Many financial institutions obtain, store and analyze data for different risk-related purposes in silos in separate parts of the institution. Innovative RegTech solutions that leverage data and analytics across these risk functions to enable a dynamic, holistic view of risk could enhance distinct AML/CFT, anti-fraud and general risk management activities, but face numerous potential barriers to adoption, such as data privacy and data localization requirements, bank secrecy regulations, tipping off provisions, and other legal protections. These issues become more complicated when dealing with data flows across borders, given differing (and sometimes conflicting) legal frameworks.
Partner Michael Dawson is a panelist in this webinar that explores the use of innovative technologies to overcome silos and analyze data across distinct risk-related activities and enterprise departments to strengthen all of an entity’s risk management activities. This session hopes to explain how new and emerging approaches to data and analytics can bring us closer to a future state where advanced analytics are streamed across separate databases or are applied to pooled data to develop holistic, real-time enterprise-level understanding of risks and enable dynamic customer due diligence/digital identity, AML compliance solutions, anti–fraud measures, and other risk mitigation measures.