WorkFusion Webinars

Technology is no longer just IT’s responsibility. Technology now drives innovation, transformation and productivity within the business. With most banks now either using or exploring AI, the key to fully leveraging AI’s power effectively lies in its successful integration with people, process, and technology. How can IT and business come together to select the right technology to drive improvements in productivity and ensure that compliance departments can better manage risk and add value to the business?

Join us for this webinar to learn:

• How to drive alignment between the business and technology sides of the house
• Best practices and common pitfalls for integrating and deploying new technologies
• Why AI is not just beneficial, but essential for the future of financial crime compliance

Financial crime continues to soar. In 2022, Suspicious Activity Reports (SARs) increased 57% from pre-pandemic and the number is only expected to rise this year. Additionally, Interpol listed money laundering as the number one crime threat in its first-ever Global Crime Trend.

From the pandemic to the dramatic increase in sanctions to bad actors getting more sophisticated – financial crime-fighting has changed so much in a short period of time. The roles, processes, and technologies used to combat financial criminals have also evolved. Even the attitudes of regulators have changed in recent years. But where is it all headed and what can we learn from the past?

Join us for this expert panel of powerhouse women in FinCrime as they discuss the evolution of fighting financial crime – and what comes next:

• How FinCrime has changed and where it is going
• What new tools and techniques are being used
• Advice and lessons learned throughout their careers
• How AI is being used to innovate compliance operations

This year is only half over and according to the headlines, it’s already been a wild ride in the financial crime compliance industry. Multiple bank failures, cryptocurrency exchange failure/scandal, and the warp speed adoption of Artificial Intelligence (AI) have made this year busy for compliance officers.

The fear of entering a recession can drive companies and individuals to make decisions they normally would not. How can we as individuals and compliance officers brace ourselves and contribute to a stable economy? How can we, as compliance officers, balance the need for revenue and comply with the risk appetite in your firm?

In this session, panelists discuss these questions and more, including:

• A review of FinCrime compliance events that have happened thus far in 2023
• How AI is impacting our products, lives, and jobs
• How to utilize your FI’s risk management system

The fundamental blueprint for KYC has led to a substantial amount of labor with an incongruous mixture of mind-numbing routine review and the fear of the consequences of missing critical incidents. It has been stubbornly difficult to automate these tasks due to the high variability, unstructured information, research, outreach, and judgment – until now. Perpetual KYC (or pKYC) has been discussed for years. If done right, it has the potential to greatly improve on the status quo, with PwC estimating upwards of 60-80% cost savings, not to mention other benefits like fewer touchpoints, faster customer responses, and stronger employee experience. Join this session to learn:

• Why manual, periodic KYC is such a problem
• What it means to transition from a traditional, periodic KYC model to a perpetual, continuous, and dynamic approach to KYC driven by AI and automation
• How continuous monitoring can surface true risks that impact the business