Financial Crime World

Title: Oracle Bolsters AML, KYC, and Sanctions Compliance with Advanced Financial Crime Management Solutions

Oracle, a leading technology company, has announced the enhancement of its Financial Crime and Compliance Management solutions. This suite, which leverages artificial intelligence (AI) and machine learning (ML) technology, is designed to modernize and strengthen Anti-Money Laundering (AML), Know Your Customer (KYC), and sanctions compliance programs for businesses.

:Key Announcement: Oracle’s new offering bolsters organizations’ ability to manage financial crime risks effectively.

The Complexity of Financial Crime Landscape

Financial crime threats are becoming increasingly sophisticated, with ever-evolving regulatory requirements. In response, Oracle’s new AML and FinCrime suite aims to:

  • Strengthen AML, KYC, and sanctions compliance programs
  • Enhance regulatory reporting
  • Improve transaction monitoring
  • Streamline customer screening and onboarding

Capabilities of Oracle’s AML and FinCrime Suite

Oracle’s AML and FinCrime suite offers several features that enable businesses to tackle money laundering risks effectively:

Transaction Filtering

Oracle’s solutions can filter and analyze transactions based on various risk-scoring models and sanctions screening.

Customer Due Diligence

The suite also offers customer due diligence tools to help companies maintain robust KYC programs. Companies can:

  • Confirm clients’ identities
  • Assess potential risks

Artificial Intelligence and Machine Learning

The suite includes advanced AI for AML and KYC:

  • Analyzes vast amounts of data to identify complex patterns and trends
  • Improves organizations’ ability to uncover fraud cases and make data-driven decisions

:Quote: “Our advanced AML and FinCrime compliance solutions empower companies to effectively mitigate risk and adapt to regulatory requirements,” Muki Beteni, Group Vice President, and General Manager, Oracle EPM and Financial Crime and Compliance.

Availability

The Oracle Financial Crime and Compliance Management solution suite is now available for businesses globally, offering an essential component to their risk management and regulatory compliance strategies.