What Expert Says On The Report: Almost A Quarter Of Firms Still Not Using Automated AML Checks
ByISBuzz Staff Editorial Team , Information Security Buzz | Nov 09, 2020 02:04 am PST
In response to reports that 21% of business decision-makers say they do not trust any of their anti-money laundering (AML) checks to be automated, an expert from Acuant offers perspective.
This research validates the importance of automated Anti Money Laundering checks in recent years. If your business is online, transaction speed is faster than a team of people can keep up with; automated solutions powered by AI are better at analyzing and acting on large amounts of data.
Every adoption cycle has a curve that includes early adopters, mainstream and the late adopters – the businesses that have yet to implement automation when it comes to AML checks are the late adopters in this case. When it comes to compliance software, the best solutions are solutions that are easy to deploy and adjust, and that don’t compromise other capabilities that do this as well.
This research validates the importance of automated Anti Money Laundering checks in recent years. If your business is online, transaction speed is faster than a team of people can keep up with; automated solutions powered by AI are better at analyzing and acting on large amounts of data.
Every adoption cycle has a curve that includes early adopters, mainstream and the late adopters – the businesses that have yet to implement automation when it comes to AML checks are the late adopters in this case. When it comes to compliance software, the best solutions are solutions that are easy to deploy and adjust, and that don’t compromise other capabilities that do this as well.