Top challenges with Compliance Management
Description
In this episode, Dean and Len focus on the top compliance management challenges financial institutions face in 2025, particularly in data privacy, cybersecurity, AI systems, and anti-money laundering/counter-terrorism financing (AML/CTF). They highlight how cyber threats—amplified by advances in AI—require robust encryption, advanced threat detection, and strict consent management. While AI and automation can streamline compliance, risk management, and customer service, they warn of the dangers of data bias and privacy concerns, stressing the need for strong governance and data quality controls. For AML/CTF, ongoing employee training, enhanced due diligence, and AI-driven transaction monitoring are crucial. The hosts recommend banks adopt clear, transparent, and unbiased AI policies with rigorous security, governance, and regulatory compliance frameworks to address these evolving risks and maintain customer trust.
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