FCC

April 12, 2018

Another Anti-Money Laundering Fine: Time to Rethink the Process

By Farnaz Erfan

We continue to see vivid examples that demonstrate the importance of complying with anti-money laundering (AML) regulations – and the severe consequences that can transpire for failing to do so.

In unfortunate news, the seventh-largest bank in the United States was recently charged by federal authorities for neglecting AML rules. Federal prosecutors reached an agreement with the bank... Read More

February 15, 2018

How to Leverage Paxata for Timely Anti-Money Laundering Investigations

By Mike White

One of the biggest hurdles faced by many enterprises today is simply getting data ready for analytics and decision-making. Bringing together multi-structured datasets from diverse sources, profiling it, cleansing it, and shaping it are just a few of the challenging tasks that plague modern enterprises across all industries.

To illustrate this point, let’s take a look at the... Read More

November 2, 2017

How Disruptive Technology is Changing the Game in Financial Crimes Compliance

By Farnaz Erfan

In my previous blog post, we discussed the risks and limitations of current information management practices with respect to compliance reporting, as revealed by the findings from a recent benchmark study conducted by FIMA in partnership with Paxata.

Today I’d like to talk about disruptive technologies that enables financial institutions (FIs) to overcome these limitations.

A full two-third (67%) of... Read More

October 20, 2017

The Risks and Limitations of Current Information Management Practices in Financial Crimes Compliance Initiatives

By Farnaz Erfan

In my earlier blog post, I discussed some of the findings from a recent FIMA benchmark study regarding the current state of information management for financial institutions (FIs). The statistics showed that FIs continue to be burdened by compliance-related issues and remain highly dependent on IT departments to address them.

Today I’d like to talk about the shortcomings... Read More

October 9, 2017

Top Financial Services Priorities

The People, Practices and Processes Involved

By Farnaz Erfan

Paxata and FIMA (Financial Information Management Association) collaborated on a benchmark study examining the current state of information management and governance for financial institutions (FIs).

The research outlines an astounding view of compliance pressures and illustrates how the uncertainty of meeting future regulatory burdens are inducing FIs to invigorate their information practices.

While driving... Read More

July 28, 2017

The Unbelievable Truth About Financial Crimes Compliance Reporting

By Farnaz Erfan

While financial crimes compliance (FCC) has long been one of the central motivators for developing stronger data management practices, the intensity of regulations has increased over time, thereby elevating expectations for quality and speed in compliance reporting.

Meanwhile, perpetrators are not standing still. Rather, they are moving forward with new technologies to pursue their calling. In fact, fraud... Read More

July 17, 2017

7 Financial Services Initiatives Where Self-Service Data Prep is Vital

By: Farnaz Erfan

The ability to effectively and efficiently manage the vast and disparate range of corporate, customer and business information is rapidly emerging as a critical objective for financial services companies —regardless of their respective market and geographic focuses.

While data management has always been a critical component of financial services companies’ initiatives to better understand their customers, manage risks,... Read More

Try Now
Show Buttons
Hide Buttons