Modern banks protect against money laundering, fraud and cyber attack with a massive array of high-tech tools and an army of highly skilled employees. Yet they’re still a valuable target for criminals, sanctioned organisations and cyber attackers. And all of these adversaries are agile, adaptable and operate with few restrictions.
See our step-by-step guide to success
Faced with nimble adversaries, banks counter by hiring of people, and buying more and more technological solutions. But in the search for effectiveness, there’s one area that they have overlooked: internal divisions. The individual silos representing Compliance, Counter-fraud and Cyber Security often operate separately, unable or unwilling to share data, information or intelligence. While they’re often better remaining as separate teams and departments, the benefits of intelligence and data sharing are massive.
Addressing the problem of siloed cyber, fraud and compliancegroups creates more effective teams that pass the right intelligence at the right time between themselves and present coherent, actionable information back to the business they protect and support. Better insight and intelligence means better business decisions, and an intelligence-led approach also makes for better understanding of risk – and as a result, better, safer business growth decisions.
The good news is that banks can build this new organisation fast, and with minimal investment of time, personnel and other resources. A concerted effort in 100 days can help build more effective teams that share and use information in a way that lets them take back the initiative from criminals and work as defenders of their business and society as a whole.



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