Oracle Financial Services has taken a significant step to support banks in the fight against money laundering, which is expected to involve $5.05tn this year.The cost and complexity of compliance have increasingly burdened banks amidst the escalating menace of money laundering. Oracle Financial Services Compliance Agent, an AI-powered cloud service, offers a practical solution to this pressing issue.The Compliance Agent empowers banks to conduct cost-effective hypothetical scenario testing. This testing allows banks to fine-tune thresholds and controls, enhancing their ability to detect and prevent illicit activities and comply with regulatory standards.The Compliance Agent is designed to enable financial institutions to assess and optimize their Transaction Monitoring Systems (TMS) holistically and more economically. It also supports empirical decision-making in risk modeling and AML control adjustments.The partner of Fintech section is Tweet Views 10868