The digital banking shift, digital payments, cryptocurrencies and artificial intelligence (AI) are critical factors behind escalating global financial crime compliance costs that exceed $200 billion. Those are among the findings in LexisNexis Risk Solutions’ True Cost of Financial Crime Compliance Study for 2023.
The desire for increased financial inclusion is a primary driver behind the increased use of alternative data in lending decisions, a new report from LexisNexis Risk Solutions finds.
Financial institutions are pressured by costs and regulations totalling $56.7 billion, LexisNexis Risk Solutions finds in a new report.
A report from LexisNexis Risk Solutions finds that financial institutions prioritize transparency and inclusion but face challenges.
Fintech faces a flurry of changes, LexisNexis Risk Solutions director of financial crime compliance Tracy Manning said.