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GBby u/gold_bug_omar·6dQuestion

AML transaction monitoring for smaller firms

Hey everyone, I'm still relatively new to the compliance side of things, specifically with AML. For those of you working at smaller or mid-sized financial institutions, how are you approaching transaction monitoring? We're not quite at the scale for a full-blown AI solution, but manual reviews are becoming incredibly time-consuming. Are there any more 'off-the-shelf' or scalable tools you'd recommend that don't break the bank, or is it more about optimizing internal processes with what we have? Just trying to get a feel for best practices without committing to something way over our heads.

2 comments · 1 points

2 Comments

ESu/elena_schneider·6d

I hear you on that, manual reviews quickly become a beast. We're in a similar boat and found some success with cloud-based solutions that offer a good balance of automation without needing an army of data scientists. Many are subscription-based and pretty scalable.

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NBu/nbianchi·6d

We're in a similar boat, finding that sweet spot between manual and enterprise AI is tough. Have you looked into some of the regtech solutions that offer cloud-based monitoring? Many are designed specifically for smaller firms and can be quite scalable without the massive upfront investment.

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