Fraud & AML


Fraud & AML

We will be announcing our "call for submissions" for the 2022 awards program soon. Please check back later for more details! Thank you.

The winners of Aite Group’s Impact Innovation Awards for Fraud & AML are leading the industry by identifying and implementing new products, capabilities, and/or levels of automation and effectiveness that are bringing our industry one step closer to next-generation Fraud & AML initiatives. They are the financial institutions and vendors, regardless of size or region, that others will follow.

Categories for consideration under Fraud and AML:

1. Consumer User Experience (End User or Customer):
New products or initiatives delivering an improved, more seamless, or more tailored user experience and minimizing friction (such as eliminating extra steps or actions) while effectively mitigating risks for fraud, money laundering, and other financial crime. Examples can be improved UIs and look and feel, ease of use and navigation, and elevated automation.

2. Operational Efficiency (Internal User Experience, Governance, & Reporting):
New products or initiatives streamlining internal operational, governance, or oversight processes for the organization deploying the solution. Examples can include enhancing workflows, automation, dashboards, or reporting and minimizing initial or ongoing solution implementation, configuration, integration and/or enhancements.

3. Fraud/AML Risk Mitigation (Identification, Prevention, & Detection):
New products, initiatives, or services raising fraud and AML risk intelligence and delivering elevated and friction-right financial crime threat identification, assessment, prevention, detection, investigation, and reporting. Examples can include superior and more effective means in identifying emerging or unanticipated threats, preventing inappropriate access or first-party and third-party fraud, detecting suspicious real-time payment transactions, and complying with evolving AML and sanction regulatory requirements. 

 Requirements for Participation

  • Financial institutions or vendors can submit a nomination.
  • Nomination submissions must select the financial crime segment (i.e., Fraud or AML) and the category for consideration.
  • There are no restrictions in terms of size or location of financial institutions or vendors.
  • Nominated innovations must be in production and must have been implemented within the last two years (i.e., since May 1, 2019).
  • All nominees must be willing to allow Aite Group to publicly announce and describe their initiative should they win. [Note: A follow-up briefing may be requested by Aite Group to aptly develop the appropriate communications and reporting.]
  • All nominations should be as detailed and descriptive as possible to facilitate a complete understanding of the innovation and support a fair and objective evaluation. There are no character limits to any response within the nomination form.

Entry submissions must be received by June 11, 2021. The winners will be announced and honored at Aite Group's Fourth Annual Financial Crime Forum on September 14-15, 2021.


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