Inside Innovation Live 14 – A new era of collaborative innovation to fight economic crime | Swift

LinkedIn Live broadcast: 19 September 2024

Economic crime has a huge impact on the global economy. Worldwide losses from payments fraud in 2023 alone were a staggering $485bn, while money laundering is estimated to cost between $2-5tn annually.

While governments, regulators, and organisations continue to invest in compliance and technology to fight financial crime, these numbers continue to rise. So, what’s being done?

The global financial services sector is realising now that economic crime can’t be fought alone. Industry-wide collaboration is key.

Over the past years, numerous partnerships have been developed all over the world, fuelled by the rising maturity of privacy-enhancing technologies to preserve security and sovereignty of the data, insights and risk information being shared.

Watch our latest Inside Innovation, where Swift’s Head of Innovation, Nick Kerigan, is joined by Nick Maxwell, Head of the Future of Financial Intelligence Sharing research programme at the RUSI Centre for Financial Crime & Security Studies.

They discussed the ongoing evolution in legislation that’s enabling the financial intelligence sharing partnerships, as well as the progress we’ve made in the Federated AI initiative Swift launched to help the community fight financial crime.

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PRESENTER:

BIO: Nick Kerigan – Managing Director, Head of Innovation, Swift

Nick is responsible for stewarding the innovation strategy, executing on the portfolio of innovation sprints, and leading the response to disruptive ‘new frontier’ trends such as digital currencies and tokenised assets.

Nick has a wealth of experience from over 20 years working in payments and banking across developed and emerging markets.

Prior to joining Swift in July 2020, he was Managing Director for Future Payments at Barclays, creating next-gen customer experiences and partnering with FinTechs.

His expertise is in digital payments, growth strategies and product development, grounded in behavioural trends.

Nick is a thought leader and financial sector influencer.

LinkedIn: https://www.linkedin.com/in/nick-kerigan
X/Twitter: https://twitter.com/Nick_kerigan

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GUEST:

BIO: Nick J. Maxwell, Head of the Future of Financial Intelligence Sharing (FFIS) research programme, at the RUSI Centre for Finance and Security.

The FFIS research programme focuses on international comparative analysis of public-private and private-to-private information sharing to tackle economic crime and is currently engaged in a major pan-EU project entitled, ‘Unlocking Article 75’.

Prior to this role, Nick led the Research and Advocacy team at Transparency International UK and was appointed to lead Transparency International’s global preparations for the London Anti-Corruption Summit in May 2016.

Before being involved in civil society research, Nick was an Intelligence Liaison Officer providing anti-money laundering specialist advice to a UK taskforce in Afghanistan. Nick’s early career included managing the International Economics Programme at Chatham House (the Royal Institute of International Affairs) and leading the public policy function at the Institute of Chartered Accountants in England and Wales.

LinkedIn: https://www.linkedin.com/in/nickjmaxwell/

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LinkedIn Live original video and event page: https://www.linkedin.com/events/7237779338346008576/

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