Napier’s Payments Pulse podcast series aims to connect trending fintech topics with financial crime compliance, equipping payments firms with the insights they need to disrupt financial crime.
In this pilot episode, we sat down with Dr Janet Bastiman, Napier’s Chief Data Scientist, winner of the 2023 Woman in Technology Banking Tech Award, Chair of the Royal Statistical Society’s Data Science and AI Section and member of FCA’s newly created Synthetic Data Expert Group, to discuss the risks and rewards associated with AI for financial institutions.
As payments firms navigate the ever-changing risk landscape, AI is at the forefront of reshaping financial crime compliance. It plays a dual role – both as a tool to combat financial crime and a potential facilitator.
Since the October 2023 AI Safety Summit, there is increased demand globally for a clear picture of how we should use AI to tackle financial crime.
In this podcast episode, we cover:
- How financial institutions ensure safety and trust when implementing AI for financial crime compliance
- How AI can transform productivity for financial crime compliance teams
- The potential risks of AI and how financial institutions can work with governments to mitigate them
- The diverse range of human skills needed to maintain AI-powered solutions
AI can play a dual role in both combatting and facilitating financial crime, so how can experts better utilise AI for good? Read more about the risks and rewards of AI in financial crime compliance.