by Angela Guess

According to a recent release out of Datameer, “In a move to help financial services and insurance institutions find new insights that drive higher business performance, Datameer is introducing a number of resources that will target key pain points. Focus areas include identifying suspicious money-laundering activity patterns, reducing risk and maintaining regulatory compliance, and improving customer intelligence and precisely targeting marketing campaigns. ‘In this new digital era, financial services are encountering a host of new challenges due to the combination of the rising volume and complexity of data and the escalation of regulatory pressures,’ said Stefan Groschupf, CEO of Datameer. ‘We understand that helping navigate these waters goes beyond simply providing the best technology platform by understanding the industry’s pain points and helping foster the development of a data-centric organization’.”

The release goes on, “Anti-money laundering regulations continue to evolve, becoming more complex, costly and difficult to comply with. Given the ever-growing scope of AML rules and massive volume of data to be analyzed, leading banks are abandoning their minimally viable compliance approaches and leveraging modern BI platforms to streamline their AML reporting and compliance… Regulatory compliance mandates are becoming stricter and most involve the aggregation, analysis, and reporting of massive diverse data sets that span business lines and are managed by many teams. Only 32 percent of firms in the 2015 Deloitte Compliance Trends Survey were confident their compliance departments IT systems could satisfy compliance responsibilities. Responding to the latest regulatory mandate is made easy with Datameer’s architecture, which balances the need for rapid ad hoc self-service analytics with enterprise grade governance, access controls, and scheduling/automation capabilities.”

Read more at MarketWired.

Photo credit: Datameer