Future State of Digital Banking: Implications for Financial Crime Threat Post COVID-19 

The rapid outbreak of COVID-19 presents an alarming health crisis the world is grappling with. In addition to the human impact, there is significant commercial and banking impact being felt globally, and the uncertainty may lead to further abuse of financial systems.

However, it may also present business opportunities and an acceleration in banks' digital transformation programs to help reduce financial risk post-pandemic.

Gain insights into challenges, strategies and recommendations for digital banking post COVID-19 crisis.

Risk Revealed Webinar Series

Our new, 6-part Risk Revealed webinar series brings together risk and compliance experts from across financial markets and corporates. Join us to learn how data and technology solutions can help you identify and mitigate risk exposure across your business—and how innovation can help turn the tide against financial crime.

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In this session, our expert panelists share their insights on:

  • Regulatory implications

  • Market drivers: changing consumer behavior and the fastest growing type of financial crime (i.e. cyber-crime, synthetic identity fraud, dark web)

  • Market challenges: how COVID-19 is changing the organized crime threat (rise in fraud, paper contamination, etc.)

  • Banks’ opportunity to realize value, review bank systems and controls while accelerating digital transformation (i.e. move away from manual KYC to digital) post pandemic crisis 

  • Strategies banks can adopt to mitigate AML/fraud risk
Meet our speakers
Holly Sais Phillippi

Market Development Director

Holly has over 19 years of experience in data/regulatory compliance and risk management. She is focused on building strong Customer and Third Party Risk communities within the corporate environment, regulatory and financial communities to ensure Refinitiv is putting the clients’ needs first in product build and design.

She is also responsible for strategic project planning, building an education strategy around Customer and Third Party Risk and assisting clients with large-scale Rollout & Adoption projects around Customer and Third Party Risk solutions. She has personally managed several top banks around the globe and engaged directly with their Anti-Money Laundering (AML) compliance teams and the heads of AML compliance.

Holly’s focus has always been to ensure clients have the data and systems necessary to meet their regulatory guidelines as well as corporate responsibility expectations.
Ben Arber

Head of Financial Crime Compliance, Commercial Banking

Ben has been with HSBC for 23 years, working in seven countries covering roles in commercial banking, trade finance, cash management, technology and credit risk as well as compliance. Ben joined HSBC in 1997 and moved to the UAE to run corporate banking and trade finance for HSBC Ras Al Khaimah.

For much of the next ten years Ben worked in cash management and trade finance in Asia, including as Head of the Global Liquidity and Cash Management in Korea from 2005-2008, before moving to Canada as Head of Global Trade and Receivables Finance in 2011. After concluding an extensive business de-risking, in parallel with a re-structure and pivot to growth with a doubling of the revenue stream, customers voted HSBC Canada the best bank for trade finance in the 2015 Euromoney survey. 

Ben has been in the US for six years, where he was initially responsible for trade finance governance, operations, financial crime controls and client service across North America, before moving into his current role at the end of 2017. Ben lives in Connecticut and works out of the HSBC New York office, when possible. 

James Mirfin

Global Head of Digital Identity and Financial Crime Propositions

James leads the global portfolio of financial crime propositions for Refinitiv, including World-Check and Digital Identity.

He is leading the strategic conversations with financial institutions, regulators and industry partners around the world as they battle to identify “who’s there” when they onboard and transact with their customers.

James started his career in the UK and spent 16 years in Asia in senior leadership roles with American Express, PayPal and Thomson Reuters, living and working in Singapore, Thailand, India and Hong Kong, before relocating to New York early in 2018.
Jeremy Kuester

White & Case

Jeremy Kuester is a counsel in the Washington, DC office of White & Case LLP, as a member of the Global Financial Institutions Advisory practice. He has extensive experience with Bank Secrecy Act (BSA) regulations, legislation, compliance, and policy. His practice includes matters involving the laws and regulations involving anti-money laundering (AML) and financial intelligence, including AML information-sharing and de-risking. 

Before joining White & Case, Jeremy was the Deputy Associate Director for the Policy Division at the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department that serves as the administrator and lead regulator of the Bank Secrecy Act (BSA). During his tenure there, he oversaw the publication of numerous anti-money laundering advisories to the financial sector, the promulgation of guidance on such areas as the May 2016 Customer Due Diligence Rule, and grants of exceptive relief from BSA regulations. He oversaw projects regarding de-risking of respondent banks in high-risk jurisdictions and the use of Section 314b for sharing of cyber indicators related to possible money laundering. He also drove efforts to be more responsive to how technological advancements impact the conduct of BSA/AML compliance. 
Jeremy Sausser

Acting Director, Office of Strategic Policy

Jeremy Sausser serves as Acting Director for the Office of Strategic Policy (OSP) at the Financial Crime Enforcement Network (FinCEN), a Bureau within the Department of the Treasury.  OSP, an office within FinCEN’s Policy Division, conducts research and strategic analysis of significant emerging trends, issues, policy development and innovative advances related to anti-money laundering and the countering of terrorist financing.  Prior to his current role, Jeremy served for over nine months as the Policy Division’s acting Deputy Associate Director.  He has also held the position of Senior Advisor in FinCEN’s Enforcement Division, where he successfully led several FinCEN projects, including FinCEN Exchange, a program to enhance information sharing with financial institutions.

Before joining FinCEN, Jeremy worked at the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for nearly eight years, serving as the acting Assistant Director for Enforcement and holding roles in both OFAC’s Compliance Division and its Licensing Division.  Before joining OFAC, Jeremy worked as an attorney in the private sector, primarily as a consumer financial attorney and a real estate attorney.

Jeremy graduated magna cum laude from Lycoming College with a B.A. in Political Science and History.  He received his J.D. from American University’s Washington College of Law.

Explore Refinitiv Qual-ID - digital identity verification, document proofing and risk screening solution.

Refinitiv, is one of the world’s largest providers of financial markets data and infrastructure. Serving more than 40,000 institutions in approximately 190 countries, we provide information, insights, and technology that drive innovation and performance in global markets. Our 160-year Reuters heritage of integrity enables customers to make critical decisions with confidence, while our unique open platform, best-in-class data, and cutting-edge technology bring greater opportunity to our customers. By advancing our customers, we drive progress for the entire financial community.

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