Switching from a legacy Anti-Money Laundering (AML) transaction monitoring system to a modern platform is a complex project that requires careful planning. Below are key best practices to ensure a smooth transition, from initial planning to final cutover, with an example of how a modern solution can fit into this process. Plan Integration Early an...
21 August 2025 Fintech
European banks are bracing for a hit to their interest income as instant payments become mandatory across the EU. Under the new SEPA Instant Payments regulation, banks must process euro transfers within 10 seconds and operate 24/7/365. This means they can no longer rely on the traditional practice of holding customer funds overnight or over weeken...
19 August 2025 SEPA and European Payments
Effective AML compliance requires accurately screening for sanctions, politically exposed persons (PEPs), and adverse media. Two algorithms: Jaro-Winkler and Levenshtein, often come up in discussions about fuzzy matching. Knowing when and why to use each can significantly boost your AML screening effectiveness and operational efficiency. How Do Th...
14 August 2025 Fintech
SEPA and European Payments
Banking
Trends in Financial Services
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