Regulators around the world have recently commented on the need for financial institutions to have a constructive dialogue with technology companies. The FCA in the UK and FinCEN in the US have commented on the need to embrace new technology to effectively manage financial crime risk.

In this session, we will discuss innovation and technology to manage financial crime risk. Specifically, we will discuss how new technology and innovation can help make financial crime risk management processes more efficient and more effective. Leveraging the latest technology in financial crime risk management solutions can reduce manual review requirements, minimize the occurrence of false positives and streamline the risk management and regulatory reporting process.

We will also discuss the regulatory focus for 2019 and the protective power of new technology and innovation strategies. We will look at the benefits of a holistic approach, and how payment-hub technology enables the management of all payment types on a single platform and promises better and faster risk analysis, faster settlement, with more efficacy in risk and monitoring programs.

Andrew Davies is Vice President of Global Market Strategy for the Financial Crime Risk Management business line at Fiserv. In this role, he works with Fiserv customers around the world to design and deploy effective risk management solutions to mitigate financial crime risks with particular focus on compliance, money laundering and fraud. He is also responsible for seeking new markets and applications for the company’s financial crime detection and prevention solutions.

Davies studied pure mathematics and computer science at the University of Wales. He is a Certified Anti-Money Laundering Specialist and has worked with customers in the Americas, Europe and Asia. He is a respected industry speaker and author having presented at SIBOS and ABA events and has contributed to articles in the American Banker and Credit Union Journal, among other publications.