Financial technology solutions provider NextAngles has announced the launch of compliance solutions aimed at financial institutions tackling new compliance demands.
The solutions suite includes Anti-Money Laundering (AML) Alert Investigation; Trade-Based Money Laundering (TBML); Alert Generation and Investigation; Know Your Customer (KYC); Financial Crimes Investigation and Liquidity Risk Management.
Intelligent solutionsDeveloped by experts in banking, artificial intelligence, technology solutions and regulation, the suite employs data analytics and cognitive computing to offer what the developers describe as a new ‘smart compliance’ approach.
NextAngles claims the software knows which regulations apply to a specific transaction and learns from data usage patterns.
The developers reckon the automation in their solutions will reduce compliance costs by at least one-third and allow users to adapt their compliance systems more quickly to adapt to regulatory changes.
Regulation and banking-specific knowledge models provide the artificial intelligence that drives the solution according to the developers.
Categories: Trade Based Financial crimes News