennials, who are getting more and more tech-savvy every day, are living in Asia. So, the technological improvements, high smartphone usage, and other structural aspects like demographics and urbanization coming together created a suitable [...]
Open API Framework in the Banking Landscape: Threat or Opportunity? To keep pace with the technological developments, to comply with the new regulations, and to remain competitive in the finance industry, banks must find digital partners to innovate and redefine their ways of working. The regulations started to demand the transition to a more [...]
Fineksus and Neterium partner for AI-driven AML For years, banks and regulated entities have been using solutions designed in the last decade, with low efficiency having a devastating effect on compliance costs, and only a marginal real impact on illegal activity. The current technology stack, including machine learning, standard APIs and cloud deployment, allows [...]
Compliance Day Istanbul 2019 Here you can find a brief summary of our Compliance Day Istanbul 2019 event. Compliance for Fintech After the opening speech, the first session started with our speakers: Tarik Tombul, Erdost Pehlivan, Ufuk Sinel and Fatma Atila. They discussed Fintech compliance. Tarik Tombul explained that the compliance process was introduced [...]
Cloud Adoption in Financial Messaging Services Why adopt the cloud? The fact that the financial services facing serious problems with the rise of digitalization and the new and different needs coming with it naturally drive them to find a solution to help them adapt to this new environment which is the cloud computing. Before [...]
Achieving Standardization in KYC (Know Your Customer) Compliance What is KYC? KYC (Knowing Your Customer) is the process that is designed to identify the clients of a business and evaluating their profiles for the compatibility to prevent any illegal transactions. KYC is commonly used in bank regulations for financial crimes and especially in anti-money [...]
How AI Impacts AML and KYC Compliance Anti-money laundering (AML) is one of the toughest issues in the financial industry today. Because the amount of money coming from criminal acts as terrorism and drug trafficking has reached nearly to $2.4 trillion per year. And this money will be laundered [...]
Ultimate Guide To Choose The Best Financial Messaging Solution Every business’ sustainability depends on the reliable and secure exchange of money. In this case, financial institutions stand as the gatekeepers as being responsible for providing transparency and security, especially during international transactions. This mission brings financial institutions a great challenge [...]
How AI Helps Banks On AML Compliance Anti-money laundering (AML) is defined as a set of regulations and procedures designed to prevent criminals from concealing illegally obtained funds as legal income. AML laws cover a relatively limited number of transactions and criminal acts with great indications. However today the [...]
