U.S. banks face real challenges on the road to FRAML, from bringing siloed data together, to integrating real-time and batch processes, to making the business case to begin with. Yet new research reveals that 93% of U.S. mid-market banks are actively pursuing or planning to pursue convergence of their AML and fraud programs — driven by the promise of significant cost savings, improved detection accuracy and stronger regulatory alignment. In fact, 50% of banks that have already converged report savings of over $5 million. While the benefits are clear, the path to convergence is anything but simple. In fact, the term FRAML often oversimplifies what is a complex and layered transformation.

Learning Objectives

• Learning how AML/Fraud convergence is delivering cost savings, greater efficiency and improved risk detection and why most U.S. mid-market banks are merging the two.
• Identifying the most common challenges and blockers to overcome when converging fraud and AML.
• Exploring how technology can support convergence and what to look for when evaluating vendors.

Moderator

Shana Leyva, Head of Marketing, Americas Hawk

Speakers

Neil Katkov, Director, Risk Celent

Susan R. Shaffer, VP and BSA Officer CBI Bank and Trust

Bel Perez, Senior Product Owner, Fraud + FRAML Hawk