As the financial crime landscape continues to evolve and regulatory expectations mount — fraud and BSA professionals face significant challenges to keep pace with alert volumes, reporting requirements and daunting compliance processes, while trying to keep ahead of illicit activity.
Encouraged by regulatory agencies, more and more financial institutions are turning to AI solutions to enhance detection capabilities and reduce costs in their fraud, CDD/EDD and BSA programs. By leveraging machine learning and robotic process automation (RPA) financial institutions can benefit from increased effectiveness and efficiency in financial crime management processes without compromising regulatory or compliance needs.
Join us for this presentation as we outline the benefits of AI for Financial Crime Management programs and discuss key considerations for your financial institution when evaluating processes and systems. We will also walk through use cases of AI, including machine learning and RPA, through a demonstration of Verafin’s Financial Crime Management solutions.
Highlights of this presentation will include:
- Review of Benefits of AI for Financial Crime Management
- False Positive Reduction with Machine Learning
- Task Automation with RPA
- Walkthrough of AI Use Cases in Verafin’s Financial Crime Management Programs:
- Improve Fraud Detection Capabilities
- Strengthen AML Transaction Monitoring
- Automate CDD/EDD and High-Risk Customer Management Workflows
- Increase Efficiency in Regulatory Reporting and Compliance Processes