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9/5/18 - Nikhil Aggarwal on Regtech

Promontory Director Nikhil Aggarwal was featured in an American Banker article on how regtech can help banks streamline operations and manage credit and financial crime risk.

“Banks have made steady progress in building out their compliance programs,” Aggarwal said. “Traditionally, these programs often have had stand-alone components that remain siloed. There is opportunity to build a more unified, integrated compliance program that allows us to better identify and manage linkages between different compliance risks such as money laundering, sanctions, fraud, and bribery and corruption.

“IBM’s regtech solutions, including components of Watson, seek to address thematic linkages in governance, risk and compliance, money laundering and financial crimes, surveillance and broader financial risk. The goal is to empower banks to manage risk by building out a more comprehensive mitigating control framework.”

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