Latest news with #Celent
Business Wire
01-07-2025
- Business
- Business Wire
MCO Adds AML and KYC Capabilities to the MyComplianceOffice Platform
NEW YORK--(BUSINESS WIRE)--MCO (MyComplianceOffice), a leading provider of compliance technology, has enhanced its platform with Anti-Money Laundering (AML) and Know-Your-Customer (KYC) capabilities. This addition expands the platform's financial crime and third-party compliance functionality, providing firms with a powerful solution to meet regulatory obligations and proactively manage risk. Expanded financial crime and third-party compliance functionality provides firms with a powerful solution to meet regulatory obligations and proactively manage risk. MCO's AML and KYC capabilities enable financial institutions to transform and automate their customer due diligence process. From onboarding to periodic reviews to client maintenance and offboarding, MCO's platform systematically manages the collection of KYC information and in-depth screening of clients and related parties continuously throughout the lifecycle of the relationship. By leveraging cutting edge technology to disregard false positive noise and escalate only the most relevant potential matches for Sanctions, PEPs, and Negative News, MCO allows Compliance teams to streamline investigations and focus on high value work. The system provides a traceable, quantified view of risk and a customizable and automated compliance framework that improves data integrity and reduces the operational burden of managing disparate systems. 'Our clients are facing increased regulatory scrutiny and pressure to deliver more from their compliance programs with fewer resources,' said MCO CEO Brian Fahey. 'By embedding AML and KYC into our core platform, we're giving firms the tools they need to stay ahead of financial crime risks—without the complexity of managing disconnected point solutions.' MCO recently explored the latest trends in financial crime compliance during a webinar featuring Neil Katkov, PhD, Director at Celent, who brings extensive insight into the evolving regulatory and technology landscape. 'As financial services becomes increasingly digital—driven by real-time payments, mobile platforms and cross-border transactions—the potential for financial crime is rising. Firms must rethink the structure of their compliance architecture,' said Neil Katkov, Director, Celent. 'Integrating AML and KYC into a broader compliance platform like MCO's not only enhances control but also improves agility in responding to both threats and regulatory change.' About MCO MCO (MyComplianceOffice) provides integrated compliance management software that enables global financial services firms to operate efficiently, ethically, and compliantly. With 30+ products on a single system, the powerful MyComplianceOffice platform enables compliance professionals to demonstrate that they are proactively managing compliance obligations and the regulated activities of employees, the company, and third parties. To learn more about the MyComplianceOffice platform and watch the webinar, visit
National Post
30-06-2025
- Business
- National Post
Morgan Stanley Wins Two 2025 Celent Model Wealth Manager Awards for Technology Innovation in Wealth Management
Article content NEW YORK — Morgan Stanley (NYSE: MS) announced today that it has won two 2025 Celent Model Awards recognizing the Firm's innovative use of technology. The Firm secured Model Wealth Manager Awards for its SMA Matching and Transition Analysis Tools in the Data and Analytics category and for its AI @ Morgan Stanley Debrief in the Emerging Technologies category. Article content 'As our teams are continuously innovating and sourcing technology to push the industry forward, it's an honor to be recognized by Celent,' said Jed Finn, Head of Morgan Stanley Wealth Management. 'These awards validate our commitment to leverage technology to build a differentiated platform for our Financial Advisors that helps them grow their practice while effectively meeting the evolving and increasingly complex needs of our wealth clients.' Article content Celent's Model Wealth Manager awards recognize best practices of technology usage in different areas critical to success in wealth management and is the premier award that a financial firm in the industry can receive from Celent. Article content Morgan Stanley's SMA Matching and Transition Analysis Tools enable Advisors to quickly understand where clients' current portfolios have overlapping holdings or positions with Morgan Stanley or external asset manager solutions. The Transition Analysis Tool generates a report that evaluates potential tax implications of transitioning into those managed portfolios. The tools paired together give Advisors and clients a comprehensive understanding of the risk and tax impacts of different transition scenarios. Since launch, Advisors have executed over 20,000 Transition Analyses and generated over 5,000 transition reports for clients and prospects. Article content The AI @ Morgan Stanley Debrief tool leverages GenAI to assist Financial Advisors in Zoom meetings by taking notes, providing summaries, generating follow-up email drafts, and importing call information into clients' CRM profiles. With notetaking off the table, Financial Advisors are able to be fully engaged in meetings and quickly move onto their next tasks all while clients receive comprehensive notes with next steps. Morgan Stanley's team developed, piloted, and rolled out the solution to all its Financial Advisors. Article content This announcement comes on the heels of 2024 awards, where Morgan Stanley Wealth Management won a Model Wealth Manager Award for its AI @ Morgan Stanley Assistant in the Essential and Emerging Technologies category, a Model Wealth Manager Award for its Fractional Share program in the Personalization category, and a Model Risk Manager Award for its Portfolio Risk Platform in the Data and Analytics category. Article content For more information about Morgan Stanley's Celent Award honors as well as a full list of this year's honorees, please visit here. Article content About Morgan Stanley Wealth Management Article content Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses, and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. Article content About Morgan Stanley Article content Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit Article content The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley Smith Barney LLC ('Morgan Stanley') following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Article content Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent's 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award. Article