New Oracle AI-Powered Cloud Service Helps Banks Mitigate Anti-Money-Laundering Risks
Oracle News, Monday, April 8th, 2024
Oracle Financial Services Compliance Agent identifies and remediates vulnerabilities to lessen banks AML threats and improve evidence-based decisions to mitigate model risk
With $5.05 trillion expected to be laundered this year alone, banks are struggling to keep up with the cost and complexity of compliance. To help address this massive challenge, Oracle Financial Services today introduced Oracle Financial Services Compliance Agent. The AI-powered cloud service enables banks to run inexpensive, hypothetical scenario testing to adjust thresholds and controls to sort through transactions, identify nefarious activity, and meet compliance requirements more effectively.