Building a Resilient, Unified Risk Management Financial Crime Framework

Within risk management lies three crucial pillars of detecting and preventing financial crime: fraud prevention, KYC (know your customer), and ongoing monitoring. Because these three have typically been siloed in the past, having a 360-degree view of customer risk escapes some organizations from truly realizing the benefits of a much-needed unified approach.

Key Learnings:
- The data and technology challenge, solving for risk by integrating all three pillars in one unified solution.
- How both data and automation must be utilized for this convergence to occur
- What mitigation strategies work best once data within a multi-channel environment is acquired
- How machine learning and artificial intelligence should be incorporated to recognize behavioral patterns
- How the human factor plays a critical role in determining the underlying effectiveness of this unified financial crime strategy