Out now: AML Transaction Monitoring Systems, 2023: Market and Vendor Landscape

Providers of anti-money laundering (AML) transaction monitoring systems have historically considered themselves agnostic with regard to financial institutions’ underlying risk strategies. Banks, meanwhile, have focused on compliance-centric approaches to detecting financial crime. In recent years, however, they have recognized that financial crime risk can manifest in other ways than just compliance and regulatory risk.

Financial institutions should be proactive in preparing for the convergence of risk assessment/intelligence and core transaction monitoring systems. They should evaluate their current AML transaction monitoring solutions and consider investing in new technologies that can help them to identify and mitigate risk more effectively.

This report explores these issues, as well as the evolving regulatory context, and considers what approaches firms should take to benefit most from the growing system convergence.