FactSet Integrates AI Tools for Financial Crime Risk Management in Banking

FactSet has launched integrated, AI-driven financial crime risk management capabilities within its Workstation platform. These new features, encompassing Know Your Customer (KYC), Anti-Money Laundering (AML), and Risk Management, are designed to transform compliance and onboarding workflows for mid-level professionals at middle-market and regional boutique corporate banks.

Available exclusively to FactSet clients through the Workstation platform, these analytics engines are built to ensure secure, auditable, and compliant operations for banking clients. The new functionality, powered by FactSet's strategic partnership with ComplyAdvantage, enables relationship managers (RMs) to oversee client onboarding, screening, and ongoing risk monitoring within a single, unified platform.

"FactSet has dedicated decades to developing purpose-built analytics engines and productivity tools that dealmaking users rely on, and this launch marks an exciting next step in FactSet’s commitment to innovation for our clients," said Kendra Brown, Senior Vice President and Senior Director of Banking and Sell-Side Research at FactSet. "By embedding generative AI directly into FactSet Workstation, we empower relationship managers to make smarter, faster decisions and boost productivity."

The announcement underscores FactSet's ongoing investment in banking and its commitment to intelligent automation for financial professionals. This latest release enables RMs to centralize prospecting, client service, and compliance, including risk detection and AML checks, within a single platform. This reduces total cost of ownership, streamlines operations, and maintains robust compliance standards.

With the addition of these AI-driven capabilities, RMs can now accelerate onboarding by automating up to 80 percent of KYC, AML, and sanctions review steps, reducing client onboarding times by up to 50 percent. Machine learning is also applied to reduce false positives by up to 70 percent, enabling analysts to focus on true risks.