SOURCE: Pneuron

Pneuron

May 02, 2016 10:58 ET

Anti-Money Laundering May 4th Webinar: Meeting Regulatory Compliance in 2016

Free Webinar Features Speakers From Texas A&M Law School, Reed Smith and Pneuron

BOSTON, MA--(Marketwired - May 2, 2016) -  How banks can keep pace abiding by BSA/AML compliance and reporting rules will be the focus of a May 4th webinar sponsored by The Knowledge Group. The two-hour event is complimentary and features speakers from Texas A&M Law school, a BSA compliance attorney, and CEO Simon Moss of Pneuron Corp., a leader in business orchestration software that enables real-time control of data discovery, retrieval and analysis enabling organizations to design, deploy and run distributed solutions for intelligent business decision-making. To register click here.

Speakers will review recent litigation, sanctions and developments in Anti-Money Laundering. Attendees will gain an understanding of how they can combat current challenges to create an optimized program that is standardized and more accurate.

"Transaction Monitoring Systems (TMS) have been the basis of AML deployments for over a decade. They have provided solid value," says Simon Moss. "But the challenge has changed now -- by far the biggest challenges facing AML departments and by far their biggest exposures, are the volume of alerts that overwhelm the FIU, and the complexity and diversity of customer relationships and activities within the institution and the market in general. These combined are undermining the effectiveness of investigations and presenting huge opportunities to hide laundering activities. High noise factor undermines behavioral detection algorithms that seek anomalies. Combine this with poor Know Your Customer (KYC) on-boarding procedures and most BSA/AML programs are increasingly challenged."

In brief, Pneuron will detail a best practice approach to solving these challenges:

  • Automate data access, calibration, investigation and disposition so the investigation happens in a couple of minutes instead of hours.
  • Ensure the automated process is specific to each alert or case type, each business unit or asset class, and each behavior type.
  • Ensure that "adaptive workflows" are clear, consistent, documented and disciplined -- so as to remove the subjectivity of the investigation.
  • Establish a crisp clear single entity understanding, that includes a full 360-degree understanding of the behavioral characteristics of the customer sourced from outside activities, social media and the massive diversity of data that is available today.

Pneuron's focus is on operationalizing the insights of Big Data, the existing functionality of applications, and the inherent potential of existing data through the deployment of intelligent workflows. These workflows are deployed as a non-invasive, distributed processing network that leverages a microservices-styled architecture. By visually configuring various native services ("pneurons") into a non-invasive "fabric," designers combine data interactions, analytics, and process controls into intelligent workflows.

Key Facts

When: Wednesday, May 4, 2016, 3:00 pm - 5:00 pm EDT
Who: Prof. William Byrnes, Associate Dean, Texas A&M University Law; Kathleen A. Nandan, Counsel, Reed Smith; Simon Moss, CEO and President, Pneuron.
Where: To register via The Knowledge Group click here.

About Pneuron
Pneuron's leading business orchestration software enables organizations to flexibly leverage their existing applications, infrastructure, services and data to create and deliver actionable intelligence -- in half the time and cost. Through Pneuron's innovative, distributed approach, companies are no longer faced with the complex centralization and integration requirements of traditional approaches. Pneuron and its groundbreaking technology have garnered numerous awards and recognitions including: MIT Sloan School CIO Enterprise Innovator Award, 2015 Gartner Cool Vendor, CRN's 2015 Emerging Vendors designation and SD Times Company to Watch. For more information, visit us online at: Pneuron.com, on Twitter or LinkedIn.

Contact Information

  • Media Contacts
    Pneuron
    Heather Moses
    Chief Marketing Officer
    Email Contact
    (781) 789-0458