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Intelligence-led analytics for anti-financial crime compliance
Journal of Financial Compliance,
7
(3),
202-221
(2024)
Abstract
Financial institutions are continually looking for novel ways to improve the effectiveness of their anti-financial crime controls. Increasingly, they are turning to analytics to do this by embedding analytics into their anti-financial crime processes. Historically, analytics was used to gather information and provide summarisation and insights to support assessment and optimisation of financial crime controls, but advanced analytics and machine learning solutions have transformed the way financial crime is detected and investigated. In particular, the use of ‘intelligence-led’ analytics can improve the effectiveness of an institution's anti-financial crime controls by guiding them with additional financial crime intelligence information delivered through analytics solutions.
Keywords: intelligence-led analytics; analytics; financial crime; compliance; financial crime analysis; anti-financial crime analytics; transaction monitoring; financial crime investigation; machine learning; network analytics; big data; cloud computing; artificial intelligence; generative AI
The full article is available to subscribers to the journal.
Author's Biography
Ashley Bostel is an expert in analytics, data science and technology for anti-financial crime. Since November 2021, he has been Head of Financial Crime Analytics at NatWest Group, a UK banking and financial services company that includes NatWest Bank, Royal Bank of Scotland (RBS), Ulster Bank, Coutts, Holt's Military Banking, Lombard and RBS International. Prior to joining NatWest Group, Ashley was a product manager at Nasdaq Market Technology, guiding the development of product offerings in the anti-financial crime space. Before working at Nasdaq, he was Vice President for Tuning and Optimization in Anti-Financial Crime at Deutsche Bank. Ashley has more than 20 years' experience in the field of anti-financial crime and has worked in several banking, consultancy and technology organisations in the UK and around the world, including stints at Accenture and Oracle. Ashley was formerly an academic and was a lecturer in Neural Systems at the University of Essex UK. He has also worked in analytical software development and deployment in telecoms, marketing and e-business. He holds a PhD in physics from King's College London.
