Presented by
Babel Street & Napier
The Consumer Duty: Ensuring Financial Resilience Through AI in Client Screening
About this talk
In the dynamic landscape of financial crime compliance, financial institutions face ongoing regulatory challenges. The Financial Conduct Authority (FCA) responded to this need by introducing the Consumer Duty, effective July 2023, to ensure accessibility of information for consumers regarding well-valued products and effective problem-solving support. Compliance must not only meet regulatory standards but also enhance resilience in the face of uncertainties that have affected high-profile institutions.
This webinar explores the implications of the Consumer Duty on financial institutions, particularly in client screening and customer due diligence. Against the backdrop of evolving global events and changing sanctions, the speed and accuracy of Know Your Customer (KYC) processes become paramount. The Consumer Duty is not just a regulatory requirement; it presents an opportunity for financial institutions to leverage emerging technology for the benefit of consumers, ultimately shaping the future standard in the industry.
View this fireside chat to learn more about:
• Navigating the consumer duty landscape
• Client screening in a dynamic world
• AI’s potential for risk-scoring systems
• The imperative of transparent AI
• Global implications of the Consumer Duty
Babel Street
830 subscribers7 talks
Know More. Risk Less.
Babel Street is the trusted technology partner for addressing identity and threat intelligence challenges. Our AI-powered ecosystem delivers advanced data and analytics solutions to close the Risk-Confidence Gap. We provide automation and multilingual tools that transform diverse data sources into actionable insights, helping organizations identify risks and connect crucial information about people and companies. Our versatile API-based solutions support critical use cases across sectors, including AML/KYC identity processes, border security, law enforcement investigations, competitive market analysis, supply chain integrity, and executive and event protection. Babel Street is headquartered in the U.S., with an established presence in Australia, Canada, Israel, Japan, and the U.K. For more information, visit babelstreet.com.