We’re thrilled to have been recognised as a pioneering platform utilising artificial intelligence technology (AI) in Fintech Global’s annual AIFintech100 list for 2024: the premier showcase of powerful AI partners for financial services companies. This year may be the most vital time for Financial Institutions (FIs) to get to grips with AI. Not only is the understanding … Continued
Striking the right balance between providing a seamless customer onboarding experience and ensuring robust compliance measures can be a delicate endeavour. This article explores strategies and best practices for streamlining the KYC/CDD process that can enable businesses to navigate anti-money laundering (AML) regulations while still enhancing the overall customer experience. The Regulatory Landscape: Understanding KYC and CDD … Continued
We’re proud to announce that RelyComply has been included in the first edition of the FinCrimeTech50 list, founded by specialist research company FinTech Global. The list celebrates trend-setters and pioneering technology companies reinventing the anti-money laundering (AML) and fraud prevention space. The timing is perfect: an estimated 50% of financial institutions are searching for new solutions … Continued
Advancements in RegTech are having a crucial effect on financial services’ approach to achieving AML compliance. Automation processes can provide accurate real-time risk alerts and continuous KYC, reducing manual work and, more importantly, the threat of laundered money moving through the system. Fuelling this tech revolution is AI, whose generative functions are reshaping operational processes … Continued
Concerning anti-money laundering (AML), financial institutions face increasing pressure to stay ahead of sophisticated financial crime tactics and stringent regulatory requirements. Traditional periodic know-your-customer (KYC) reviews are no longer sufficient – customer information can become outdated quickly, leaving institutions vulnerable to financial crimes and non-compliance risks. Enter perpetual KYC (pKYC), also known as continuous KYC monitoring, a game-changing … Continued
We are pleased to announce the latest addition to our platform, goAML, the standard software application tool to support reporting capabilities for Financial Intelligence Units’ (FIU) anti-money laundering (AML) and countering terrorist financing (CFT) measures. With more than 60 member states worldwide using goAML – and counting! – we’re excited to join the global community in strengthening … Continued
In today’s increasingly regulated world, Know Your Customer (KYC) procedures are no longer optional for businesses. KYC involves initial and continuous identity verification to help prevent financial crime and safeguard your customer’s data and your business’s reputation. But navigating the complexities of KYC can be tricky, and even small mistakes can have significant consequences. This article examines … Continued
Staying compliant relies heavily on a financial company’s operational arm. Under the watchful eyes of regulatory bodies, it’s imperative to provide evidence for adequate anti-money laundering (AML) systems. This is not relatively easy if data is juggled between multiple platforms and people. And without an audit trail, potentially harmful criminal activity can slip out of … Continued
With digitalisation playing a significant part in our lives, it’s no different for modern AML compliance. However, regulatory technology (RegTech) cannot work best alone. Human ingenuity still plays its role in solving the problems that permeate financial services regarding money laundering, terrorist financing and other crimes; it’s calculated that around 99.8% of laundered money is still untraced, while … Continued
RelyComply, a leading provider of cutting-edge regulatory technology solutions, proudly announces its inclusion in this year’s prestigious RegTech100 list. Founded in 2020, James Saunders and Bradley Smith created RelyComply to safeguard financial firms struggling to implement proper anti-money laundering (AML) processes using existing technology providers. As money laundering techniques grew in complexity, so too did regulatory … Continued