As more and more financial institutions (FIs) begin adopting AI and machine learning-based data into their programs, the most common question financial crime fighters ask is – “how can we best understand the findings?”.
A strong first step is learning how to best compound the massive amounts of data that you’ve compiled. Through a composite of the data gathered, FIs can compound risk factors alongside risk policies. This step alone allows a program to flag abnormal behavior, and prioritize the severity of the event to investigators, all in real time.
With the analytics successfully compounded, it’s vital for the FI to present the output of the data in a clear, concise way for the analyst to make a smart decision quickly. Even if the process itself is automated, having the data easily readable allows your program to efficiently handle decisions at any level of severity.continue reading »