Tag: mckinsey

AI has shifted from hype to reality in financial crime prevention—and 2025 has made that clearer than ever. Across top industry events such as...

AI is transforming AML systems, redefining how financial institutions detect and prevent illicit transactions. With the United Nations estimating that up to $2tn is...

Biometrics are quickly becoming essential for financial institutions as passwords and one-time passcodes struggle against today’s advanced fraud tactics. Traditional authentication, once considered sufficient, is...

Diversity in financial services has transformed how individuals and businesses access capital. The once slow-moving world of traditional finance—where bank accounts required in-person visits—is...

As the discussion around AI agents continues to dominate the tech world, one thing remains stubbornly unclear—what exactly is an AI agent? For organisations...

Let’s acknowledge a crucial aspect from the outset – managing the Customer Lifecycle Management (CLM) journey has become an increasingly complex, costly, and challenging endeavor. This is a shared challenge across the financial sector, exacerbated by an era marked by continuous change.

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

ORX, a global association of operational risk professionals, has launched the world’s first industry-wide Controls Library for operational risk.