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Credit Unions Seek Better AML Technology: Celent

A new report reveals financial institutions want more efficient anti-money laundering solutions.

By Roy Urrico | Updated on May 05, 2015

A new report from Boston-based research firm Celent looked at how continuously evolving regulations, coupled with recent instances of money laundering rule violations, have led to the need for better technology in managing AML operations.

In the report titled, “Emerging Solutions in Anti-Money Laundering Technology,” Celent discussed a number of innovative solutions in the AML/Know Your Customer (KYC) space. Faced with pressures from growing compliance requirements and the need to cut costs, financial institutions are seeking technology that increases efficiency and frees up resources, Celent said.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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