AI-Driven Data Governance for AML/KYC in Credit Card Issuance: A Framework to Reduce Regulatory Consent Orders
DOI:
https://doi.org/10.22399/ijcesen.3757Keywords:
AI governance, AML, KYC, credit card issuance, data governance, fraud detectionAbstract
In the very digitalized financial world today, the convergence of artificial intelligence (AI) and data governance can transform anti-money laundering (AML) and know-your-customer (KYC) compliance in credit card issuing. This paper discusses how AI-governance models can assistin closing regulatory gaps, enhance operational performance, and reduce the likelihood of regulatory consent orders. Based on current research and AML/KYC industry applications, the paper determines the most common AI techniques in AML/KYC to include machine learning, natural language processing, and explainable AI.
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