Fintech Nexus Newsletter (April 8, 2024): Oscilar Unveils AI-powered AML Risk Platform

Republished By Plato

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Anyway you slice it, we have not been doing a good job in stopping money laundering.

It is estimated that we only catch 1-2% of all illicit money flowing through the banking system. Yet as an industry, we spend many billions of dollars in this fight.

We need better tools.

Today, Oscilar unveiled a new platform to help with this fight. This AI-powered AML Risk Platform uses the latest technology to provide real-time detection, investigation and enhanced collaboration between banks and fintech companies.

It is built with the Banking-as-a-Service model in mind to bridge the gap between the stringent regulatory requirements of traditional banking and the rapid innovation of fintech.

The platform is already in production at both fintechs and banks today, with one compliance officer claiming it has “been a game changer for our compliance operations.”

We know the criminals are using the latest tools. We can only win this fight by staying on the cutting edge ourselves.

Featured

> Oscilar Unveils AI-Powered AML Risk Platform: Transforming Compliance for BaaS

oscilar.com

Discover how Oscilar’s AI-Driven AML Risk Platform revolutionizes compliance, offering fintechs and banks robust tools to combat financial crime effectively within the BaaS ecosystem.

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Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

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