Newsletter, 18th ed.

Welcome to the 18th Edition of Perspective, by i3strategies®️ .

Thank you to everyone who reads and subscribes to our newsletter.

If you are new to this newsletter, here is a quick introduction:

i3strategies®️ is a market research and strategy consulting firm with expertise in Financial Crime Risk and Compliance. Our expertise spans Money Laundering, Corruption and Bribery, Sanctions, Fraud, and Cybercrime.

Our commercial focus is on Finance, Tech, Professional Services, Private Equity, and Venture Capital clients.

This newsletter covers the business and strategy sides of Financial Crime Risk and Compliance. Enjoy the read, and thank you!

Investments, Mergers and Acquisitions

In April 2024, we tracked one (1) investment and two (2) acquisitions. Here are the deals that were announced:

CertifID / Undisclosed Private Equity Round

https://fintech.global/2024/04/03/certifid-secures-vital-growth-capital-from-cibc-innovation-banking-to-combat-wire-fraud/

Verdance acquires Corlytics

https://www.corlytics.com/press-release/global-regtech-software-consolidator-corlytics-receives-significant-investment-backing-from-verdane-to-continue-category-leadership/

ComplyAdvantage acquires Golden

https://www.prnewswire.com/news-releases/complyadvantage-acquires-golden-expanding-financial-crime-intelligence-offering-302123438.html

Market News

Here are recent rebranding, partnerships, product releases, and innovations happening across the Financial Crime Risk and Compliance solutions landscape.

Alessa partners with RZOLUT

https://alessa.com/press-releases/rzolut-partnership/

Moody's partners with TrueBiz

https://www.moodys.com/web/en/us/kyc/resources/insights/moodys-partners-truebiz-automate-merchant-risk-assessment-underwriting.html

Xapien partners with Dow Jones Risk & Compliance

https://xapien.com/news-events/xapien-partners-with-dow-jones-risk-compliance

Siren partners with Chainalysis

https://thepaypers.com/digital-identity-security-online-fraud/siren-partners-with-chainalysis--1267658

Oscilar partners with Middesk

https://oscilar.com/blog/oscilar-and-middesk-partnership

Cognizant partners with FICO

https://news.cognizant.com/2024-04-17-Cognizant-and-FICO-Partner-to-Help-Banks-Prevent-Real-Time-Payments-Fraud

Oscilar Unveils AI-Powered AML Risk Platform: Transforming Compliance for BaaS

https://oscilar.com/blog/ai-powered-aml-risk-platform

New Oracle AI-powered Cloud Service Helps Banks Mitigate Anti-Money-Laundering Risks

https://www.oracle.com/news/announcement/new-oracle-ai-powered-cloud-service-helps-banks-mitigate-anti-money-laundering-risks-2024-04-08/

(Article) The Board's Role in Overseeing the Management of Financial Crime Risk and Compliance

If we’re being honest, boards typically do not take an interest in anti-fraud and anti-money laundering programs unless there is a significant fraud loss or regulatory pressure through examination or enforcement. In short, most boards see fraud as a buried operational function, and AML as a compliance function. Moreover, rarely do organizations have an integrated approach to managing financial crime risk.

So, can boards provide adequate oversight if that is the reality of the current state? Perhaps the better question is whether boards should be providing more adequate oversight. The answer is absolutely and much like the cross-industry push for cybersecurity to be a staple of board issues; financial crime broadly has a rightful place on the board agenda.

https://vicmaculaitis.substack.com/p/the-boards-role-in-overseeing-the

(Post/Note) Good. Better. Best. Reporting structures for the BSA Officer.

https://www.linkedin.com/posts/vicmac03_bsa-officer-cco-ceo-board-reporting-activity-7181724959629623297-q6Ka?utm_source=share&utm_medium=member_desktop

(Post/Note) A ton of work goes into building FinCrime operations.The best of the best builders and operators will pull on these 4 levers:1/ strategy ⇢ 2/ analytics ⇢ 3/ automation ⇢ 4/ max labor utilization models

https://www.linkedin.com/posts/vicmac03_a-ton-of-work-goes-into-building-fincrime-activity-7185747431089713152-mS7K?utm_source=share&utm_medium=member_desktop

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