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13 September 2018

How do you trust the machine? Minds made for reinventing financial services

Combating money laundering is a key challenge for the financial services industry. Current anti-money laundering (AML) compliance processes are dominated by high levels of manual, repetitive, data-intensive tasks that are inefficient and failing to disrupt money laundering activity. Given the low impact of current AML efforts combined with the increasing complexity of threats and growing volume of data to analyze, now is the time to explore the capabilities of artificial intelligence (AI). This technology has the potential to enable a step change in AML capability and provide a means to scale and adapt to the modern threat of money laundering. An EY article provides details.

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Document ID: 2018-6076

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