Best Anti-Money Laundering Technology Implementation goes to OCBC Bank

This bank’s AI-based platform is overhauling the way financial crime risks are managed.  

Covering KYC screening, anti-money laundering, detection of bad actors, trade-based money laundering, and investigations, the platform uses advanced technology such as real-time external data analysis and unsupervised learning. It uses 1,400 customer features to score the alerts and real-time external data to identify money laundering risks.  

This comprehensive solution has been deployed across multiple countries, resulting in a remarkable 30% reduction in AML costs, 60% faster KYC screening, 80% faster investigations, and significant savings in manpower costs.   

For its commitment to innovation and exceptional results in mitigating financial crime risks, the award for Best Anti-Money Laundering Technology Implementation goes to OCBC Bank.