The AML of Tomorrow: Here Today

Financial institutions’ anti-money laundering alerts are soaring, but advanced technologies are helping to even the playing field, according to new Aite Group research.

Boston, July 12, 2018 — New payment types, increasing payments volume, rising regulatory expectations, and rapidly evolving financial crime are driving up the number of AML alerts. Advanced technologies such as machine learning, robotic process automation, and natural language processing and generation enhance detection and operational efficiency. Aite Group’s newest report, The AML of Tomorrow: Here Today, discusses the escalating AML threat environment and how advanced technologies are helping. While this is the AML of tomorrow, it is increasingly relevant today.

“The trifecta of increasing criminal sophistication, a steady increase in regulatory expectations, and under-resourced AML departments are bringing AML efforts to a breaking point,” explains Julie Conroy, research director at Aite Group. “As a result, financial services firms are beginning to embrace technologies such as machine learning, RPA, and natural language processing and generation,” she adds.

This latest report is based on Aite Group’s interviews of 42 executives from financial institutions, money transmitters, AML vendors, and two former regulators-turned-AML consultants from Q4 2017 to Q2 2018.

To request a press copy of this report or to speak with Julie Conroy about this topic, please contact us at [email protected].

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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