Albany Beck’s Post

Our client, a leading European bank, embarked on a three-year financial crime transformation journey aiming for risk reduction and digitisation. Regulatory hurdles, acquisitions, and IT complexities had derailed the plan, leading to missed deadlines and a demoralised team. BeyondFS stepped in, restructured the plan, and introduced agile delivery, resulting in a streamlined and transparent path forward. #bankingtransformation #riskreduction #agiledelivery https://lnkd.in/dVeWiYFd

One critical measure performed as part of Enhanced Due Diligence (#EDD) when engaging with high-risk customers is understanding the customer’s financial profile. This involves determining the source of the customer’s funds and wealth. Generally, the source of funds and the source of wealth are perceived as the same, but this does not always hold true. #Funds indicate the amount involved in a particular transaction, while #wealth is the customer’s net worth accumulated over the period. The source of funds (#SoF) provides an idea of how the transaction is being funded, i.e., from where the money involved in the transaction would come from. In contrast, the source of wealth (#SoW) indicates the origin of the customer’s overall net worth and helps determine whether the proposed transactions align with the customer’s financial status. #AML #amlcft #KYC #customerriskprofile #beneficialowners #highrisk #mlftrisk #antimoneylaundering #antifinancialcrime #sourceoffunds #sourceofwealth #PEP #FATFGreylist

"Consistency is the key to long-term success! 💼📈 #InvestmentMantra: 'You don't need to check your portfolio regularly, you need to invest regularly.' Start today with Vasundhra Investment and watch your wealth grow over time! 💰 With the following services: ✔️ Video KYC onboarding ✔️ Instant transactions ✔️ 24x7 portfolio tracking ✔️ Top-rated funds ✔️ Risk profiling & goal estimation #VasundhraInvestment #SmartInvesting #FinancialFreedom #InvestSmart #WealthManagement"

clear and simple comparison

In the third part of our CLM series, Sam Gaunt, Managing Consultant at Delta Capita, provides an overview of the data integration challenges inherent in Financial Economic Crime and Client Lifecycle Management (CLM). Backed by insightful case studies, Sam explores the complexities posed by inconsistent identifiers, conflicting formats, and duplicate records encountered by clients within the financial services sector. Delta Capita specialises in revolutionising Fincrime compliance and CLM delivery by leveraging automation and efficiency. Read more here: https://okt.to/T4yQcN #DataChallenges #CLM #Regulation #Automation #Reinventing

What are the keys to client trust, engagement and retention? This will be explored by Ash Rajan of Merrill Lynch, Thomas Caruso CFP® of Morgan Stanley, Vanessa Fernandes and Nikhil Sharma of Capco in the first panel discussion after lunch. #GWTSUS24 #WealthTech #FinTech

https://lnkd.in/gqSwtDEH GCOR Chief Compliance Panel: Michael Abriatis- PNC, Sal Maiorana, CRCM, CAMS, CFE- KeyBank, Uylonda Cunningham, CRCM, CAMS, MBA- First Horizon Bank, Lisa Hershey- The Depository Trust & Clearing Corporation (DTCC) will discuss issues/concerns related to compliance risk management in the current environment including the role of compliance within a non-financial risk framework; the impact of heightened regulatory expectations; the pace of change and the role compliance plays in change management; and the implementation of enterprise rules such as the CFPB’s small business lending data collection and the CRA modernization rules. 

Listen to Martin Orbach, Vice President of Regulatory & Analytic Solutions for #SSNCRCI, discuss the latest #SSNCBlackDiamond compliance offering, Digital Message Surveillance. Learn about the importance of monitoring digital message communications between advisors and clients in the wealth management industry. https://lnkd.in/ef9SStb3 #fintech #wealthmanagement

Join our experts, as they prepare to discuss the world of: “Empowering Progress: RegTech, Compliance, and Innovation in Financial Services”. This panel will explore: 𝗧𝗵𝗲 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗹𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲: Is it a catalyst or a barrier to innovation? 𝗥𝗲𝗴𝗧𝗲𝗰𝗵 𝗿𝗲𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻: How is it transforming compliance and reducing regulatory weight? 𝗔𝗴𝗶𝗹𝗶𝘁𝘆 𝗶𝗻 𝗳𝗶𝗻𝗮𝗻𝗰𝗲: Strategies for adapting to the ever-evolving regulatory environment. 𝗖𝗿𝗼𝘀𝘀-𝗯𝗼𝗿𝗱𝗲𝗿 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Tackling the challenges and uncovering solutions for global financial entities. Our panels are the perfect opportunity to put yourself at the forefront of financial services innovation! Panel includes: Shân Millie, Founder, Bright Blue Hare | Philip Best, Chief Compliance Officer, Pemberton Asset Management | Niresh Rajah, Portfolio Chief Data Officer | Sarah Sinclair, Co-Founder, Change Gap | Ruth Anderson, the Chief Operating Officer, Lloyds Banking Group #financialservices #digitaltransformation #bankingindustry #fintech #compliance #regtech #digitalbanking #finance #bankingtransformationsummit #BTS2024