Another day, another Deutsche bank scandal. Given Deutsche Bank’s questionable reputation, it’s almost too easy of a subject. However, this is a critical case. It’s an example of the pressure compliance officers sometimes have to face, when it comes to choosing between doing what’s right and conforming to groupthink. Let’s look at the facts. In […]
Being a banker isn’t easy. And it hasn’t been ever since the 2008 financial crisis. That year almost the entire world lost faith in the ethics and integrity of banks. Bankers were dubbed as greedy money grabbers. More than ten years have passed, the public opinion hasn’t changed much and banks are still suffering from […]
Globalization and automation make the call for real-time payment processing ever larger. The world moves fast. People have little patience and understanding for slow payment processing these days. Especially because this form of payment processing lightens liquidity stress for small and medium-sized businesses. And instant payments also increase efficiency, transparency, convenience, and financial control for […]
Transaction monitoring is a high-risk practice as it makes financial crimes such as money laundering hard to detect. That’s because it only concentrates on what’s happening at the transaction or account level. But, individual transactions hardly ever tell you the complete story, while client profiles provide a layered analysis of what’s happening. When we talk […]
Why it is just as hard as AML monitoring AML and sanctions are usually mentioned in the same breath. But while they are closely associated, they’re not the same. Admittedly, sanctioned entities could very well also be involved with money laundering, but this isn’t always necessarily the reason such entities appear on a sanctions list. […]
In their article “How to Beat Your Competition Using Analytics in Insurance”, UK based Insurance Nexus explains how insurance companies can use analytics to their advantage to become more cost-efficient, give clients individualized offers, enhance marketing targetting, and fight fraud. The article in itself is worth a read but doesn’t dive too deep into the […]
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