--- title: Addressing AML concerns description: AI, Artificial Intelligence, Transaction management, Fintech, Anti Money Laundering, AML, KYC, Know Your Customer, Compliance, Regulatory Compliance image: https://blog.pelican.ai/hubfs/images/Blog_-_Addressing_AML_Concerns_-_700x462.png --- ![](https://blog.pelican.ai/hubfs/Pelican_Sep2016_Theme/Pelican-new.png) Addressing AML concerns By Bill North | 13th October 2016 *![Blog_-_Addressing_AML_Concerns_-_700x462.png](https://blog.pelican.ai/hs-fs/hubfs/images/Blog_-_Addressing_AML_Concerns_-_700x462.png?width=550&name=Blog_-_Addressing_AML_Concerns_-_700x462.png "Blog_-_Addressing_AML_Concerns_-_700x462.png")* *Embracing technologies such as artificial intelligence can simplify the behind the scenes work in areas such as AML and KYC, automating vast portions of the process and helping to form part of a broader strategy of compliance. * Addressing AML concerns In the run up to Sibos, an interview on CNBC Europe with UBS Group CEO, Sergio Ermotti, discussing Anti-Money Laundering and Know Your Customer policies caught my attention. Covering AML and KYC, Sergio went to great lengths to describe his company’s policies as robust and trusted. Given recent issues at UBS, hearing this may be of comfort to regulators and concerned customers, but it seemed strange that a bank should concentrate so much on a service that for many is standard. Equally strange was that UBS should feel the need to ‘defend’ the bank’s AML and KYC capabilities, while only a minor part of the interview focused on the developing markets in Asia, which would surely be a preferred topic of conversation. So why is there a need to be so defensive? On the one hand, you could be forgiven for thinking that a CEO’s time is better spent focusing on innovation, or how they are going to take advantage of new business opportunities. On the other, it is good to hear that a CEO is concerned about the AML and KYC strategies in their firm – even if jolted to do so by a piece of bad publicity. Ensuring these policies are compliant and up to scratch is vital in the face of increasing regulation. In fact, it is ‘background’ pieces of work such as these policies that will matter for companies in established markets almost as much as exploratory work into new business fields. The potential for serious damage to be inflicted on a company by overlooking this essential work will only increase over time. The lesson from this interview was simple: the crucial work behind the scenes in areas such as AML and KYC cannot be ignored. A range of new technologies and talent can be brought to bear against this continuing issue, and embracing technologies such as artificial intelligence can simplify this, automating vast portions of the process and helping to form part of a broader strategy of compliance. Banking professionals should take heed – otherwise I suspect that Sergio Ermotti will not be the last bank CEO to speak about anti-money laundering strategies so publically.   ###### ** Share this article** - [Tweet](https://twitter.com/share) Related posts [Pelican reports 30 percent growth in 2016 as Intelligent Payment Management grabs industry interest](https://blog.pelican.ai/pelicanblog/pelican-reports-30-percent-growth-in-2016) [Edging ever closer to the abyss: why AI will reverse this trend](https://blog.pelican.ai/pelicanblog/edging-closer-to-abyss) [Don’t be that company](https://blog.pelican.ai/pelicanblog/dont-be-that-company) [What Artificial Intelligence is and how it works in the financial services industry - Part 3](https://blog.pelican.ai/pelicanblog/artificial-intelligence-part3) ### Recent