Financial institutions are striving to boost efficiency across anti-money laundering programs by automating processes. However, they are constrained by ineffective risk scoring. Oracle advocates a multi-dimensional risk scoring approach, and John Edison shares more as he discusses this view with financial crime specialists.
The European Union (EU) has launched a new Financial and Economic Crime Centre within Europol to tackle an expected surge in financial crime in the economic downturn triggered by the pandemic. This brings new challenges to financial institutions and their fraud detection/anti-money laundering programs. Oracle’s Michael Ficarro shares how financial institutions can succeed when resources are strained across their business.
Chartis Research recently named Oracle a Category Leader in its 2020 RiskTech Quadrant® for AML solutions and its 2020 RiskTech Quadrant® for KYC solutions. Oracle’s Jane Zimmerman shares her thoughts.
Oracle's Garima shares her views on how new anti-money laundering regulations demand significant compliance changes and how Banks can meet this requirement by realizing the central role of technology.
Oracle has launched the Financial Crime and Compliance Management Cloud Service, a suite of cloud-based anti-money laundering applications for midsized financial institutions. John Edison shares more.
Drug trafficking is a global problem—and despite decades of research, regulations, and enforcement, it remains a $400 billion global business. While financial institutions have invested heavily in innovative technology, they continue to miss a significant portion of drug trafficking activities. Oracle’s Garima Chaudhary shares her views on how advanced analytics can help.
In the United States alone, the cost of anti-money laundering (AML) compliance is estimated at $23.5 billion per year and growing. To counter cost pressure,–as well as growing pressures from regulators and customers–many banks have already begun their journey to creating next-generation anti-financial crime programs in the hopes of boosting effectiveness and efficiency. Oracle’s Garima shares her thoughts.
Anti-money laundering (AML) enforcement is critical as the European Commission announced its latest list of countries that pose risks due to shortfalls in anti-money laundering initiatives. How can African Banks strengthen their Anti-Money Laundering programs? Oracle’s Ganesh R shares more.