A: Technology has inherently been both a challenge and an enabler for the identification and mitigation of financial crime compliance in financial institutions and corporations.

Now, with the advent of both data management systems and artificial intelligence (AI) that can replicate analysts' decision-making processes, technology is affording financial institutions and corporations three key opportunities....

A: The biggest change is that compliance practitioners need to be data and technology literate. There is a shift in what one is required to know and understand in terms of data literacy that will fundamentally change the compliance officer’s skillset and role.

A similar change happened 20 years ago in eDiscovery when lawyers became responsible for understanding what metadata was and how databases and communications systems work...

A: The challenge is the same as the opportunity.

There is so much information available in today’s financial services market and so many systems in marketing, relationship management and trade, it is hard to prioritize. The volume of data is a major challenge to tackle....