These techniques also create a means to monitor culture and reputational risks, proactively deal with potential breaches, and handle many investigative requirements in-house. The secret is to bring all your key data together and then use this advanced technology to identify and prioritise hot spots. That way, you can make the most of your human expertise to investigate potential problems, and so achieve much more with limited resources.

Financial institutions have made great progress with digitalisation of the customer-facing aspects of their business. Now they can benefit from applying some of the same ideas to managing risks and compliance matters, which currently follow a more traditional model with a lot of human-driven activity and technology. By adopting digital methods and applying techniques such as machine learning and sentiment analysis in conjunction with existing tools, an institution can empower its compliance function to focus on high risk areas.