October 21, 2020

We are creating some awesome events for you. Kindly bear with us.

We are creating some awesome events for you. Kindly bear with us.

Powering Next-Generation Compliance Through Advanced Analytics and AI

A Platform For Collaboration

OpenGov Asia is pleased to invite you to an exclusive OpenGovLive! Virtual Breakfast Insight aimed at imparting knowledge on how financial institutions can apply real-world AI & analytics applications to ensure a world-class integrated banking system that contributes to improve customer experiences, enterprise profitability, manage risks, strengthen regulatory compliance, decrease the cost of compliance and create value from data.

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 litigationfinancial penaltiesregulatory constraints, and reputational damage that can strategically affect an organisation.

This points to questions:

  • Do financial institutions have what it takes, to enhance automation, enable real-time screening, reduce false positives, modernise financial crime analytics for stronger compliance?
  • With increasing regulatory scrutiny, are the compliance professionals equipped to future proof their organisations to address new threats while being mindful of the increasing cost of compliance?

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 immense volume of data that financial institutions are expected to comb through to meet regulatory requirements to detect and report suspicious activity becomes a daunting challenge.

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:

  • Automate tasks that formerly required human intervention, such as disposition of alerts
  • Detect more risk and effectively prioritise it with sophisticated analytics techniques
  • Provide richer context for investigations with access to more comprehensive insights
  • Enable real-time screening and monitoring to cut out financial crimes and prevent them from taking place in the first instance
  • Reduce false positives, become more efficient by automating anti-money laundering detection

Who Should Attend

Meet Our Distinguished Speakers

Viswanathan Namasivayam
Advisor - Data Science Enterprise Architecture Data and AI Group
UnionBank of the Philippines

Nutapone Apiluktoyanunt
Managing Director

Ahmed Drissi
Anti-Money Laundering Lead, APAC

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

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The session is interesting and insightful


Port Authority of Thailand


It’s a very insightful meeting and I am able to share some experiences


Ministry of Social Development and Human Security


Interesting topics are presented today, especially about how to get insights from large data. AI and ML provide a lot of benefits

National Intelligence Agency


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