Name: Keeping Financial Institutions safe
Uploaded: 2021-11-24T17:10:48.969Z
Duration: 95.4

Keeping Financial Institutions safe.vtt

English

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First and foremost, I feel
like there needs to be a lot

{{00:00:39}}
more investment in technology.

{{00:00:43}}
And when it comes to technology for
fraud detection, prevention, financial

{{00:00:48}}
crimes, protection and prevention,
KYC, identity verification, a lot

{{00:00:53}}
of technology that we see today is a
byproduct of the industry growing, and

{{00:00:58}}
they are patching solutions together
to solve a lot of these questions.

{{00:01:02}}
There've been a lot of focused and
concentrated efforts from a perspective

{{00:01:08}}
of KYC and Tenley verification by a
lot of companies, including Stripe.

{{00:01:14}}
So I think that is one area
where we've seen a lot of

{{00:01:18}}
immediate, growth and development.

{{00:01:21}}
There are definitely areas like
conduction monitoring, sanction

{{00:01:24}}
screening, and other risk areas, which
need a lot more focus and attention.

First and foremost, I feel
like there needs to be a lot

And when it comes to technology for
fraud detection, prevention, financial

crimes, protection and prevention,
KYC, identity verification, a lot

of technology that we see today is a
byproduct of the industry growing, and

they are patching solutions together
to solve a lot of these questions.

There've been a lot of focused and
concentrated efforts from a perspective

of KYC and Tenley verification by a
lot of companies, including Stripe.

So I think that is one area
where we've seen a lot of

There are definitely areas like
conduction monitoring, sanction

screening, and other risk areas, which
need a lot more focus and attention.

Expert Insight

Financial institutions must be aware of all challenges and respond appropriately in these times of constant disruption and renewed crime regulations. 
Financial crime compliance is becoming a higher priority for regulators, with more and more formal regulatory examinations being imposed on financial institutions.
But what more needs to be done to keep financial institutions and their customers better protected? 

thumbnail_Jas Randhawa.jfif

xsmall_Jas Randhawa.jfif

Jas Randhawa.jfif

Jas Randhawa

Global Head of Financial Crime Compliance

In the face of rising regulatory demands, increasing cost pressures, and a legacy of inefficient technology and processes, financial institutions are failing to achieve their financial crime compliance requirements.
Randhawa describes the essential systems that could be employed for security and what will be important in the future.