Credit unions seek better AML technology: Celent

by: Roy Urrico

A new report from Boston-based research firm Celent looked at how continuously evolving regulations, coupled with recent instances of money laundering rule violations, have led to the need for better technology in managing AML operations.

In the report titled, “Emerging Solutions in Anti-Money Laundering Technology,” Celent discussed a number of innovative solutions in the AML/Know Your Customer (KYC) space. Faced with pressures from growing compliance requirements and the need to cut costs, financial institutions are seeking technology that increases efficiency and frees up resources, Celent said.

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