The Fenergo FinTalks podcast is where we connect our listeners to the latest in RegTech, compliance, and anti-money laundering (AML) activity.
In this episode we’re joined by Fenergo’s Director of Product Partnerhips, Sonum Puri, and special guest Paul Iezzi, EMEA Channel Partner Manager at Refinitiv. Refinitiv (part of the London Stock Exchange Group) is one of the world’s largest providers of financial markets data and infrastructure. Refinitiv provides information, insights, and technology that enables its customers to execute critical investing, trading, and risk decisions with confidence.
In this episode of FinTalks, Paul, Sonum, and our host, Dhanum Nursigadoo, delve into how partnerships between technology providers are essential in the fight against financial crime.
Their discussion highlights how trust, transparency, and communication are key to building effective long-term partnerships. With real-time data sharing enabled by APIs, partners can collaborate to stay ahead of evolving financial crime risks through insights, education and innovative solutions that solve for know your customer (KYC) and sanctions screening. Working together, technology providers can chip away at financial crime through a network effect, such as leveraging automation to helping compliance officers focus on higher value tasks and complex investigations.
The essentials of a successful partnership include:
- Trust and transparency: partners need to be open and honest with each other to build trust
- Communication: staying aligned on goals and strategies to keep the partnership effective over the long term
- Integration: APIs enable more efficient data sharing and integration between partners, helping with digital transformation efforts
While automation and AI can help improve efficiency, the human element is still needed to understand the bigger picture and context around financial crime risks. Sanctions data and screening need to be as close to real time as possible to help companies make proactive decisions and manage risks effectively.
Working together, partnerships can help chip away at financial crime by sharing insights, collaborating, and educating each other.
"It's not about changing what the compliance officer does, or what people who are fighting financial crime actually do. It's about being as effective as possible at it. So doing fewer manual activities, but more strategic activities, more focused activities.” – Paul Iezzi, EMEA Channel Partner Manager at Refinitiv
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