Staying compliant has never been harder. Most financial institutions and corporations are under pressure to remain compliant with fewer resources. But regulatory compliance is more than a checklist, it is a foundation to build from. And unfortunately, it does not always prevent a finding by regulators or auditors.
As part of the Cyber Fraud and Risk Management suite, Bottomline's Compliance solution provides corporations and financial institutions with a simple and powerful offering to rapidly meet and exceed regulatory compliance requirements, while decreasing complexity and increasing detection. Bottomline offers a modular approach that will reduce the cost of compliance while increasing accuracy and productivity.
Part of Bottomline's Cyber Fraud and Risk Management platform, sophisticated compliance capabilities accelerate a bank's ability to meet regulatory and compliance requirements.
White PaperAML Systems and Controls: Friend and Foe
Financial crime compliance has witnessed a boom in recent years. The Anti-Money Laundering (AML) software industry is estimated to grow to $3.4 billion by 2027 (Ref: Reuters). But this is a drop in the ocean compared to the cost of non-compliance. Banks have been fined more than $320 billion due to market abuse since the financial crisis of 2008 (Ref: Bloomberg). It is estimated that financial crime is costing the global economy $3-5 trillion dollars per annum but only 1% of illegal gains are frozen or seized by the authorities (Ref: UNODC).
DatasheetCyber Fraud & Risk Management – Secure Payments for Digital Banking
CFRM Secure Payments for Digital Banking locks out payment fraud while maintaining a positive customer experience by factoring in the risk context for any payment account or transaction. It protects with continuous risk assessment of all customer interaction channels, while providing advanced analytics of user behavior and transaction flows, through advanced machine learning.
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