Strise

We're thrilled to share an inspiring customer success story featuring Vipps MobilePay and Strise! The AML landscape has significantly changed and to keep up with the demand for efficient onboarding solutions, if you're not utilising technology to your benefit, you're missing out on the game-changer automation offers. Vipps MobilePay, the leading Nordic mobile payment solution, were looking to streamline how they onboard their customers (12 million to date) while maintaining the highest standard of compliance. That's where Strise came in. 🌟 Challenge: Vipps MobilePay needed a robust, scalable platform to manage customer data, enhance compliance processes, and ensure seamless transactions across multiple regions. 🌟 Solution: By partnering with Strise, they leveraged advanced automation technology to transform their data management and compliance workflows. Strise’s platform provided Vipps Mobile Pay with 👉 👉 A single source of truth for all customer data, eliminating the need for multiple platforms 👉 Seamless automation of the onboarding process for standard risk customers, allowing teams to focus on high-risk customers 👉 Automated compliance checks, ensuring regulatory requirements are met effortlessly 🌟 Outcome: The collaboration resulted in remarkable improvements driven by automation: Reduction in manual compliance tasks through automation. Faster customer onboarding process due to automated workflows. 🔍 Key Takeaway: Strise's automated platform empowers companies like Vipps MobilePay to innovate and thrive in a competitive market. The collaboration with Strise is a testament to how automation can drive growth and efficiency. We are proud to be a part of this journey and look forward to many more success stories! ▶️ Watch the full interview with Vipps MobilePay's Chief Risk and Compliance Officer Silke Oeverby straight from their HQ in Bjørvika.

🎓 Dishing out BIG lessons on financial crime 🎓 We are reflecting on an epic season of 🔴 The Laundry podcast, where we’ve been joined by amazing guests from across the industry. Here’s just a sample of the lessons we’ve learned: 🇪🇺 AMLA is going to drastically change the EU’s response to money laundering and terror financing: The new regulatory body aims to both lead and support the global fight against financial crime. Consistent, robust regulations across the EU are key. ❌ It’s not a Chief Compliance Officer’s role to say ‘no’: It’s about implementing robust controls and balancing risk with commercial viability. Smart compliance is the way forward. ⌨️ Startups and money launderers are unexpected bedfellows: Tech companies and money launderers share similar goals—lots of money, international reach, minimal regulation. The overlap is alarming, and we need to be vigilant. Want more lessons from 🔴 The Laundry? Check out our latest episode for the best bits from the season: 🔗 https://lnkd.in/eWSeYeuq We’d also love for you to share the podcast on your social media channels, tell your colleagues about it, drop an episode in a group chat – it really helps people to find us! #FinancialCrime #Compliance #AML #AI #Crypto #SovereignWealth #FATF #AMLA #SyntheticData

🇪🇺 Can AMLA change the game in the fight against financial crime? 🇪🇺 We've asked the people working directly on the policy! The latest episode of 🔴 The Laundry explores the EU’s step to combat financial crime with the launch of AMLA - The EU Anti-Money Laundering Authority. Here’s what you need to know: 🛡️ Introducing AMLA: The New Powerhouse 👉 AMLA - The EU Anti-Money Laundering Authority, based in Frankfurt, aims to tackle 70% of criminal networks in the EU using money laundering to fund their activities and conceal their assets. 📋 Harmonising Rules and Supervision 👉 Single Rulebook by 2025: AMLA is developing a rulebook, streamlining compliance for businesses operating across borders. No more navigating different national standards! 👉Direct Supervision by 2028: AMLA will begin directly supervising high-risk financial entities, ensuring consistent and rigorous oversight. 🧠 Enhancing Intelligence and Collaboration 👉AMLA will serve as the central data hub, improving the ability of authorities to detect and prevent financial crime. 👉By fostering better communication and data sharing among EU member states, AMLA aims to stay ahead of organised crime. 🚀 Future Developments and Challenges 👉Utilising AI and advanced analytics to identify suspicious activities, making the fight against financial crime more proactive and effective. 👉 Ensuring robust data sharing while maintaining strict privacy protections, balancing security and compliance. 🎙️ Episode Highlights 👉 Chiara Bacci and Olena Loboiko of the European Commission provide insights into AMLA’s challenges and expectations, emphasising the importance of harmonised rules and the critical role of technology. 👉 The key challenge lies in the practical rollout of these new regulations. Industry participation and feedback will be crucial. Get the full picture on AMLA on the latest episode of 🔴 The Laundry, available on all podcast platforms now! 🔗 https://lnkd.in/eWSeYeuq #FinancialCrime #AML #EURegulations #Compliance #AMLA #Podcast / Olena Loboiko, #ChiaraBacci

