Author Archives: Huma Usmani

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The Rise and Scope of FinTech


There are undoubtedly a lot of challenges banks are currently facing. The dynamic regulatory environment and the rise of technology in everyday banking activities is changing the way we bank, and catering to this fast evolving dynamics is tough for most banks. This is where FinTech is making a difference. According to the infographics created…

How Big Data Addresses the Issue of Anti-Money Laundering


Anti-Money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities. Money laundering activities typically aim to generate income with no regulation to maximize income for as little cash outflow as possible, with no…

Regulatory Reporting for Financial Institutions: The Technology Challenge


While we have previously analyzed the impact of regulations on banks due to various key issues (see related articles at the end of the blog), implementation of new technology and the need to update IT infrastructure has been a significant issue for banks and financial institutions. Regulators demand information on various activities (liquidity management, asset…

Overview Of SAR (Suspicious Activity Reporting)


Suspicious Activity Reporting (SAR) forms the cornerstone of the Bank Secrecy Act (BSA) and provides critical financial information to combat terrorist financing, money laundering, and other financial crimes. To comply with this requirement, it is essential for financial institutions to have in place sophisticated monitoring and reporting processes capable of identifying and monitoring transactions and…