A Practical Guide to Deploying AI in AML & Sanctions Detection [SFF Highlights]

Friday, March 29, 2019

Artificial Intelligence (AI) exists mainly to replicate human intelligence.

Although AI cannot compare to an actual human brain just yet, it can be used to achieve operational excellence, supporting the 4 key foundations of AI: feature creation, transformation, classification, and monitoring.

Hear Brandon Daniels explain how to manage the design, deployment, and testing of AI in financial crime compliance under the existing regulatory and model risk regime - on the Sandbox stage.

AI, data analytics and robotics are all key components in banking compliance. As Special Advisor of MAS Financial Supervision Group Chua Kim Leng explains, “As criminals employ increasingly sophisticated means to launder money, financial institutions, intermediaries and gatekeepers must remain vigilant and take pre-emptive measures to combat such risks.”

Learn more about how to manage the design, deployment, and testing of AI in financial crime compliance under the existing regulatory and model risk regime.

Highlights:

Seeing the Random Forest through the Decision Trees - A Practical Guide to Deploying AI in AML & Sanctions Detection

How to Filter Through Vast Amounts of Data Efficiently

“There is no way for us to go through each [of the billions of transactions] thoroughly, the only way to scale this is through technology.” - Brandon Daniels

Understanding the Importance of Collaboration Between Humans and Machine

"Investment in artificial intelligence, understanding that people are a necessary component, and understanding that the data and the features that you need in order to make a decision, are all part of a puzzle that then can scale to billions of decisions." - Brandon Daniels

Benefits of FinTech

"The benefit of FinTech is that we are democratizing financial services. We are bringing cost-efficient and affordable financial services to the world. The last thing we want to do is to stifle that." - Brandon Daniels

 

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