Financial Crime Forum Roundup: Highlights From Aite Group’s Inaugural Event

Aite Group’s inaugural Financial Crime Forum was held in Charlotte, North Carolina, last month. This annual forum is dedicated to improving financial crime fighting efforts in the financial services industry. The forum consisted of panel discussions led by industry experts from both vendors and financial services organizations; they addressed fraud and anti-money laundering (AML) best practices that are being implemented at financial institutions (FIs). Improvement efforts were often focused on new software automation processes and the successful results obtained through the use of new technologies.

Julie Conroy, research director of Aite Group’s retail banking team, opened the forum with expectations for the day’s events. More than a dozen panel discussions were held—three with the entire group of attendees and the remainder loosely structured to split between fraud and AML. Topics included the following:

  • Combined sessions: Six key trends in financial crime mitigation, the art and science of invisible crime defenses, and understanding the past, present, and future of synthetic identity fraud
  • Fraud: Collaborative approaches to assess fraud risk, addressing malicious account takeover and balancing user experience, fraud mitigation in an omnichannel environment, and others
  • AML: Analytics techniques to address false-positive volume, convergence of fraud and AML approaches, and others
  • Other topics: Use of robotic process automation, digital identity to assess risks, use of machine learning, and others


For more information about this event, please visit our website here.

Attendees included participants from financial services providers such as Bank of America, Wells Fargo, BB&T, Ally, Fifth Third, PNC, Citi, First Citizens, U.S. Bank, and TIAA. Vendors from around the globe were also in attendance; vendors supported the event through sponsorships and by having booth personnel at the venue to discuss technology solutions. Feedback from attendees and participants was very positive. The panel approach was appreciated due to the opportunity for highly interactive discussions. All sessions were equally attended, demonstrating the level of diverse interest in forum content. And several Aite Group participants were available to facilitate dialogue and support events outside the sessions.

Research director Julie Conroy and senior analysts Shirley Inscoe and Tony Kaus led track sessions in fraud and AML, acting as moderators for simultaneous sessions. In this way, Aite Group had the opportunity to provide its expertise in bringing together individuals of all backgrounds—FIs, vendors, and others—enhancing the exchange of information from people involved in evolving best practices to those interested in learning about them. Based on the 2018 results, both fraud and AML practices will again be discussed in the 2019 Financial Crime Forum; the same format approach will be used to repeat this year’s success, with details expected to be released sometime in Q4 2018.

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