Bankloch

Despite enormous investments in Anti-Money Laundering (AML) detection - from advanced monitoring systems to large compliance teams - money laundering remains alarmingly persistent. Criminals stay several steps ahead, while financial institutions find themselves trapped in a game of "compliance theatre". AML detection is inherently difficult: money launderers are agile, adaptive, and operate across borders and institutions. But the real challenge lies not just in complexity - it’s in the misaligned incentives and checkbox mentality that dominate the system. Financial institutions are required to: Implement a predefined set of   detection rules   (which are often public knowledge among criminals) File   Suspicious Activity Reports (SARs)   when certain patterns or thresholds are triggered The cost of AML is staggering compared to its measurable benefits. For example, in the Netherlands, it’s estimated that around 20% of bank employees - roughly 13,000 people - are enga...

  Financial literacy remains a global challenge, not only in developing nations or among those with limited education, but also among university graduates, even those with degrees in economics. Despite access to financial knowledge, people consistently make   irrational decisions : overspending, under-saving, mismanaging risk, or ignoring better alternatives. For decades, the default response from governments and institutions has been education. The theory goes: if people understand money better, they’ll make smarter choices. But the data tells a different story. While education can raise awareness, its impact on long-term behavior is often marginal and short-lived. The truth is simple:   knowledge alone rarely changes behavior . People change when they have a reason to, i.e. a financial incentive, a social signal, or an emotional trigger. To truly improve financial health, we need to focus not just on teaching, but on   changing behavior . Fintechs and banks are beg...

  Two weeks ago I had the pleasure of attending   DFS 2025 , the annual Belgian Fintech conference hosted by Fintech Belgium. As always, the event brought together thought leaders and innovators to explore how financial services are evolving in tandem with the latest technologies. The sessions were packed with insights, and a few powerful trends stood out. AI   was at the heart of nearly every pitch and panel. It’s becoming a fundamental engine for internal efficiency and next-level customer service: Automation via AI   is expanding into areas like KYC, AML, insurance claims, credit origination and many others, thanks to its ability to transform unstructured data into actionable intelligence. Personalized services   are reaching more customers. With AI chatbots, AI investment-advisors and AI-driven recommendation engines, financial institutions can now offer tailored product recommendations, investment advice and other services once reserved for high-net-worth c...

Not long ago, data privacy was seen primarily as a regulatory hurdle, i.e. a checklist to avoid fines. But in the wake of major data scandals like Facebook/Cambridge Analytica, the Marriott data breach or the Equifax data breach, privacy has evolved. It is no longer just about compliance. Today, it is a strategic lever that can build trust, drive differentiation, and even unlock new business models. As consumers become more aware of how their data is used, companies are being forced to rethink the value and the risk of data. In a digital economy where trust is currency, privacy has become the exchange rate. This growing focus on privacy is fueled by several key trends: Exploding data breaches : With mandatory reporting (e.g. GDPR), more incidents are now visible. Expanding attack surfaces : APIs, cloud platforms, mobile apps, and open channels create more exposure. Sophisticated attackers : Hackers use both technical exploits and social engineering. Informed consumers : People now dema...