Consortix Group

Day 3 of the #ACF2024 kicked off with the ‘Compliance Control Systems and Their Use In Financial Crime Risk Management’ panel. The sessions provided participants with information on the use of compliance systems in the management of financial crime. It sought to promote the use of compliance systems on the continent. Mrs. Hannane Ferdjani, Journalist, Founder of Beyond The Noise Africa, moderated the session, and panellists were Mr. Deacon Michel Kithos, Regional Director, Business Development for West & North Africa, Lexis Nexis and Mr. Tamas Svab, CAMS, CEO, Consortix. #Afreximbank #ACF2024 #GlobalAfrica #Compliance #AfCFTA

We recently hosted Christopher Ghenne, CAMS, Global Lead of Banking/Compliance Solutions at SAS Fraud & Security Intelligence, at Consortix's Budapest headquarters. His updates on SAS’s Financial Crime roadmap and vision keep us at the forefront of SAS's AML solution. Besides visiting Clients together with us, Chris also shared insights from SAS’s Innovate On Tour and his valuable experience in evolving Financial Crime technology. We greatly appreciate his ongoing support and expertise. Thank you, Chris! It was great having you here!

I had the pleasure of attending the #TransformFinance EMEA conference in Brussels, held in the heart of Europe. The event brought together executive-level participants from financial institutions, vendors, and authorities from around the world, fostering a vibrant atmosphere of collaboration and innovation in the fight against financial crime. One of the highlights of the conference was reconnecting with our esteemed partners from SAS, Louis Guilbaud and Mihai Gaicu. It was delightful to exchange ideas and discuss future collaborations with them, reinforcing our strong professional relationships and shared goals. The sessions at the conference were insightful and forward-thinking, particularly those focusing on the application of AI-enhanced risk-based approaches to mitigate financial crime. I was particularly pleased to hear that this approach is gaining widespread adoption, aligning perfectly with the strategies we implement in our own operations, thanks to the cutting-edge technology provided by SAS. Moreover, the discussions highlighted how AI is the perfect tool for False Positive Reduction. This capability is crucial in enhancing the efficiency and effectiveness of our financial crime detection processes, reducing unnecessary alerts and focusing resources on genuine threats. Overall, the conference was an enriching experience, filled with valuable networking opportunities and enlightening discussions on the latest trends and technologies in financial crime prevention. It was truly a rewarding experience to be part of such a prestigious gathering.

✈️🌍 In the last two weeks, I had the pleasure of attending SAS Innovate Events in Frankfurt and Milan, including 10+ executive and thematic meetings with #SAS, and #OTP Group delegation joining in Milan too. Here are my key takeaways: 🔍 AI Dominates Discussions: Customers have varying needs and levels of maturity in utilizing AI. SAS addresses this with a strategic tri-fold approach, offering 1) a robust platform for building and managing models, 2) business solutions embedded with logic and models, and 3) pre-built models that serve as accelerators. 🔗 Simplifying Tech Landscapes: Many customers are looking to streamline their technology stacks and reduce their vendor count. They seek strategic partnerships rather than mere transactional relationships. SAS supports this transition by providing integrated decisioning solutions, particularly by merging Risk and Fraud Management into a unified platform. This integration combines traditional methods with advanced AI to tackle both risk and fraud effectively. 🤝 The Power of Partnerships: A dedicated partner session highlighted the critical role of collaborations within the SAS ecosystem. Strong partnerships are essential for driving growth and bringing innovative solutions to customers. 💡 What's Next? To leverage the advancements in technology and AI effectively, we need to collaborate closely on customer goals and strategies, identifying use cases where we can make a significant impact quickly. The technology is here; the focus now is on implementation!