FinCrime Technology Breakfast

Across the industry, three challenges stood out:

• Poor data governance and structure
• Difficulty achieving senior management buy-in
• Fragmented collaboration across operational, compliance, and technology teams

Participants emphasised that success depends on aligning teams early, ensuring data readiness, and building a clear risk framework before selecting technology, not retrofitting it afterward.

Technology itself isn't the issue. Machine learning is beginning to deliver real results, but organisations are cautious: trust in technology hasn't yet reached the point where it can replace human judgment. Meanwhile, regulators are not setting the pace, they're struggling to keep up alongside the industry. Firms agreed that success lies in bringing regulators on the journey: keeping them informed, sharing progress, but avoiding firm commitments that could create risk later.

Looking ahead, one priority eclipsed all others: fraud. With the introduction of "failure to prevent" requirements, organisations are focusing their efforts on strengthening fraud frameworks, technologies, and controls. Transformation isn't optional it's urgent.



If you are interested in exploring this topic further, please reach out to Caleb Hogg, Financial Crime Practice Lead.