COALESCE.AI MODERATES AN AI THINK TANK COMPRISED OF SENIOR EXECUTIVES FROM PROMINENT FINANCIAL INSTITUTIONS AND REGULATORY AGENCIES, THAT EXPLORES THE POTENTIAL FOR AI TO IMPROVE FINANCIAL CRIME DETECTION.

We learned the primary concern of financial institutions is reputational risk and participants are willing to collaborate on sharing data about bad actors. However, punitive regulations and government policies prevent seamless sharing of information.

Over the last year, our Think Tank has advised members of the U.S. Congress on a collaborative model that can be used to combat financial crimes via information sharing, which was included in a Bill to modernize financial crime detection.

 

HIGHLIGHTS

LINKS ON COALESCE AND THE THINK TANK’S SUCCESS IN WORKING WITH CONGRESS TO MAKE A POSITIVE CHANGE TO FINANCIAL CRIME DETECTION:

NOVEMBER 2018:

Combating Money Laundering and Other Forms of Illicit Finance: Regulator and Law Enforcement Perspectives on Reform.

 

BOSTON AI THINK TANK TIMELINE
2018
January 29, 2018

Coalesce establishes AI Think Tank

June 29, 2018
October 29, 2018

Think Tank meets with members of Senate Banking and House Financial Services Committee to advise on AI for financial crime detection.

November 29, 2018

Senate Banking Hearing on Combating Money Laundering and Other Forms of Illicit Finance.

December 29, 2018
2019
March 29, 2019

House Financial Services Committee sends letter to FinCEN on the use of Collaborative AI to improve Financial Crime detection

June 29, 2019
July 29, 2019
September 29, 2019
October 29, 2019
2020
February 29, 2020

Think Tank brings together financial institutions, Federal Reserve Bank and regulators to pilot Collaborative AI solution for synthetic ID fraud detection.

 

HOW CAN WE HELP YOU?

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