Unique Challenges, Best Practice Implementation & Recommendations

FinTech companies have AML compliance challenges that differ from those of traditional financial institutions. One of the main struggles is the lack of out-of-box solutions that could match their unique business models. To be compliant, they must adapt an existing off the shelf solution or create a brand new one – both options involving considerable cost and risk. Other challenges involve issues around scalability, budget constraints, lack of FinCrime domain and expertise and more.

During this workshop, Matrix-IFS will discuss the unique AML Compliance issues FinTech and offer cost-effective and scalable solutions.

Topics discussed:

• Risk Assessments/Model Validation
• Procedures, Policy & Controls Review
• The Soundness of Your AML Risk Coverage
• Bespoke Models & Custom Out-of-box Solutions
• Model Performance Evaluation
• Challenger Bank Use Case – “Compliance from Scratch”
• Panel Discussion with Heads of Compliance from Railsbank & CurrencyCloud