Insights
Insights
Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.
Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.
Fineksus to Showcase Cutting-Edge AML Technology at Agora Fintech 2024
Fineksus to Showcase Cutting-Edge AML Technology at Agora Fintech 2024 April 03, 2024 – Fineksus, a leading provider of innovative financial technology solutions, is excited to announce its participation in the upcoming Agora Fintech event, scheduled to take place from April 25th to April 27th, 2024. Hosted by Mobilefest in collaboration with [...]
What are the Fraud Trends in 2024?
What are the Fraud Trends in 2024? The financial landscape has been continuously evolving at an accelerating pace together with the increased globalization, interconnectedness, technological enhancements and digital solutions. This rapidly-developing trend brought about a rise in the new methods to exploit the system which helped financial criminals to find new ways [...]
What Is Watchlist Screening
What Is Watchlist Screening? Watchlist screening is a vital protective measure adopted by businesses to evaluate potential risks associated with individuals or entities they interact with. This methodical process entails cross-referencing against a consolidated "watchlist," containing information on individuals from high-risk countries, politically exposed persons, those in adverse media, money laundering offenders, and [...]
What is Cloud Technology in Anti Money Laundering
What is Cloud Technology in Anti Money Laundering? Money laundering poses a global threat to financial systems, with traditional Anti-Money Laundering methods struggling to keep pace with evolving techniques. Cloud computing emerges as a key solution, empowering financial institutions to enhance AML efforts through advanced analytics and machine learning. In this year 2024, [...]
What is Anti Money Laundering in Machine Learning
What is Anti Money Laundering in Machine Learning? The worldwide increase in money laundering and financial crimes has led banks to invest substantially in bolstering their defenses. Nevertheless, traditional approaches face difficulties in keeping up with the constantly changing tactics criminals employ. The recent advancements in machine learning (ML) offer a pivotal opportunity [...]
The Highest AML Fines of 2023
The Highest AML Fines of 2023 The ever-evolving nature of the financial world and regulations to keep up with the technological trends and new methods of financial crimes caused high levels of increase in the anti-money laundering (AML) related fines imposed on the financial institutions and other organizations from different industries. While [...]
Unleash Seamless Payments with CBPR+ Onboarding
Unleash Seamless Payments with CBPR+ Onboarding CBPR+ recommends standard specifications for financial institutions to adopt ISO 20022 message format. Implementing the CBPR+ specification requires the standards and recommendations that Swift specifies, including using the particular message types, data elements, and formatting norms established by ISO 20022. This guarantees that communications between financial institutions have [...]
What is the Difference Between Due Diligence and Enhanced Due Diligence
What is the Difference Between Due Diligence and Enhanced Due Diligence? Within the intricate domain of regulatory conformity, enterprises adhere to two fundamental processes – Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) – to assess and alleviate risks associated with their clientele. While CDD involves standard information gathering to evaluate business [...]
What is AI Powered Enchanced Due Diligence
What is AI Powered Enchanced Due Diligence? Embarking on the intricate journey of due diligence, the integration of artificial intelligence (AI) marks the dawn of a new era characterized by unparalleled efficiency and precision. In the contemporary landscape of business decision-making, grappling with the exponential growth of digital data, conventional manual review methods [...]
What is G20’s 2027 Vision for Cross Border Payments?
What is G20’s 2027 Vision for Cross Border Payments? Cross-border payments play a vital role in the seamless operation of the international economy, and their significance continues to rise as the world's economies become increasingly interlinked through digital means. These payments have been growing at a compound annual growth rate of 5%, [...]
