Building a Next Gen Compliance Program? Machine Learning is Key

The complexity and pervasiveness of financial crime continues to challenge compliance functions. Machine learning can significantly bolster the efficiency and effectiveness of the function when implemented correctly, yet many financial institutions have had limited success in deploying it. By choosing the right use cases, compliance functions can build small wins, while reducing risk and responding to evolving regulations.  At the recent ABA/ABA Financial Crimes Virtual Conference, our Tim Mueller and Société Générale's Jessica Li Guild, Ph.D., discussed:

• What program benefits financial institutions prioritize when implementing machine learning
• Top enterprise risks and pitfalls in adopting machine learning to fight financial crime, and
• How to prioritize machine learning use cases to maximize the efficiency and effectiveness of compliance programs