The power of AI and machine learning in financial services Refinitiv Perspectives

The rise of AI and machine learning in financial services is already driving major benefits across compliance and the customer experience. To realize the full potential, Sean Durkin, Head of Data Science at Barclays, tells us in our latest Expert Talk about the importance of being able to appreciate the "art of the possible". Best practice tells us that screening remains our best defense against corruption. However, Refinitiv's 2018 research into the true cost of financial crime highlights just how tough it is for often over-burdened compliance teams to pinpoint potential risk in the age of big data and global third-party networks. Such challenges can lead to gaps in compliance, which inadvertently allow financial crime to flourish.