Welcome

Balancing act: Data-driven strategies for FinCrime prevention and compliance

Sponsored by SmartSearch
Tuesday 14 November 2023
1 Lombard St, London EC3V 9AA

Financial institutions in 2023 are facing increasing sophistication from criminals, while also having to stay on top of a dizzying array of regulatory requirements such as the EU Anti-Money Laundering Directives and Bank Secrecy Act in the US. These issues will only become more pronounced in the coming years, with a data-driven approach to tackling FinCrime emerging as the best solution for financial services.

At this FStech roundtable event industry peers will explore the dynamic landscape of financial crime detection and compliance, and examine the pivotal distinction between digitalisation and innovation. Attendees will also discuss the role of AI, the cloud and open banking, while considering wider cultural factors such as cross-border risk-based decision-making, corporate buy-in and local vs. global approaches to preventing and combatting FinCrime.


Topics for discussion

• What are the most significant challenges financial institutions face today in combating financial crime, and how can data-driven approaches address these challenges?

• How can digitalisation improve efficiency and reduce operational costs in FinCrime detection and prevention?

• How has the role of artificial intelligence, machine learning, and data analytics evolved in enhancing financial crime detection, and what are the emerging trends in this space?

• What strategies can financial institutions adopt to ensure their digitalisation efforts are aligned with their regulatory obligations, especially in an environment of evolving compliance standards?

• How can financial institutions effectively balance the need for customer convenience and seamless onboarding with robust FinCrime prevention measures, especially considering the regulatory requirements for customer identification and verification?

• What ethical considerations and data privacy principles should organisations keep in mind when implementing data-driven solutions for FinCrime detection and prevention?


Timings for the evening:

18:00 – 18:30        Welcome and refreshments
18:30 – 20:00        Introduction to fellow guests and roundtable discussion
20:00 – onwards    Complimentary three-course dinner and drinks

Brought to you by FStech