Alternative frontiers in RegTech: Going Beyond AI

There is a persistent buzz in the sector about the financial crime potential of ‘new technologies’, but often, the discussion ends with AI and machine learning. Such innovations can improve the efficiency of regulated processes such as sanctions screening and transactions monitoring, but the potential for what new technologies can do to make AML/CFT and other financial crime processes more efficient - and crucially more effective - goes much further.

For example, open-source financial intelligence collection through advancing Natural Language Processing is having a significant impact on financial crime investigation, while Social Network Analysis (SNA) tools are being used to find hidden links in complex areas of potential risk such as sanctions evasion and Trade-Based Money Laundering (TBML). The creation of synthetic data to ‘mirror’ criminal patterns is also being used as a new way of testing the effectiveness of pre-existing platforms and controls. The panel will discuss these and other developments, taking us to alternative frontiers for financial crime RegTech.