The key to reducing false positives while detecting more money laundering and other financial crimes is to radically improve detection

The national average FICO Score has steadily risen over the past decade

Due to all the fines and scandals in 2018, I am convinced that AI will play a more important role in financial crime compliance.

To comply with tax regulations, it is a must for a bank to check customers against these lists to avoid non-compliance, a damaged reputation and the support of illegal activity.

The directives are clear for all EU entities, and the lack of compliance in the recent Baltics case has hurt the bank's share price and reputation.

Banks are really starting to take a more integrated approach to financial crime management, and our announcement today about First National Bank (FNB) of Lebanon is a case in point.

Clearly, we need other approaches to AML case management than hiring investigators. An increase in both effectiveness and efficiency of the overall compliance process is required.

For the first time, the average FICO® Score in the U.S. has reached 704, showing a steady upward trend in US credit quality.

FICO conducted a research project to see just how much lift unconstrained, state-of-the-art ML techniques might offer over the FICO Score.

Looking ahead to 2018, I predict a rising trend for organizations to do four things better than today in the realm of financial crime.