White paper

Why a hybrid approach to AML is building a digital advantage in private banking

10.25.2022 | SymphonyAI team

Maximizing the effectiveness of AML technology

Many private banks are at a crossroads when it comes to anti-money laundering (AML) efforts. While the majority have some form of AML technology in place, these solutions are often not sufficient to alleviate money laundering concerns. As a result, our data shows that many private banks are turning to AML technology vendors to try a new approach.

This white paper delves into the specific AML concerns and compliance technology challenges facing the private banking industry. From investigating sector-specific technology to building fresh, hybrid ways of working, we explore whether now is a turning point for private banks in their fight against money laundering. Our research includes insights from an independent global survey of approximately 500 financial compliance professionals, including directors/heads of compliance, risk management professionals, analysts, and money laundering risk officers working in private banking in the UK, USA, France, Germany, Australia, and Singapore.

Download our white paper now to learn more about the unique challenges facing the private banking sector and how you can better protect your institution against money laundering.

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