Evolve Bancorp, along with its subsidiary Evolve Bank & Trust, has recently found itself in the regulatory spotlight. The US Federal Reserve Board issued a directive that mandates significant corrective measures to address deficiencies in the bank’s risk management, anti-money laundering (AML), and
Fraud has been a persistent and evolving challenge for financial institutions. With the rise of digital banking and online transactions, the landscape of fraud has become more sophisticated, necessitating advanced solutions. Enter Artificial Intelligence (AI) and Machine Learning (ML), heralding a
The landscape of the Regulatory Technology (RegTech) sector is shifting, with experts predicting a surge to a $66.9 billion valuation by the year 2032. As financial institutions face this surging wave, the art of selecting the right RegTech partner is becoming increasingly crucial. More than just a
In the shadow of growing regulatory demands, financial institutions are tirelessly working to elevate their Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) frameworks, with a particular focus on enhancing client screening methods. These refinements are aimed at sharpening the
Amid the backdrop of an escalating battle against financial crime, an ingenious approach is taking shape within the corridors of international banking. Swift, the nerve center for global financial messaging, has rolled up its sleeves and stepped into the ring to combat a formidable
The global financial regulatory landscape is undergoing significant changes in 2024, influenced by key political shifts and technological innovations. With financial crime at the forefront of regulatory concerns, this article delves into emerging patterns and strategies within this fast-evolving
