Transaction monitoring technology: the unsung hero of AML

Unsung heroes - That's what we call the people or things that contribute heavily to an operation but whose efforts go unnoticed.

This is precisely what transaction monitoring technology does for anti-money laundering (AML). It's software that uses machine learning and automation to monitor customer behaviours and transactions, reducing the manual work involved and improving the efficiency and accuracy of anti-money laundering. While the public may not know that technology exists, they should be grateful that it does.

With a focus on the UK market, we'll take a closer look at this unsung hero against money laundering.