Business Reporter: How Technology Is the Only Answer to Tackling Financial Crime

Whilst completing the Know Your Customer (KYC) process is fundamental to security, the time-consuming nature of gathering and analysing data can be reduced significantly by AI. Experienced analysts will no longer be required to execute laborious manual tasks. Instead, AI and automation increases productivity and ultimately profitability – by 80 per cent. Whilst completing the Know Your Customer (KYC) process is fundamental to security, the time-consuming nature of gathering and analysing data...

Whilst completing the Know Your Customer (KYC) process is fundamental to security, the time-consuming nature of gathering and analysing data can be reduced significantly by AI. Experienced analysts will no longer be required to execute laborious manual tasks. Instead, AI and automation increases productivity and ultimately profitability – by 80 per cent.

The future of financial crime will become increasingly complex as criminals will innovate new ways to beat the system. Without technology to counter this, the cost of financial crime will only increase in time.

Read here to find out how Encompass' uses sophisticated technology to enhance financial security.

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