Artificial Intelligence and AML Optimization

Financial institutions are under increasing pressure to maximize the efficiencies of their organizations while addressing anti-money laundering (AML) process and procedures. Exacerbating that challenge is the need to meet increasing compliance requirements imposed by regulatory agencies with a workforce that has been disrupted by a global pandemic.

Bates Group's AML & Financial Crimes practice is proud to partner with Complidata, bringing our leading AML and financial crimes industry expertise together with Complidata’s Artificial Intelligence technology in a joint solution to assist financial institutions in tuning and optimizing their AML operations and regulatory compliance.

Our combined AML efforts target the following key areas: AML Transaction Monitoring, Trade Finance, KYC, Alert Risk Ranking, PEP & Sanctions screening, and AML Model Risk Management. We help financial institutions significantly increase efficiencies in their processes and procedures while reducing the percentages of false-positive alerts.

Based in Belgium, Complidata is a leader in the use of artificial intelligence to drive automation and optimization for improved regulatory compliance. Complidata pioneered the very first AML implementations in Europe, leading to involvement in more than 100 different projects in the last 20 years.

Under the partnership, Complidata provides:

• A.I.-based solutions for the automation and optimization of AML/KYC processes
• Machine learning solutions for alert triage optimization
• Supervised and unsupervised learning solutions for anomaly detection and customer segmentation
• Network analytics for entity resolution
• A.I.-based solutions for the digitization of paper trails as in Trade Finance and Corporate KYC
• Intelligent OSINT retrieval

Bates Group’s roster of experts possesses deep knowledge of AML and financial crimes, fraud investigations, forensic accounting, and third-party risk management, along with extensive experience in the bank, broker-dealer, and investment adviser fields.

Bates AML & Financial Crimes provides subject matter expertise with regards to:

• AML, financial crimes and sanctions
• Services in design, configuration, testing, tuning and optimization of AML, financial crimes and sanctions systems
• AML and sanctions system reviews and model validations; governance and oversight processes development, including policies and procedures
• AML and sanctions risk assessments
• AML and sanctions gap assessments and audits
• Regulatory response support; staffing support for AML backlogs and lookbacks

For more information on how our services will help fine-tune your AML operations, please contact:

Edward Longridge, Managing Director, Practice Leader, Bates AML & Financial Crimes at elongridge@batesgroup.com

Dennis Greenberg, Managing Director, Bates AML & Financial Crimes at dgreenberg@batesgroup.com