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Insights on Governance, Risk and Compliance
Financial Crime
5 strategies to simplify complex data systems in financial crime risk operations
Managing financial crime risk operations is no easy task. Disconnected systems, inefficient processes, and outdated data workflows often hinder decision-making and growth. In this article, we outline five key strategies to streamline your data systems and empower your teams to work smarter.
Enhancing Risk Assessment with Elucidate's Real-Time Risk Scoring System in ISO 20022 Transactions
Banks
Enhancing Risk Assessment with Elucidate's Real-Time Risk Scoring System in ISO 20022 Transactions
In this article, we explore how Elucidate’s real-time risk scoring system leverages the ISO 20022 standard to bolster risk assessment in payment transactions. Discover how integrating comprehensive, ISO-compliant data can transform your approach to transaction risk analysis and enhance the accuracy of your data and risk operations.
Elucidate team
3
 min read
Pricing financial crime risk
Compliance
Pricing financial crime risk
The shift from manual to automated, data-driven risk assessment is expected to transform how banks manage and price financial crime risk, promoting fairer practices and stronger standards across the industry.
Elucidate team
 min read
What are the risks and limitations of the correspondent banking system?
Network management
What are the risks and limitations of the correspondent banking system?
In this article, we discuss the risks in correspondent banking and how to overcome these to benefit your bank and bolster correspondent relationships.
Elucidate team
8
 min read
Why a de-risking strategy increases your institution's risk
Compliance
Why a de-risking strategy increases your institution's risk
De-risking emerged as an unintended result of banks with limited alternatives to new regulations. Technology is the strongest ally to fix this.
Elucidate team
4
 min read
What the sanctions on Russia mean for financial institutions
Banks
What the sanctions on Russia mean for financial institutions
Announcing sanctions is one thing, ensuring that banks are putting them in place effectively is another challenge altogether. What can banks expect?
Elucidate team
6
 min read
What the Danske Bank scandal can teach us about financial crime risk management in correspondent banking
Financial Crime
What the Danske Bank scandal can teach us about financial crime risk management in correspondent banking
Danske Bank recently pleaded guilty to charges of money laundering. This scandal has significant implications for financial crime risk management.
Elucidate team
6
 min read
Unlocking the Power of the Network: Rethinking the Financial Crime Risk Framework
Financial Crime
Unlocking the Power of the Network: Rethinking the Financial Crime Risk Framework
The current framework for managing AML risk is underperforming despite the investments being made in terms of raw compliance spend.
Elucidate team
6
 min read
We found over thirty new or expanded tasks the EU AMLA will be asked to take on
Governance
We found over thirty new or expanded tasks the EU AMLA will be asked to take on
The new AMLA is facing a growing list of expectations. How could the private sector help strengthen standards in the EU?
Elucidate team
2
 min read
Five barriers to banking innovation and how to overcome them
Banks
Five barriers to banking innovation and how to overcome them
Whilst innovation is challenging, it is also very much needed. What is preventing financial institutions from embracing innovation fully?
Elucidate team
5
 min read
Trust and transparency for a fairer financial ecosystem in the MENA region
Financial Crime
Trust and transparency for a fairer financial ecosystem in the MENA region
Last month, our CEO Shane Riedel moderated a panel discussion at the 2nd MENA RegTech Virtual Executive Boardroom Conference.
Elucidate team
7
 min read
The Enterprise Wide Risk Assessment (EWRA): From ticking the box to an effective Zero Line of Defence
Regulators
The Enterprise Wide Risk Assessment (EWRA): From ticking the box to an effective Zero Line of Defence
Lithuania's Center of Excellence in Anti-Money Laundering invited our Head of Public Sector to address the topic of Enterprise Wide Risk Assessments.
Elucidate team
4
 min read
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