Overview One of the biggest challenges for financial institutions in the modern era is to cost-effectively comply with anti-money laundering (AML), Know Your Customer (KYC) and similar regulations. Efficient compliance is a daunting goal, given the speed of transactions, the complexity of data and systems, and the ingenuity of those seeking to break the law without getting caught. Business challenge A large regional U.S. bank was under regulatory scrutiny, both for insufficient management of KYC requirements and for failing to report some suspicious activities that it should have caught but didn’t. Both problems hearkened back to the bank’s inability to accurately gauge the risk of an individual customer across accounts. The bank was taking an account-centric, rather than cu

Join for free to read