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  5. So You Want to Buy an AML System: A Buyer's Guide to Financial Crime Compliance Technology

So You Want to Buy an AML System: A Buyer's Guide to Financial Crime Compliance Technology

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26 November 2024
Neil Katkov

What to look for when purchasing AI-enabled solutions to more effectively support KYC, sanctions, transaction monitoring, and case management.

Abstract

Efficiency in financial crime compliance is a hot-button issue. Banks are keen to make meaningful reductions in false positives and streamline alert investigation and case management. At the same time, a raft of new technologies are available through new and updated anti-money laundering (AML) solutions that banks are using to reduce costs and improve effectiveness.

Leveraging Celent's extensive research into financial crime compliance solutions, this buyer's guide to AML systems examines the key capabilities financial institutions should look for when purchasing modern, AI-enabled AML systems to more effectively support AML operations.

The report examines each link in the AML value chain:

  • KYC risk assessment
  • Sanctions screening
  • Transaction monitoring
  • Case management

We also consider the rapidly evolving capabilities of generative AI and the relative strengths of incumbent and regtech solution providers.

Client Access

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