Leveraging Emerging Tech to combat Financial Crimes

Emerging tech to combat financial crime

Leveraging Emerging Tech to combat Financial Crimes

With the world getting digitized so fast, it is the need of the hour to integrate emerging technology with the banking and finance 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 regulatory technology is helping the banks & financial institutions to fight against financial crimes. RegTech firms are leading the way by assisting these institutions to combat illicit activities and fund transfers by leveraging emerging technology. 

PiChain is one of the RegTech firms 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 On-boarding suite that includes VideoKYC, eKYC, AML Screening 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 using AML, AI, blockchain and digitized identification processes. 

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. 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 (AML), Know Your Business (KYB) and Regulatory Reporting to FATCA and CRS.

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

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