AML

Analytics at Work in Detecting Insurance Fraud

With analytic techniques such as business rules, statistical models, and machine learning it can be difficult to understand the role of each approach in identifying fraud. Analytical techniques used in identifying fraud There are a variety of techniques that are used to detect fraud, many of which fall under the umbrella of business rules, statistical […]

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IDC ranks IBM #1 FinTech in Top 25 Enterprise category for fourth consecutive year

Based on its research and market analysis, IDC Financial Insights announced its annual FinTech Rankings 2020, recently, in two categories – The IDC FinTech Rankings Top 100 and Top 25 Enterprise. We’re proud to share that IBM is identified #1 FinTech in the Top 25 Enterprise category for the fourth consecutive year in the annual […]

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The importance of analytic insights for claims fraud prevention

149, 542, 782, 974 . . . what do those numbers mean to a claims handler or to an investigator? When analytics programs evaluate claims and/or other insurance objects such as policy holders, body shops, providers, etc., the analytics generate a score to reflect the level of risk of the evaluated objects. That score is […]

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Top 5 takeaways from the digital compliant client lifecycle journeys webinar

The pressure on financial institutions to become more efficient, comply with new regulations, and compete with novel technologies and entrants is growing. Financial firms are looking at uncertain conditions due to COVID-19, as well as related increases in financial crime and fraud. The IBM Customer Lifecycle Management (IBM CLM) with Fenergo solution is designed to […]

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Powering digital compliant client lifecycle journeys with artificial intelligence

Digital transformation trend is ramping up The COVID-19 pandemic outbreak, over the last few months, has significantly impacted financial institutions and organizations across the globe. The FIs have been propelled into a new world of managing and serving customers. Digital transformation is ramping up with an immediate requirement to provide digital remote account opening and […]

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How to stay ahead of insurance fraud in the new normal: 6 analytics techniques to monitor claims data changes

Introduction IBM has sponsored two virtual roundtable conversations where industry experts share views, examples and tips on the impact of COVID-19 on insurance fraud. If you haven’t seen them, you can catch the replays on demand at COVID-19: Responding to the threat of fraudulent claims and How can the Insurance Fraud Industry stay ahead of […]

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The role of technology as the backbone of AML and KYC processes

Technology has played a pivotal role in empowering the fight against money laundering, tax evasion and drug trafficking – all manner of financial crime. And even though the role of technology in fighting financial crime keeps growing we are actually just at the start of what’s going to be the next wave of technology. It […]

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IBM RegTech hosts risk and compliance thought leaders at virtual summit

The COVID-19 pandemic is one of those rare civilizational disruptions that is profoundly affecting nearly all human institutions. Organizations are scrambling to respond to threats to the health and safety of their stakeholders, and to grapple with new constraints and shifting realities in this crisis. While the human toll of the pandemic is unequivocally a […]

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FinTech explosion and faster payments drive faster financial crime in 2020 – how can banks respond?

Financial crime isn’t going away, rather it is growing Investment in financial crime prevention solutions for AML, fraud and insurance investigations has been mandated by regulators for decades. But despite the billions already spent, regulatory penalties continue to rise and fraudsters find new ways to steal. In attempts to keep up, financial crimes and fraud […]

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Are your compliance levels at floor or ceiling?

Study shows that RegTech delivers relief from burdensome manual processes – 90% of respondents use or are expanding use of RegTech. According to Forrester Research, RegTech – regulatory technology – is the fastest growing category they track. At $4.6 billion in funding, the year-over-year growth rate for the first three quarters of 2019 was 103%. […]

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Why shell companies are so risky (and hard to spot)

Shell companies and the hidden threat of entity risk While not inherently illegal, shell companies have been getting a lot attention recently for the role they play in illegal activity. This makes sense, as two of the legitimate uses of shell companies are the ability to shield owners from litigation and as a vehicle for […]

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