content Morgan Stanley does not provide tax or legal advice. Financial Advisors should encourage their clients to consult his/her personal tax and/or legal advisor to learn about any potential tax or other implications that may result from acting on a particular recommendation. Article content Morgan Stanley provides certain products or services supported by AI via an arrangement with OpenAI LLC (OpenAI), an unaffiliated party. Morgan Stanley employees using such products or services are bound by all applicable policies and procedures. Morgan Stanley is not responsible for products and service offered by OpenAI on a basis separate from its arrangement with Morgan Stanley. Article content The Portfolio Analysis report ('Report') is generated by Morgan Stanley Smith Barney LLC's ('Morgan Stanley') Portfolio Risk Platform. The assumptions used incorporate portfolio risk and scenario analysis which is powered by BlackRock's Aladdin Wealth, a financial technology and risk analytics provider that is independent of Morgan Stanley. Aladdin Wealth's role is limited to providing risk analytics to Morgan Stanley and is not acting as a broker-dealer or investment adviser, nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. Article content This material has been prepared without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor. Before making a recommendation, the Financial Advisor or Private Wealth Advisor must have a reasonable basis for such a recommendation, and take into account the client's circumstances, objectives and risk tolerance to ensure it is appropriate for the client. Article content Article content Article content
Business Wire
30-06-2025
- Business
- Business Wire
Morgan Stanley Wins Two 2025 Celent Model Wealth Manager Awards for Technology Innovation in Wealth Management
NEW YORK--(BUSINESS WIRE)--Morgan Stanley (NYSE: MS) announced today that it has won two 2025 Celent Model Awards recognizing the Firm's innovative use of technology. The Firm secured Model Wealth Manager Awards for its SMA Matching and Transition Analysis Tools in the Data and Analytics category and for its AI @ Morgan Stanley Debrief in the Emerging Technologies category. "As our teams are continuously innovating and sourcing technology to push the industry forward, it's an honor to be recognized by Celent,' said Jed Finn, Head of Morgan Stanley Wealth Management. 'These awards validate our commitment to leverage technology to build a differentiated platform for our Financial Advisors that helps them grow their practice while effectively meeting the evolving and increasingly complex needs of our wealth clients." Celent's Model Wealth Manager awards recognize best practices of technology usage in different areas critical to success in wealth management and is the premier award that a financial firm in the industry can receive from Celent. Morgan Stanley's SMA Matching and Transition Analysis Tools enable Advisors to quickly understand where clients' current portfolios have overlapping holdings or positions with Morgan Stanley or external asset manager solutions. The Transition Analysis Tool generates a report that evaluates potential tax implications of transitioning into those managed portfolios. The tools paired together give Advisors and clients a comprehensive understanding of the risk and tax impacts of different transition scenarios. Since launch, Advisors have executed over 20,000 Transition Analyses and generated over 5,000 transition reports for clients and prospects. The AI @ Morgan Stanley Debrief tool leverages GenAI to assist Financial Advisors in Zoom meetings by taking notes, providing summaries, generating follow-up email drafts, and importing call information into clients' CRM profiles. With notetaking off the table, Financial Advisors are able to be fully engaged in meetings and quickly move onto their next tasks all while clients receive comprehensive notes with next steps. Morgan Stanley's team developed, piloted, and rolled out the solution to all its Financial Advisors. This announcement comes on the heels of 2024 awards, where Morgan Stanley Wealth Management won a Model Wealth Manager Award for its AI @ Morgan Stanley Assistant in the Essential and Emerging Technologies category, a Model Wealth Manager Award for its Fractional Share program in the Personalization category, and a Model Risk Manager Award for its Portfolio Risk Platform in the Data and Analytics category. For more information about Morgan Stanley's Celent Award honors as well as a full list of this year's honorees, please visit here. About Morgan Stanley Wealth Management Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses, and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. About Morgan Stanley Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley Smith Barney LLC ('Morgan Stanley') following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent's 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award. Morgan Stanley does not provide tax or legal advice. Financial Advisors should encourage their clients to consult his/her personal tax and/or legal advisor to learn about any potential tax or other implications that may result from acting on a particular recommendation. Morgan Stanley provides certain products or services supported by AI via an arrangement with OpenAI LLC (OpenAI), an unaffiliated party. Morgan Stanley employees using such products or services are bound by all applicable policies and procedures. Morgan Stanley is not responsible for products and service offered by OpenAI on a basis separate from its arrangement with Morgan Stanley. The Portfolio Analysis report ('Report') is generated by Morgan Stanley Smith Barney LLC's ('Morgan Stanley') Portfolio Risk Platform. The assumptions used incorporate portfolio risk and scenario analysis which is powered by BlackRock's Aladdin Wealth, a financial technology and risk analytics provider that is independent of Morgan Stanley. Aladdin Wealth's role is limited to providing risk analytics to Morgan Stanley and is not acting as a broker-dealer or investment adviser, nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. This material has been prepared without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor. Before making a recommendation, the Financial Advisor or Private Wealth Advisor must have a reasonable basis for such a recommendation, and take into account the client's circumstances, objectives and risk tolerance to ensure it is appropriate for the client. *Diversification does not guarantee a profit or protect against loss in a declining financial market. ©2025 Morgan Stanley Smith Barney LLC. Members SIPC.
