In the US, the cost of anti money laundering (“AML”) compliance is estimated at $23.5 billion per year. European banks come close with an estimated $20 billion spent annually. This spend goes towards technology, operational processes, people and legal / consulting costs.

Within the financial crime domain, fraud is a…

Managing ever evolving financial crime threats and meeting associated compliance requirements is operationally demanding and costly for financial institutions. Technology — including AI — has enhanced detection capabilities, reduced false positives and enhanced the productivity of staff supporting case investigations, Know Your Customer (KYC) processes and more. And end-to-end digital…

Leading financial services organizations have seen the value in curating an ecosystem of financial services delivered by themselves and selected partners that meet the niche requirements of their customers and increase customer relevance and revenue. This advance has been encouraged by the broad Open Banking momentum gaining traction around the…

For financial services firms, fraud is not just a cost and a regulatory concern: each false positive or false negative also represents a disruptive experience for the customer.

Unsurprisingly, enhancing fraud detection is an ongoing priority — and many firms have turned to advanced analytics and machine learning models to…

Authentication and security aimed at preventing account takeover, card fraud and more are often top of mind for financial services organizations — particularly with approaching deadlines for Secure Customer Authentication (SCA) in Europe. Approaches are often the result of a trade-off between customer experience and security that may be noticeable…

Loan default prediction and collections aren’t always showcased at the leading edge of digital transformation. Nevertheless, efficiency in these processes for lenders (or their service providers) has a direct impact on the bottom line. These capabilities wait to be tested when an economy softens.

Automation of case management, legal processes…

Payments mechanisms for individuals — for payments to merchants and between individuals — are evolving fast worldwide. Solutions are often difficult to differentiate in their execution, so it’s useful to compare their features from time to time. This article provides a basic primer on more common modern payment mechanisms and…

Rupert Nicolay

In my role at Microsoft I define blueprints for what our Services teams worldwide do to help our Financial Services customers achieve more. Views are my own.

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