Advisory

AML continues to be a heightened area for supervisory attention and action. Evolving regulation and an increased regulatory focus is forcing financial institutions to Identify weaknesses in their existing AML process and find ways to demonstrate that they have the right processes and implementation models ingrained within the company.

In the absence of an independent industry benchmark to show how an organization compares to its industry peers in the area of AML compliance, this problem is further compounded. In addition, regulators have expanded their attention from just process compliance to encouraging companies to build a culture of compliance.

Fintelekt draws on its expertise to assist financial institutions:

• Develop an evolutionary roadmap to ensure and improve AML compliance
• Benchmark the effectiveness of currently deployed AML compliance processes with industry peers and regulatory standards
• Build an AML-aware culture across the organization

The AML Compliance Maturity Model can help to:

• Improve your institution’s regulatory assessment outcomes
• Objective analysis to support your discussion with regulators
• Demonstrate your commitment to regulators with respect to your institution’s proactive engagement in monitoring risks related to money laundering and terrorist financing.

Fintelekt is well positioned to assist technology and consulting firms that wish to assess the potential for their products or services in the insurance, banking and financial services industries across Asia.

The consulting brief could be across a wide spectrum, such as:

• understanding industry trends, market composition and macro dynamics;
• identifying user wants and needs within a specific industry sub-vertical and function;
• assistance in ideas related to building thought leadership with existing and prospective clients;
• information and analysis to support the alignment or positioning of product and service capabilities with respect to market requirements