Finextra: BAE Systems improves AML screening algorithm

According to one study by Celent, banks typically report between 50 and 65 per cent of their analysts’ time is spent doing low level tasks of data collection, cleaning, and aggregation. Some banks placed this figure at 80 per cent of an investigator’s time[1]. Reducing the volume of false alarms to be sorted by hand can dramatically improve the effectiveness of investigators.