A Pioneering Collaboration: The DT4C Alliance
The formation of the Data and Technology for Compliance (DT4C) Alliance marks a significant milestone in the ongoing battle against financial crime. Founding members, including Encompass Corporation, Dow Jones Risk & Compliance, Dun and Bradstreet, Moody’s Analytics, and RELX, have come together to pool their expertise and resources, creating a powerful force for good in the technology and data sectors.
Combating Financial Crime with KYC and AML
Dr Henry Balani, Global Head of Industry and Regulatory Affairs at Encompass Corporation, has been appointed to represent the company in the Alliance. With 30 years of experience in the technology industry and a focus on regulatory compliance issues, Dr Balani brings extensive knowledge to the table, particularly in the areas of Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.
Strengthening the AML Ecosystem
The primary aim of the DT4C Alliance is to present a unified voice in the fight against financial crime, working together to strengthen the AML ecosystem and better manage and mitigate the risks facing banks and other Obliged Entities. By joining forces and collaborating on data and technology solutions, the Alliance aims to create a future-proof AML framework that meets the needs of EU law makers and helps to achieve their digital and green agendas.
Promoting Digital Transformation
As a founding member of the DT4C Alliance, Encompass Corporation will act as a leader for technology providers, playing a critical role in informing key policies that protect banks and Obliged Entities from financial crime. Dr Balani has expressed his commitment to leading banks and financial institutions towards digital transformation journeys by promoting the adoption of automation technology to power compliance and operational efficiency.
A Trusted Policy Partner
The DT4C Alliance aims to become a trusted policy partner for EU lawmakers, providing valuable insights and recommendations that can help to achieve their digital and green agendas. By working together, the Alliance hopes to make a significant impact on the global fight against financial crime, helping to create a safer and more secure financial ecosystem for all.
Conclusion
The formation of the DT4C Alliance represents a significant step forward in the fight against financial crime, bringing together some of the most innovative and influential players in the technology and data sectors. By working together and sharing expertise, the Alliance hopes to strengthen the AML ecosystem, promote digital transformation, and become a trusted policy partner for EU lawmakers. As the fight against financial crime continues, the DT4C Alliance will play a vital role in shaping the future of compliance and regulation in the financial sector.
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