The risks of financial crime are ever present for financial services organisations. Changes in the market, enabled by new technology, have opened up growing opportunities for criminal activity. Market and technology developments have also augmented the scale and level of risk, while dramatically increasing the potential rewards to the more professional and well-organised of criminals.
At all levels penalties for failure have become ever more significant – share price, brand, dividends and long-term profitability can all be eroded.
Firms are having to analyse vast quantities of data at speed, making real time decisions on everything from customer suitability to whether a claim or transaction is fraudulent.
The right solutions, configured in the right way, with the right supporting teams, will enable organisations to:
- ensure regulatory compliance;
- reduce internal and external risk of fraud, AML, market abuse or unauthorised trading;
reduce operational costs;
- more effectively identify financial crime in all its forms; and
- provide a better customer experience.