LexisNexis’ Post

When fighting financial crime, one of the most important factors to consider is ultimate beneficiary ownership, or UBO. But, collecting UBO data about your clients is not a ‘one-and-done’ activity. You must periodically update customers’ ownership data and monitor for changes. It could be a time-consuming process without our AI Digital Worker Darryl. His primary mission is to protect the organization from risky client relationships by collecting information and documentation to conduct due diligence on customer relationships. Click here to learn how he can help your compliance team scale without adding headcount: https://bit.ly/4g6ZtaE #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #ubo #CDD #AML

We’re bicoastal this week. While we’re looking forward to day 2 of ACAMS, we also have Global Regtech Summit NY tomorrow. Our subject matter experts will be at the Convene on West 46th street where they can explain how our AI is being used to reduce false positive alerts, lessen manual review times, and automate transaction monitoring investigations and KYC. Learn how you can put AI to work for your compliance operations team by stopping by our booth. #GRTSUS24 #compliance #ai #artificialintelligence #digitalworkers #futureofwork #regtech #aml #compliance #kyc

Fraud.net has the tools you need to ensure you maintain compliance and avoid regulatory fines, and the agility to turn compliance into a competitive advantage. Book a meeting today to learn more: https://buff.ly/3TiZf5Q #financialservices #fintech #fraudprevention #frauddetection #ai #machinelearning #compliance #noncompliance #fines #sec

Global financial crime compliance costs for financial institutions were more than $200 billion according to the 2023 LexisNexis Risk Solutions Study. With fraud growing, that number is expected to be even higher in 2024. On top of that, banks and non-banking financial institutions face staffing challenges in their compliance operations. What if your organization could achieve 3-5x ROI and break even in the first six months of deploying a new tool that would help ensure compliance, alleviate staffing challenges, and improve customer experience? With our AI Digital Worker Evelyn, you can. She works 24/7/365, which is a game changer for financial crime programs. Learn how AI Digital Workers are good for the bottom line and allow organizations to prove AI success with minimal risk by reading this blog: https://bit.ly/3QVnMN8 #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #fincrime

📢 Do you have a generative AI-enabled solution that you believe could address some of the challenges that financial regulators face, such as: 🟠 Data Analysis and Monitoring 🟠 Compliance Automation 🟠 Risk Assessment 🟠 Fraud Detection 🟠 Policy Development 🟠 Decision Support If so, we want to hear from you! Submit your solution today for consideration to be a part of our #NextGenAI Tech Showcase ➡ https://lnkd.in/e3Pwamys #technology #regtech #suptech #fintech #regulation #innovation

📢 Do you have a generative AI-enabled solution that you believe could address some of the challenges that financial regulators face, such as: 🟠 Data Analysis and Monitoring 🟠 Compliance Automation 🟠 Risk Assessment 🟠 Fraud Detection 🟠 Policy Development 🟠 Decision Support If so, we want to hear from you! Submit your solution today for consideration to be a part of our #NextGenAI Tech Showcase ➡ https://lnkd.in/e3Pwamys #technology #regtech #suptech #fintech #regulation #innovation

Staying ahead in financial crime compliance is an ongoing challenge for firms Plenitude's Tech Advisory and Data Services leverage AI-enabled solutions and data analytics to empower firms to enhance their FCC systems’ effectiveness, improve operational efficiency, and reduce compliance costs. Why Choose Plenitude?  ✅ Comprehensive FCC Technology Advisory: Health checks, effectiveness testing, and optimisation for your transaction monitoring, customer screening, and watchlist filtering systems  ✅ Regulatory Confidence: As an FCA Skilled Person, we provide robust support for regulatory reviews, technology upgrades, and assurance around meeting compliance requirements  ✅ Operational Efficiency: Reduce false positives, improve detection rates, and streamline your workflows—without increasing operational costs  ✅ Data-Driven Insights: Gain strategic insights through advanced data services that ensure your systems focus on genuine risks Download our full brochure to learn more: https://hubs.ly/Q02QWW3C0 #tech #ai #FCC #compliance 

Compliance officers are struggling. In fact, more than 60% say they’re stressed out. And rightfully so. They’re constantly trying to keep up with news laws and regulations and prevent compliance violations. There’s no room to fail. But there is room for help. Give them a break by hiring an AI Digital Worker to help them out. By automating most work associated with screening transaction sanctions alerts, technology like Tara protects your organization from processing payments by sanctioned organizations and individuals. Click here to get started with a demo: https://hubs.li/Q02mfmB90 #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #sanctions #AML

RegTech: Revolutionizing Regulatory Compliance In today's fast-paced financial world, staying compliant with ever-changing regulations is a major challenge. Enter RegTech - the game-changing intersection of regulation and technology. Key points about RegTech: 1. Market Growth: The global RegTech market is projected to reach $55.28 billion by 2025, growing at a CAGR of 52.8% (MarketsandMarkets). 2. Cost Reduction: RegTech solutions can reduce compliance costs by up to 50% for financial institutions (Deloitte). 3. AI and ML Integration: Advanced algorithms are enhancing risk assessment, fraud detection, and AML processes. 4. Real-time Compliance: RegTech enables continuous monitoring and reporting, moving away from periodic checks. 5. Data Management: Improved data quality and analytics lead to better decision-making and regulatory reporting. 6. Challenges: Data privacy concerns and integration with legacy systems remain hurdles. The future of RegTech looks promising, with potential applications beyond finance into healthcare, energy, and more. How do you see RegTech impacting your field? #RegTech #FinTech #Compliance #Innovation Thoughts? Let's discuss in the comments!

Exciting Opportunity for Vendors: Take part in our new KYC Data and Solutions Report 2024 We caught up with Philip Mackenzie, Research Principal at Chartis, to discuss our upcoming KYC Data and Solutions Report 2024. This year, we’re diving deep into the corporate data landscape—from how companies are incorporated in America to updates in Europe’s ultimate beneficial owner registries. On the solutions side, we’re spotlighting the innovative use of generative AI. Whether it's enhancing user assistance, summarizing vital information, or navigating the challenges AI presents in regulatory spaces, this report is set to offer pivotal insights. 🤖💡 Calling all KYC vendors! If you're at the forefront of technology and compliance, join us in shaping a report that’s pivotal to the future of KYC solutions. We're looking for solutions that are defining the edge of innovation and strategy. 📩 Get involved and make your mark: Contact us at ops@chartis-research.com to explore how you can contribute to this critical industry report. #KYC2024 #DataSolutions #FinTech #RegTech #GenerativeAI #ChartisResearch #kyc #data