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ACAMS 13th Annual AML & Financial Crime Conference

SP2 - "Out of Many, One": Fighting Financial Crime through a Single Customer View - Presented by PwC


Sep 29, 2014 3:00pm ‐ Sep 29, 2014 4:15pm


Description

Many financial institutions house their customer data on systems that lack integration across business divisions and geographical regions, which can hinder surveillance of suspicious activity. Furthermore, customers often hold multiple accounts within a single firm, and the information these separate accounts contain does not always match, effectively transforming single individuals into separate entities. A single customer view that reveals the hidden connections between disparate accounts can dramatically improve the efficiency and efficacy of an organization's AML/KYC platform. This session will address the following topics:

  • The practical challenges related to integrating customer data across fragmented systems within large, complex organizations
  • The ways companies are mining structured and unstructured data and employing advanced analytical techniques—including link, geospatial, temporal, and statistical analysis—to establish patterns and connections between records
  • The importance of establishing clear, standardized metrics that can support the dynamic visualization of customer behavior, and using those metrics to improve controls
  • How a single customer view program can provide a foundation for multiple compliance, risk, and business solutions (in addition to AML) and generate cost savings

Speaker(s):

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