Banking’s Future in the Crypto-sphere

Are crypto assets, blockchain and emerging technologies fundamentally transforming the world of financial crime and finance?

Despite recent market disruption and lingering fraud risks, crypto remains an increasingly popular alternative to traditional banking for many. Around 22 percent of American adults have invested in, traded or used cryptocurrencies. As it continues to grow in popularity, crypto has the potential to greatly affect the relevance of fiat cash… which in turn would greatly affect traditional bank stability.

Currently, decentralized financed (DeFi) platforms associated with crypto are difficult to govern. As crypto becomes more mainstream, it’s important that regulators, as well as the “traditional” financial sector, acknowledge that old compliance processes and regulatory approaches may no longer be effective.

In this free-wheeling conversation with SymphonyAI Sensa CEO Simon Moss, we explore the impact of crypto on the banking sector, its potential to undermine or even replace fiat currencies, and the way lines are blurring between banks and crypto. Most importantly, we shed light on how the march of crypto impacts financial crime compliance, and the tools and training needed to stay ahead of the curve.

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