Presented By
O’Reilly + Intel AI
Put AI to Work
April 15-18, 2019
New York, NY

Fighting Financial Crime with AI: Beyond Fraud Detection with AI-powered RPA

Kyle Hoback (WorkFusion), Mikhail Abramchik (WorkFusion)
4:05pm4:45pm Wednesday, April 17, 2019
AI Business Summit, Case Studies
Location: Sutton North/Center
Secondary topics:  AI case studies, AI in the Enterprise, Financial Services, Text, Language, and Speech

Who is this presentation for?

C-Level: Chief Operating Officer, Chief Information Office, Chief Compliance Officer, Deputy Chief Compliance Officer, Chief Data Officer; (Banking) VP of: Internal Audit, AML, KYC Compliance Enforcement, Regulatory Reporting, Risk Management; (Technology) VP of: Automation, Intelligent Automation, Robotic Process Automation (RPA), Innovation

Level

Beginner

Prerequisite knowledge

None required, although a background in banking will be useful for the context

What you'll learn

- For people in Banking, these are applied applications of AI within the banking operation - For people in AI and RPA, these are additional examples and approaches (with impact) for applying AI within the enterprise

Description

For financial institutions, a core opportunity to apply AI is within their Anti-Money Laundering (AML) and Know-Your-Customer (KYC) areas of the business. While banks have received incredible benefit by applying AI to monitoring fraudulent transactions, significant opportunities in fighting financial crime lie with automating the highly manual aspects of AML and KYC. Processes such as Negative News, Beneficial Ownership Trees, and Company Entities require not only the ability to address highly variable unstructured data sets but also the ability to provide enterprise controls to ensure quality and provide transparency in to each step of the process. AI-powered RPA provides a powerful approach for banks to achieve benefits from automation without sacrificing auditability and traceability. Unlike traditional RPA which focuses on rules-based aspects of interacting with user interfaces, AI-driven RPA greatly extends the capability into decisions on the highly unstructured data such as news articles. This session will focus on multiple case studies where AI-powered RPA is providing significant benefits.

Photo of Kyle Hoback

Kyle Hoback

WorkFusion

As Director, Market Enablement at WorkFusion, Kyle is responsible for partner enablement, sales enablement, and software demonstration, working within the Product team but closely tied to the Sales, Marketing, and Professional Services teams. With nearly 15 years of consulting and software experience, he is passionate about helping organizations efficiently collect and utilize the data, information, and knowledge of their organizations. Prior to WorkFusion, Kyle was a consultant with AT Kearney and Booz Allen Hamilton. He holds an MSc in Information Systems from the London School of Economics and a BS in Computer Science from the University of Nebraska at Omaha.

Photo of Mikhail Abramchik

Mikhail Abramchik

WorkFusion

As SVP, Product at WorkFusion, Mikhail leads Product Management at WorkFusion. He oversees research and development and strategic automation goals of charter customers and strategic partners. Prior to joining WorkFusion as an employee #1, spent many years in the consulting industry focusing on technology solutions in banking and financial informational services. Mikhail holds BS and MS degrees in Computer Science from Belarusian State University.

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