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whitepaper: PAYMENTS

Download: 5 key AI AML considerations for payments firms./

Payments firms are feeling the pressure from both sides. They are balancing consumer expectations alongside the regulatory need for robust financial crime compliance. 

Artificial Intelligence (AI) is not just a trending topic, it is a tangible way for payment firms to meet the demands of the digital economy.

In this guide, we explore how to implement AI as part of a financial crime compliance process to ensure that organisations can move at the speed and scale of the real-time economy.  

The guide highlights 5 key buying considerations for payments organisations when looking to implement AI into their financial crime compliance strategy. 

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5 key AI AML considerations for payments firms

"When buying a solution, successfully integrating AI into your FCC requires sufficient education around AI systems to be able to understand their scope, particularly what’s possible, what isn’t and what they need to be able to operate at a high level."



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whitepaper: PAYMENTS

Understand where you are on the AI Curve...

...and start with your pain points; not technology.

  • Avoid AI for AI's sake

The majority of your early thinking should instead be dedicated to defining your risks and pain points

  • Not all false positives are bad detections

There’s a difference between a false positive and something that is high risk and needs to be investigated, but later turns out to be benign

  • The power of extreme usability

The best AI for FCC systems – the right systems – will bring all the relevant information together in one place for analysts

  • Expect explainability

Organisations should be looking for solutions with explainability built in

  • Run the rule over regional regulations

It is critical that any firm considering using AI understands the direction regulations are taking