Financial firms face the threat of money laundering—and they also face the challenge of complying with Anti-Money Laundering (AML) regulations. Responding to a rising regulatory burden, banks are investing more into their AML programs. But adding money and headcount may not be the best solution.
A trio of Accenture papers explores AML compliance, presenting a continuum of solutions financial firms can consider. These include:
Bringing in the bots to increase throughput and lower costs, as outlined in Operational Transformation of Anti-Money Laundering through Robotic Process Automation
Pushing the technology envelope to pursue Machine Learning, described in Leveraging Machine Learning within Anti-Money Laundering Transaction Monitoring
Taking steps to evolve the overall AML operating model, explored in Balancing Internal, External and Virtual Workforces: An Evolving Anti-Money Laundering Operating Model for 2020
What journey will your financial firm take to revise its AML compliance program?