So proud to announce that Strise is partnering with Storebrand, a cornerstone of the Nordic financial industry since 1767! Our mission at Strise is to help eradicate financial crime and we belive a key part of that is to bring much more automation into the AML space. Together with Storebrand, we're now building a safer, more efficient financial future as they are connecting to the Strise AML Automation Cloud: 🚀 Boosted efficiency: Storebrand will harness Strise's AML Automation Cloud to streamline its AML operations, transforming data management and workflow processes from a manual burden to an automated winner. 💡 Future-proofing their AML operations: By connecting to the AML Automation Cloud, Storebrand can access data that meets current and future regulations without extensive data-sourcing efforts. Strise's powerful entity resolution technology matches, merges, and triangulates all data. 🤖 Automation and AI out-of-the-box: the future of AML is not yet another customisation project. It's harnessing the latest AI and automation technology from a SaaS platform that provides value out-of-the-box that cuts time to value from months to days. So proud of my team at Strise 💖 Looking forward to setting new standard in AML Automation together with Storebrand! Link to the full article in BankShift Norge: https://lnkd.in/dp4msPaW

FATF President #TRajaKumar recently joined The Laundry podcast, hosted by Marit Rødevand from Strise, to delve into the crucial role of the FATF in safeguarding our global financial system. This conversation is packed with insights and behind-the-scenes details you won’t want to miss. Some key takeaways from the discussion: Grey listing’s True Impact: how FATF’s process not only identifies risks but also helps countries strengthen their financial systems, driving long-term economic benefits. Asset Recovery Revolution: with less than 1% of criminal proceeds currently recovered, FATF is pioneering new strategies to ensure that crime truly doesn’t pay. Staying Ahead with Technology: evolving FATF standards designed to tackle the fast-paced changes in payment systems and cyber-enabled crime. Transparency Matters: highlighted the importance of beneficial ownership transparency in unmasking hidden assets and fighting financial crime. Global Cooperation: The importance of international collaboration with organisations like #Interpol and #UNODC cannot be overstated in our fight against large-scale crime. Why listen? Get a unique perspective on FATF’s mission and its President. Understand the future challenges and opportunities in global financial crime prevention. 👉 Tune in now on your favourite podcast platform! 🔗 https://lnkd.in/eWSeYeuq #Followthemoney #terroristfinancing #proliferationfinancing

🚀 New Episode Alert! 🚀 We’re thrilled to be joined T Raja Kumar, President of the Financial Action Task Force (FATF), in the latest episode of 🔴 The Laundry podcast! 💡 Top Insights from the Episode: 🔴 Revolutionising Asset Recovery: With only 1% of criminal proceeds recovered globally, FATF’s new initiatives are set to change the game. 🔴 Graylisting Demystified: Learn how FATF’s graylisting process transforms countries, boosting transparency and economic stability. 🔴 Global Synergy: FATF's collaborations with Interpol and UNODC underscore the importance of international cooperation in fighting large-scale crime. 🔴 Ensuring Transparency: Discover how FATF’s push for beneficial ownership transparency is making it harder for criminals to hide their assets. 🔴 A Historic Move: The suspension of Russia's membership highlights the geopolitical complexities and the steadfast commitment of FATF to global financial integrity. 🎧 Why You Should Listen: 🤔 Gain unique insights from Raja Kumar’s extensive experience and leadership. 🚀Understand the future trajectory of FATF and its impact on global financial crime prevention. This episode is a must-listen for anyone passionate about fighting financial crime and understanding the mechanisms that keep our global economy secure. 👉 Don’t miss out! Listen now on your favourite podcast platform!

