Regardless of a firm’s size, client or product focus, financial crime obligations must be met in every jurisdiction where a firm operates. All too often, this involves notoriously resource-intensive and cost inefficient processes.
As the industry reaches the next stage of maturity, and as is proven in many other operational areas of any financial institution, firms that embrace transformation and technology innovation can outperform their competition. There are significant opportunities to deploy products, automate and outsource processes across the compliance lifecycle, which ultimately improve financial crime risk mitigation and reduce cost.