Yahoo
25-06-2025
- Business
- Yahoo
Reimagining AI to Discover the Art of the Possible in Wealth Management
EDISON, N.J., June 25, 2025 /PRNewswire/ -- Mike Tropeano, CFA, AIF – Senior Vice President, Fi-Tek We have moved past the hype and are arriving at the point where Artificial Intelligence (AI) will have a significant impact on how we do our jobs. Sitting on the sidelines is no longer an option. Celent reported that 62% of wealth managers in the US are either in production, piloting, experimenting, or exploring use cases with generative AI. Engagement is not limited to large firms, with 50% of organizations between $1B–$20B doing something related to AI. Still have doubts? Data from IoT Analytics and BCG found that in the final quarter of 2024, mentions of AI agents on earnings calls increased more than 330% year over year. Progress is not without challenges. Questions about the accuracy of the results, cost of the solution, nervousness about the privacy of data, and the lack of clear regulations on the use of AI technology have held some back from diving deeper into AI. This shouldn't stop you from understanding what AI is and how it can impact your organization. Harvard Business School professor Karim Lakhani summed it up well:"AI won't replace humans, but humans with AI will replace humans without AI."Not learning more about what the future holds and developing a strategy only puts you further behind. How Can AI Transform and Become Impactful? Addressing the challenges and clearly defining your value proposition will show how AI can help you improve client engagement and become more efficient in the front, middle, and back offices. We know that leveraging data is the key to delivering actionable and strategic insights for use within your organization. Your firm possesses massive amounts of data, which delivers no value when it is at rest. What are some of the use cases where you can put your data to work? Transforming Client Engagement Through Hyper-Personalization Improving the client experience requires a fundamental change from reacting to anticipating a client's needs. Orion's Investors Survey found that the top two ways an advisor can enhance the client experience is through communication and personalized services. Both can be achieved by improving the way you use the data that you have within your ecosystem. We need to anticipate the client's need and bring them to where they want to go. It comes down to improving how we make them feel like a segment of one. More specifically, organizations can increase scale by using generative AI solutions to support the automation of some client communications, leveraging virtual assistants to synthesize large data sets, and deploying predictive analytics through advisor dashboards to deliver the next best action. Machine learning is another way to personalize online engagement, including the delivery of custom insights. Driving Scale Almost all firms are under pressure to become more efficient to address shrinking margins, an aging workforce, and key talent risk. We need to think about how we can improve the effectiveness of traditional automation tools, including expanding the capabilities to address tasks that have been traditionally manual. Optical Character Recognition (OCR) has been in place for many years. Improvements in accuracy have allowed it to become a bigger part of mainstream technology. Combining OCR with Robotics Process Automation (RPA) or using OCR to feed a transactional API provides the beginnings of an intelligent automation solution. Improving Your Control Framework It is a constant battle to stay one step ahead of the fraudsters. As soon as a gap is closed, they find another vulnerability. Organizations are looking for AI-based solutions to develop a stronger control framework and quickly detect anomalies that could be fraudulent transactions. We rely on humans or rules-based engines to detect irregularities. This only works when datasets are manageable, predictable, or we know what to detect. Schemes to defraud investors are becoming more complex. Deploying multifactor models and predictive analytics can assist in understanding patterns of behavior and provide insights into a potential fraudulent transaction or the detection of a bad actor. What Do You Need to Consider? Transforming through emerging technology can be stressful. Simplifying your goal makes the first step easier. Consider starting with defining your organizational value statement for utilizing AI. Focus on the objective versus the outcome as the first step in developing a strategy. As you move forward, leverage a role-based design rather than taking a task-based approach to quantifying what you want to achieve. Work to identify your targeted use cases, prioritizing higher impact, lower effort. This will support the delivery of a more efficient operating model and allow for similar tasks to be solved together. After you establish the foundation, the work continues. Assess the Regulatory Environment and Internal Compliance Requirements At this point, organizations should have a policy defining appropriate uses for AI. This may be as simple as: the use of AI is strictly forbidden, is limited to certain functions, and/or requires a set of disclosures. More specifically, you need to define your plan to supervise the use of AI across your organization. When you deploy an AI-based solution, there needs to be a plan to identify and mitigate