Anyway you slice it, we now have not been doing a very good job in stopping cash laundering.
It’s estimated that we solely catch 1-2% of all illicit cash flowing by means of the banking system. But as an trade, we spend many billions of {dollars} on this battle.
We want higher instruments.
At the moment, Oscilar unveiled a brand new platform to assist with this battle. This AI-powered AML Danger Platform makes use of the newest know-how to supply real-time detection, investigation and enhanced collaboration between banks and fintech firms.
It’s constructed with the Banking-as-a-Service mannequin in thoughts to bridge the hole between the stringent regulatory necessities of conventional banking and the fast innovation of fintech.
The platform is already in manufacturing at each fintechs and banks right now, with one compliance officer claiming it has “been a sport changer for our compliance operations.”
We all know the criminals are utilizing the newest instruments. We are able to solely win this battle by staying on the innovative ourselves.
Featured
> Oscilar Unveils AI-Powered AML Danger Platform: Reworking Compliance for BaaS
Uncover how Oscilar’s AI-Pushed AML Danger Platform revolutionizes compliance, providing fintechs and banks strong instruments to fight monetary crime successfully throughout the BaaS ecosystem.
From Fintech Nexus
> Pinwheel’s Energy of Primacy report exposes myths
By Tony Zerucha
Pinwheel’s Energy of Primacy report shatters some myths about defining primacy whereas providing a greater method ahead.
Podcast
Christina Riechers, Basic Supervisor of Sq. Banking on serving to small companies
Small companies have higher entry to monetary instruments than ever earlier than. Main the best way right here is Sq. Banking, an built-in…
Additionally Making Information
To sponsor our newsletters and attain 180,000 fintech lovers along with your message, contact us right here.
