Correspondent banking is a vital system that helps to connect smaller and underdeveloped communities to the world’s financial ecosystem. In the last decade or so, the need for correspondent banking has boomed across the globe. The global pandemic further kicked this increase into overdrive, with [...]
On its surface, de-risking banking activities is a justifiable move. Rather than attempt to manage the risk, banks choose instead to avoid risk. With that move, they sidestep past onerous regulator penalties, reputation-tarnishing headlines, and angry shareholders and customers. The result, of [...]
There is a great romanticism about the unknown unknown. It sits there on the edge just beyond our knowledge and understanding. North America, before Columbus sailed there in 1492, was an unknown unknown to Europeans. Travels can take us to unknown places, and while there, we often find ourselves [...]
When I began my career, back in the late 90s, I was hyper-focused on rule-based technology and methodology. Rules represented our best chance at using automation to monitor transactions and prevent money laundering and other financial crimes. Two decades have passed, and it’s easy to see how [...]
With over 4000 leaked SARS that were involved with 2000 banks, turns out most of the SARs were related to cross border activity, a well-known “blind spot” in the banking world. Over the past several years, large schemes revealed the financial systems failure- with billions of dollars [...]
Global economy is facing real challenges with cross border payments, Financial Institutions lost trust in their counter-parties and their AML controls, De-risking and slow business are no longer needed-with ThetaRay financial institutions can gain trust back and support growth with [...]