Machine learning innovations for fighting financial crime in an Open Banking era The Paypers

The fight against financial crime is changing and banks are struggling to keep up. Financial institutions are already losing ground in the adoption of open banking initiatives like PSD2. Coupled with the increasing market demands for compliance and transparency brought on by regulations like the GDPR, it's clear that banks have a lot to deal with. The financial industry is quickly shifting towards real-time payments and instant services, two key aspects of a frictionless customer experience. However, these frameworks present serious challenges to the security side of things – particularly where financial crime is concerned.