AML Compliance Management System | Financial Crimes Technology | Regtech Solutions

Leveraging RegTech Solution to combat Financial Crimes

With the world getting digitized so fast and financial crime rate increasing, the need of financial fraud technology is increasing. Regtech solution which employs KYC compliance tech into the business operations and it helps to put robust checks. The AML compliance systems have completely transformed financial industry which otherwise majorly depends on manual work.

We are thankful to Anthony Muns from 8topod for having Shub, CEO of PiChain on their global podcast to discuss how financial fraud technology is helping the banks & financial institutions to fight against financial crimes. RegTech companies are leading the way by assisting these institutions to combat illicit activities and fund transfers via robust AML program. 

PiChain is one of the RegTech companies with the mission to make compliance sustainable. It is working on integrating technology in various mundane but necessary jobs in compliance. It has developed a full-fledged onboarding suite that includes VideoKYC, eKYC, AML Solution and E-Signatures approved by regulatory authorities. By using various technologies AI, Blockchain, it ensures real-time onboarding in less than 90 seconds. It assists Compliance and Regulatory Professionals to make better decisions by ensuring up to 93% reduction in False Positives.

The podcast discusses how RegTech firms like PiChain, are assisting to combat financial crimes and money laundering in banks. With AML regulatory technology, AI, blockchain and digitized identification processes, they are fulfilling BSA AML requirements with ease. 

As Shub said, the goal of PiChain is:

1) Increasing compliance confidence score

2) Reducing the cost of compliance

3) Repeating it YoY 

Along with the system in place, the firms need to update themselves with current happenings in the FinTech sector like changes in KYC compliance tech. Podcasts like 8topod engage with some of the thought leaders & innovators from various industries to understand the tactics, tools, and practices they are using to succeed. Anthony’s podcast helps many leaders & innovators to get the latest news, developments & trends within the finance and business spectrum. 

The podcast covers topics from Transaction Monitoring, Anti money laundering compliance, KYB/KYC AML policy and Regulatory Reporting to FATCA and CRS. It explains how the AML compliance systems help to counter economic crimes and different types of financial frauds. Increasing bank fraud types especially cyber financial crime is a great threat today.

Click below to listen to the interesting & insightful conversation on how PiChain is leveraging emerging technology to ensure sustainable compliance.

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