Does synthetic data in financial crime really live up to the hype? 🤔 Data in financial crime is vast, but is often protected. Synthetic data is generated by AI, using real-world statistics as a source. This can help build helpful data for fincrime professionals, while avoiding the use of sensitive data and personal information. In the latest edition of 🔴 The Laundry, Fredrik Riiser gets to the heart of the matter with Dr Janet Bastiman, Chief Data Scientist, at Napier AI. The pair discuss: 🤖 The very basics of synthetic data and how it works 🤖 How it is being utilised by compliance professionals to spot suspicious activities and train their systems 🤖 The challenges – including criminals using the same techniques to try and break through banks safety measures! Listen now and find out if synthetic data will really shake up financial crime and compliance! This podcast is available now on all platforms: click subscribe, leave a review, and share it with a colleague! 🙏

Widespread fraud stealing money directly from state funds, incriminating mobile phones discovered hidden in freezers, and shady operations disguised by a chain of front organisations. This isn't a spy thriller – this is the true story that Ekobrottsmyndigheten’s Jerker Asplund brought to the most recent Penningtvättsdagarna and one which we had to bring to 🔴 The Laundry listeners. Jerker described this exploitation of a loophole in the VAT system as an ‘attack’ on the state - and it’s hard to disagree. A shocking 60 billion euros has been taken out of tax funds for schools, social care, and hospitals – and instead is going into potentially funding the drug trade, organised crime, and global terrorism. Why isn’t this bigger news? Because VAT refunds don’t make the front pages. This podcast explains why compliance professionals, law enforcement, regulators, and hard-working people should be paying attention to this trend.

How did technology become a money laundering machine? In the latest edition of 🔴 The Laundry podcast – our expert host, Marit Rødevand is joined by investigative journalist and author, Geoff White, to discuss his new book: Rinsed: From Cartels to Crypto: How the Tech Industry Washes Money for the World's Deadliest Crooks. Geoff’s new book lays out some alarming examples of how technology is being used to generate and unlock the proceeds of serious crime, including: Human trafficking: ‘Rinsed’ does not shy away from discussing the grim realities of human trafficking and sexual exploitation. These horrific crimes generate profits that are then laundered through many avenues, including the dark web. Drugs: The connections between drugs and money laundering are nothing new, but ‘smurfing’ is a new way in which dealers are hiding their funds. This is where drug cash is distributed among numerous individuals (referred to as "smurfs"). These smurfs then deposit the money in small amounts, typically under $3,000, into their bank accounts to avoid detection and reporting thresholds. Cybercrime: The book also delves into the digital underworld, including hacker forums where stolen data, malware, and other illicit services are bought and sold. In the podcast, we discuss what Geoff sees as one potential solution to all this illegal activity, as well as discussing other stories which didn’t make it in to the book! A must-listen for anyone working in compliance, anti-money laundering, and fighting financial crime!

Join us for The Q: A live-streamed product release by Strise on Thursday, 20th of June, 2024, from 11:00 to 11:15 CET. (Make sure to bookmark the YouTube event link and hit the "Notify me" button) Live-stream agenda: 1. Get an inside look at Strise's revolutionary AML Automation Cloud. 2. See how we enable analysts to seamlessly interact with the AML Automation Cloud and its data layer to verify and resolve data conflicts. 3. Discover how we fully automate client Onboarding and Monitoring for corporate and retail customers at one of Europe's largest payment companies, Vipps MobilePay. 4. Join us for the official launch of KYC for retail customers in Strise. ⏰ It’s just 15 minutes of your time—perfect for a coffee break before summer kicks off. Don’t miss out on the Strise updates that matter most!