associated risks such as accuracy or bias. Understand that this document will be fluid as the regulatory environment matures. While we do not have a fully defined regulatory framework, there are existing laws, regulations, and guidance that are applicable. Regulations exist for the protection of personally identifiable information (PII), your duty as a fiduciary, and what needs to be disclosed when using third-party information. Regardless of how the task is accomplished, the regulatory guidance stays the same. As solutions are deployed, you will want to consider how to use that tool and still ensure compliance with applicable regulatory requirements. Get Your Data in Order The ability to analyze large data sets is core to the value of artificial intelligence. Success depends on ensuring that the data used is accurate and available. It seems simple; however, many organizations struggle to identify a gold copy for some information and, if they have one, the accuracy can come into question. Data governance is a process that is consistently discussed, however, few implement. Gaps in quality and quantity can lead to hallucinations or misinterpretations. You will also need to clearly define what data is needed. Bigger is not always better. Narrowing the scope to only the important data elements not only makes the integration easier, it also limits what could be exposed should a bad actor gain access to your information. Understand Your Partner's Plan to Integrate AI Lack of resources and subject matter expertise are two of the top reasons why most organizations fail to adopt emerging technologies. Regardless of size, many firms need to rely on partners to help deploy innovative solutions. AI is maturing at a rapid pace. Innovative firms have both a strategy and results they can point to on how they are using AI to improve their products. Interested in finding out more? Reach out to the Fi-Tek team. Media ContactsArpita ChatterjeeDirector of Marketing and Strategic Alliance, Fi-Tek732-632-8167AChatterjee@ View original content to download multimedia: SOURCE Fi-Tek LLC
Yahoo
19-06-2025
- Business
- Yahoo
BMO Recognized with 2025 Celent Model Bank Award for Payments Innovation
TORONTO and CHICAGO, June 19, 2025 /CNW/ - BMO today announced it has received the 2025 Celent Model Bank Award for Payments Innovation for five digital payments and client experience initiatives across Canada and the U.S. Digital Card Controls Suite – Canada: BMO Digital Card Controls Suite is a quick solution for clients facing pressing issues such as a lost wallet, damaged cards, or forgotten PINs. With this convenient solution, clients are empowered to manage their cards anywhere and at any time. Unified Push Provisioning – Canada: BMO's Unified Push Provisioning integration enables clients to access their debit or credit cards securely through multiple Google platforms including digital wallets, an automated fill on Google Chrome's web browser as well as save card payment information across stores powered by Google's checkout platform. In addition to improving client experiences, it enhances security through tokenization and enables enhanced fraud checks and seamless connectivity. Enhanced Transaction Details – Canada: The debit and credit enhanced transaction details initiative helps clients make real financial progress by ensuring they are equipped with valuable information to recognize their transactions and have a better understanding of their personal financial management. Available for both debit and credit purchases, clients can quickly convert transactions to installments, gain insights into their spending habits and access more information about a transaction. Direct Deposit Setup and Soft Credit Pull – U.S.: By embedding a direct deposit setup, clients can seamlessly connect their payroll system to their new BMO accounts, activate and fund their accounts and enjoy BMO's offerings instantly. The bank's soft pull inquiry process enables clients to receive real-time and accurate credit eligibility decisions, empowering clients to assess credit eligibility and explore credit options with confidence. FundsNow – U.S.: A check deposit solution, FundsNow grants users immediate and guaranteed access to their eligible mobile-deposited checks, eliminating the need for in-person branch visits. Clients can feel confident when accessing their funds conveniently and confidently on their own terms and in the channel of their choice. "This recognition exemplifies BMO's commitment to delivering great banking experiences across Canada and the United States," said Peter Poon, Head, Digital Self-Service, Innovation and Technology, BMO. "By continuously innovating across our digital payments ecosystem with leading partners like Google, we are helping clients make real financial progress on their terms and with confidence." BMO continues to pave the way as a digitally enabled, future-ready bank, focused on delivering leading digital experiences that help customers make real financial progress. These awards represent another step in BMO's Digital First journey and build on the bank's strong track record of industry recognitions. For more information about the awards please visit: For more information on BMO's tools and resources available to help customers set, track, and manage their personal finances please visit: About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. SOURCE BMO Financial Group View original content:
