Portugal Boosts Financial Crime Detection with Advanced Analytics Tools
Lisbon, Portugal - In an effort to combat financial crime and stay one step ahead of criminals’ tactics, Portugal’s financial institutions are increasingly relying on advanced analytics tools to detect and prevent money laundering and other financial crimes.
Oracle Financial Services Compliance Studio: A Cutting-Edge Solution
Oracle Financial Services Compliance Studio is a leading-edge application that has gained significant traction in the country. This innovative solution utilizes artificial intelligence (AI), machine learning, graph analytics, and data management to assist anti-money laundering (AML) teams in uncovering hidden relationships and patterns in large datasets.
Uncovering Hidden Relationships with Advanced Analytics
With Oracle’s advanced analytics tools, AML teams can combine internal and third-party data to gain a more comprehensive view of customers and entities. The platform’s Investigation Hub enables users to:
- Surface hidden relationships using graph visualizations
- Write case narratives with natural language processing
- Outsmart new criminal schemes by identifying emerging financial crime patterns
“We are committed to providing our customers with the most advanced analytics tools available to help them combat financial crime,” said [Name], Head of Oracle Financial Services Compliance Studio. “Our solution has already been successfully implemented in several countries around the world, and we believe it can have a significant impact on Portugal’s fight against financial crime.”
Real-Time Detection and Enhanced Entity Resolution
The tool’s ability to uncover previously hidden relationships in real-time has been particularly impressive, allowing AML teams to:
- Detect multihop relationships
- Identify hubs and spokes of activity
- Enhance detection by applying deep learning to find similar criminal networks
In addition to its advanced analytics capabilities, Oracle Financial Services Compliance Studio also offers preconfigured, extensible entity resolution that provides a single view of each customer and entity. This ensures global graphs are accurate and is fully integrated with other Oracle Financial Crime and Compliance Management applications, making it easy to use and scalable.
A Crucial Role in Combating Financial Crime
As Portugal continues to grapple with the challenges of financial crime, solutions like Oracle’s Advanced Analytics Tools will play a crucial role in helping the country stay ahead of criminals and protect its financial institutions.