Balancing Efficiency and Effectiveness: Modernizing Financial Crime Compliance in Banking and Insurance

In today’s financial landscape, banks and insurance companies are increasingly focused on achieving greater efficiency without compromising effectiveness in combating financial crimes like sanctions evasion, AML and terrorism financing.

This session will delve into the evolving priorities within the financial services sector, particularly the shift towards cost reduction and streamlined operations in compliance efforts.

• Analyse how banks and insurance companies can reduce costs and staffing while maintaining effective financial crime prevention, with a focus on technology-driven solutions.

• Discover the importance of integrated processes, data quality, and regulatory education in building efficient, less siloed systems that comply with emerging regulations such as the EU AI Act (Regulation (EU) 2024/1689).