Download AML Transaction Monitoring - 2020 Nordic Survey Report
Key findings of the report:
1. Nordic banks have a lower maturity of TM capabilities compared to financial institutions in EMEIA
The survey compared the Nordic banks to the financial institutions which participated in the AML TM survey conducted at an EMEIA level in 2018. In general, the current maturity of TM capabilities and operations in the Nordics is lower than that of respondents of the 2018 EMEIA survey (find the survey here).
2. Significant differences in TM operations depending on the size of the banks in the Nordics
There are significant differences in the TM setup comparing small and medium-sized banks in the Nordics with the large Nordic banks. While most organizations have matured, there is a gap between larger banks who have experienced direct regulatory scrutiny and invested heavily as a result, and the smaller banks who are more focused on getting the basics right.
3. Increased investments in TM, including new technologies, among the Nordic banks
Nordic banks are exploring the possibilities of new technologies in the TM field to improve both the effectiveness and the efficiency of their TM operations.