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RegTech: Systems of Insight to Guide Anti-Money Laundering (AML

On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a former Microsoft employee was sentenced to 18 months after pleading guilty to conspiracy to commit money laundering; a messy FBI sting involving money laundering came to light; and a report from the Financial Task Force (FATF) that looks at the techniques and tools used by professional money launders (PMLs) unveiled numerous new dangers.

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Topics: fintech, regtech, regulation, money laundering, mathematical models, risk management, financial risk

Should Community Banks and Credit Unions Worry About Blockchain?

 

There is more hype, discussion and disagreement about Blockchain than any other technology impacting financial services today.

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Topics: banking, banking regulation, bitcoin, fintech, regtech, community banking, blockchain

Fintech in 2017: Risk management takes center stage

A day in the life of the gentleman banker was once described by the 3-6-3 rule – accept deposits at three percent, loan money at six percent and tee off at the golf course at 3 p.m. The financial services industry can rightfully state that it has come a long way since then. It has implemented technological innovation and managed risk in a constantly changing economic environment over several decades. The gentleman banker has since evolved into a sophisticated financial risk manager who works within a complex framework of rules and regulations with tens of trillions of dollars of assets under management. 

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Topics: big data, banking, AML, fintech, regtech, regulation, machine learning, money laundering, risk management

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