What is AML automation?
Anti-money laundering (AML) automation involves automating key AML compliance tasks such as Customer Due Diligence, Record-Keeping, Transaction Monitoring, etc. Entities obligated under AML laws of a country to comply with certain AML obligations, can adopt automation to make their compliance journey smoother, robust and cost-effective. AML automation provides benefits over manual processes such as better customer management, quicker compliance, reduction of errors, etc.
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