Achieving Next-Generation AML: Overcoming Challenges for Smaller Financial Institutions

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
20 June 2019
Neil Katkov

For smaller financial institutions, cloud-based delivery of advanced solutions may provide the way forward to next-generation technology in AML compliance.

Key research questions

  • What limitations do smaller financial institutions have in sourcing AML technology?
  • What are the use cases for next-generation technologies in AML compliance?
  • What factors are supporting the adoption of next-generation technologies in AML compliance?

Abstract

Smaller banks have limited resources and budgets to support AML compliance.

Constraints on anti-money laundering budgets and resources perpetuate a divide in AML capabilities between large financial institutions and smaller firms. While large banks have typically invested in maintaining and upgrading powerful AML solutions and robust model development initiatives, firms with smaller teams have often relied on less sophisticated, older systems and vendor-supplied rules.

Subscription required

Access to this content requires a Celent research subscription.

Subscribers should sign in to access this research.

sign in or register to read more

Insight details

Industry or Business Focus
Operational Risk, Risk & Compliance
Insight Format
Reports
Geographic Focus
Asia-Pacific, EMEA, LATAM, North America