AI and AML

Artificial intelligence and machine learning are revolutionising the compliance space. Want to see how? Read our guide below.

 

Upgrade your AML program with AI

AML is a massive topic despite how young it is compared to the rest of the financial system. AML regulations have only really existed since the early 1970s with the advent of the Banking Secrecy Act in the US and then the Anti-Money Laundering Directives in the EU impacting member states in 1994. 

It’s widely recognised that AML efforts have not been effective until now, with a less than 1% efficiency rate at capturing global money laundering activity. But that’s partially because AML has been hugely reliant on human-led data capture and processing. Now there are advanced artificial intelligence (AI) and machine learning (ML) opportunities that transform manual processes from multi-hour actions into instantaneous responses.  

AML extends far beyond banks and fintechs, it touches on crypto exchanges, law firms, estate agents, art dealers, and many others. All these businesses require insights into their customer transaction activities and should adopt a risk-based approach to compliance so that they can thrive when operating on a daily basis.  

Creating a thriving business in today’s economic climate means excelling while using regulatory demands to your advantage, rather than trying to replicate what others have done to succeed. Regulators are becoming stricter than ever and want to make sure that all regulated businesses are meeting their obligations without issue. Whether that’s SAR filing, creating an AML policy, or conducting day-to-day monitoring. All these aspects can be improved through AI technologies and Sentinels is showing the industry how to make it happen.  

 

Keep reading to find out more

AI/ML and AML are a match made in technological heaven. AI eliminates the need for rote data entry and takes internal AML program to the next level for any business. Find out how AI can extend the reach of your compliance process today by reading below. 

See the power of AI

The future is AI

Manual responses are no longer sufficient. Businesses need to adapt to new technology.

Transaction monitoring needs AI to handle the rapidly evolving landscape of financial crime.

Power up your process with AI

Report suspicious activity with ease

AI allows your business to file suspicious activity reports at pace. Don't get left behind by new technology solutions.

Improve transaction monitoring

AI allows your business to keep a close eye on customer transaction activity without retasking compliance officers.

Detect patterns more efficiently and uncover criminal activity that touches your business at speed. 

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