Fighting money laundering is a complicated task with substantial costs and risks, including—but not limited to—regulatory, reputational, and financial crime risks. Money laundering can be difficult to track, with many false alerts making detection even more challenging. But new technology, such as artificial intelligence (AI) and big data, can increase detection rates and keep your firm safe.
More than a static budget sheet in Excel, an AI financial planning program helps users set budgets and analyze their spending behavior. With a good ML program, company and personal budgets perform better—faster than via traditional methods.