Fighting FinCrime in financial services: optimising the balance between innovation and compliance

Sponsored by SmartSearch
Tuesday 26th March 2024
Searcys at The Gherkin, 30 St Mary Axe, London, EC3A 8EP

As financial crime grows increasingly sophisticated, financial institutions face mounting pressure to combat threats efficiently while adhering to expanding regulatory requirements and tightening budgets. This roundtable hosted by FStech and leading RegTech company SmartSearch will bring together leaders across financial services to discuss data-driven strategies for optimising financial crime prevention and compliance.

The roundtable will explore how financial institutions can leverage emerging technologies like artificial intelligence and machine learning to improve financial crime detection. Attendees will discuss strategies for balancing robust customer onboarding and due diligence with a smooth customer experience while examining the ethical implications of using customer data for compliance purposes and evaluating cost-effective ways to meet expanding regulatory requirements.

The evening will also examine how leading firms are turning to next-generation RegTech like automation and analytics to streamline know your customer (KYC), anti-money laundering (AML), and sanctions screening duties. Participants will discuss how leveraging data and technology strategically can increase compliance productivity and efficiency with cost in mind.

Attendees will gain insights into aligning compliance obligations and innovation through transformative technologies. The event will provide financial services professionals with actionable strategies to enhance their FinCrime and compliance approaches as budgets tighten with intelligent automation, advanced analytics, and strategic data utilisation.

Topics for discussion:

• What untapped data sources have the most potential for improving financial crime detection and how can they be better leveraged?
• New technologies like cloud, APIs, and open banking introduce opportunities but also risks. How do we collaboratively optimise these for crime prevention?
• With rising compliance costs and tightening IT budgets, how can institutions implement data-driven FinCrime solutions in a cost-effective manner? What strategies and technologies can optimise ROI?
• Streamlining onboarding without compromising compliance is tricky. What innovative approaches are you seeing or considering to achieve this balance?
• Is a truly frictionless customer onboarding experience compatible with rigorous financial crime prevention?
• For global institutions, is it better to centralise compliance or allow for localised flexibility? Could a decentralised approach undermine global coordination?
  
  

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

Brought to you by FStech