Conversations: Colin Camp,

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Course Duration: 25 minutes
Course Points: 25

On Fridays with Fintelekt this week, Colin Camp, Senior Director, Business Development and Sales, APAC of Pelican is in conversation with Shirish Pathak, Managing Director, Fintelekt Advisory Services on access to data, artificial intelligence and financial crime compliance.

According to Colin, the only way banks can get on top of their compliance issues now is to be smarter and use modern technology.

Financial institutions need not rip off their old technology for new, but to look at how AI solutions can be used to supplement and improve the existing applications and to make compliance more efficient by employing the new tools.

Among other issues in the conversation, Colin speaks of the challenges around Trade-Based Money Laundering and how it has risen the ladder of priorities of regulators and governments. However, it is linked with other issues such as trade-based terrorist financing, trade-based fraud, human and wildlife trafficking. To truly stamp out the issue, there is a need to facilitate the sharing of data.

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