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Powering Next-Generation Compliance Through Advanced Analytics and AI

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OpenGov Asia is pleased to invite you to an exclusive Breakfast Insight that will look at how you can profit from your DX journey today as you brace yourselves for the challenges beyond.

Harnessing cutting edge technologies for real-time screening, reducing risks and false positives, safeguarding reputations and strengthening compliance
In today’s global economy, financial institutions face an ever-changing and increasingly complex regulatory environment. The current pandemic is highly likely to compound the situation, bringing yet-another consumer credit crisis and several high-profile compliance breakdowns after that.
With increased emphasis on consumer protection, the regulatory agencies are focused on institutions’ customer practices and regulatory compliance performance like never before.
Over the past few years, the volume of regulations has risen dramatically. Larger multinational banks have to comply with enormous complex national and international regulations that in some cases get even more complicated due to individual regulator’s discretion and judgment. Even local and smaller banks face the same dilemma.
Many regulations are broad and still evolving and yet, have stringent implementation guidelines mandated.
Moreover, compliance failure can result in litigation, financial penalties, regulatory constraints, and reputational damage that can strategically affect an organisation.
This points to four basic questions:
To meet increasing compliance expectations, financial institutions need to focus on building a well-structured compliance management model that can deal with evolving regulations, identify unknown risks, harness the benefits of technology and reduce the cost of compliance.

Enhancing AML Monitoring and Driving Operational Efficiency

Digital transformation and artificial intelligence are undeniably changing the Anti-Money Laundering landscape. The need to modernise AML processes, coupled with a regulatory push towards innovation, is driving financial institutions to enhance AML monitoring & drive operational efficiency.
The manual and semi-automated nature of current AML compliance efforts slow down processing timelines and impact business productivity.
The data is usually diverse and subpar. It’s common for systems to use only a subset of available data when generating alerts. Traditional transaction monitoring systems are unwieldy to maintain and rely on rules and thresholds that are easy for criminals to test and circumvent.
Investigation processes tend to be highly manual, from gathering the supporting data for a case to submitting a complete SAR (suspicious activity report). Meanwhile, the money launderers are working night and day to remain hidden, constantly engineering new ways to conceal the flow of funds.
Traditional anti-money laundering (AML) and combating the financing of terrorism (CFT) tools and tactics take longer and cost more than they should.
To fortify the defence, financial institutions need ways to:

Interested in getting the Agenda for this event?

Request a copy from our staff (opengov@opengovasia.com)

Who Should Attend

We will be discussing:


Meet Our 2020 Speackers

Ahmed Drissi
Anti-Money Laundering Lead – APAC
SAS

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Remco den Heijer
Vice President
SAS, ASEAN

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Mohit Sagar
Group Managing Director and Editor-in-Chief
OpenGov Asia

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Networking

Make valuable connections and meet peers and mentors in your industry. Share ideas with others in your field, meet your future business partner, or seek advice from people who’ve done it all before.

Learning

We live in uncertain times for tech and business. We’re welcoming the people who are tackling the big challenges facing industry today. In our current climate, upskilling has never been more important.

Exposure

Get exposed to first-hand knowledge and intelligence from subject matter experts across Asia Pacific to accelerate growth and progress.

The preparation that was put into this was fantastic. Great effort to follow up and cover all aspects on delegate needs

Armed Forces of the Philippines

The event was really great and I was able to get lots of insights. Hope to join again in future events

National Bureau of Investigation

This a whole new way of organising an event and making people come together to share their knowledge and insights are new to us, but you made it happen! Congrats OpenGov Team!

Department of Public Works and Highways

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