Post ### Categories - [Artificial intelligence (11)](https://blog.pelican.ai/pelicanblog/topic/artificial-intelligence) - [fintech (10)](https://blog.pelican.ai/pelicanblog/topic/fintech) - [AI (9)](https://blog.pelican.ai/pelicanblog/topic/ai) - [Sanctions Compliance (8)](https://blog.pelican.ai/pelicanblog/topic/sanctions-compliance) - [Corporate Banking (7)](https://blog.pelican.ai/pelicanblog/topic/corporate-banking) - [Corporate Payments (6)](https://blog.pelican.ai/pelicanblog/topic/corporate-payments) - [Intelligent Payments Management (6)](https://blog.pelican.ai/pelicanblog/topic/intelligent-payments-management) - [IPM (5)](https://blog.pelican.ai/pelicanblog/topic/ipm) - [European payments (4)](https://blog.pelican.ai/pelicanblog/topic/european-payments) - [STP (4)](https://blog.pelican.ai/pelicanblog/topic/stp) - [legacy systems (4)](https://blog.pelican.ai/pelicanblog/topic/legacy-systems) - [tansaction banking (4)](https://blog.pelican.ai/pelicanblog/topic/tansaction-banking) - [Regulatory Compliance (3)](https://blog.pelican.ai/pelicanblog/topic/regulatory-compliance) - [Corporate Sanctions (2)](https://blog.pelican.ai/pelicanblog/topic/corporate-sanctions) - [OFAC (2)](https://blog.pelican.ai/pelicanblog/topic/ofac) - [Sanctions (2)](https://blog.pelican.ai/pelicanblog/topic/sanctions) - [Transaction banking (2)](https://blog.pelican.ai/pelicanblog/topic/transaction-banking) - [Compliance (1)](https://blog.pelican.ai/pelicanblog/topic/compliance) - [Payments (1)](https://blog.pelican.ai/pelicanblog/topic/payments) - [Same-Day ACH (1)](https://blog.pelican.ai/pelicanblog/topic/same-day-ach) - [financial technology (1)](https://blog.pelican.ai/pelicanblog/topic/financial-technology) [See all](https://blog.pelican.ai/pelicanblog/addressing-aml-concerns#) ### Archive - [September 2016 (17)](https://blog.pelican.ai/pelicanblog/archive/2016/09) - [October 2016 (3)](https://blog.pelican.ai/pelicanblog/archive/2016/10) - [November 2016 (1)](https://blog.pelican.ai/pelicanblog/archive/2016/11) - [March 2019 (1)](https://blog.pelican.ai/pelicanblog/archive/2019/03) # For more information, contact one of our advisers [** ](https://www.pelican.ai/Contact.aspx) ![](https://blog.pelican.ai/hubfs/Pelican_Sep2016_Theme/Pelican-white-Footer-1.png) Contact Us Europe: Tel: +44 208 947 7200 | Americas: Tel: +1 732 603 4990 | Asia: + 91 22 42453000 | Middle East: + 971 43132420 - [** ** ](https://twitter.com/pelican_ai) - [** ** ](https://www.linkedin.com/company/pelican.ai) [![](https://blog.pelican.ai/hs-fs/hubfs/Pelican_Aug2017_Theme/SWIFT%20Certified%20Application%20Treasury%20for%20Corporates%202017_web_200x48.jpg?width=200&height=48&name=SWIFT%20Certified%20Application%20Treasury%20for%20Corporates%202017_web_200x48.jpg)](https://www.swift.com/about-us/partner-programme/swift-certified-applications/swift-certified-applications-finder)     [![](https://blog.pelican.ai/hs-fs/hubfs/Pelican_Aug2017_Theme/SWIFT%20CertifiedApplication%20Cash%20Management%20for%20Corporates%202017_web_200x48.jpg?width=200&height=48&name=SWIFT%20CertifiedApplication%20Cash%20Management%20for%20Corporates%202017_web_200x48.jpg)](https://www.swift.com/about-us/partner-programme/swift-certified-applications/swift-certified-applications-finder)     [![Validate TRUSTe privacy certification](https://blog.pelican.ai/hs-fs/hubfs/Pelican_May2016_Theme/seal.png?width=100&height=32&name=seal.png)](https://privacy.truste.com/privacy-seal/ACE-Software-Solutions,-Inc-/validation?rid=85cc25a8-166e-4ddf-9f78-3e0da913ad4c) © 1995-2016 ACE Software Solutions Inc. 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