【WikiEXPO Global Expert Interviews】Alexandra Will: The Next Chapter of Risk Management

As WikiEXPO Dubai concludes successfully, we had the pleasure of interviewing Alexandra Will – Partner, Risk Advisory, Financial Crime Compliance, Grant Thornton UAE.

Alexandra leads Grant Thornton UAE‘s Financial Crime Compliance Advisory practice. She brings over 18 years of experience within consulting and industry in financial crime/compliance risk management, with a strong focus on AML/CTF and Sanctions. Her career spans multiple regions, including the UK, Europe, APAC, and MENA. Alexandra has supported a wide range of regulated financial institutions in the UAE including FinTechs, SVF/RPSCS providers, virtual asset providers in addition to banks, brokerage firms, and exchange houses in the development and strengthening of their AML Programs. She is known for providing clients with clear and practical solutions tailored to firm’s size and risk profile.

Q1: You have nearly two decades of experience in AML, sanctions, and financial crime compliance. What major shifts have you seen in the way institutions approach risk management in the digital age?

Alexandra Will: Early on in my career, risk management felt a bit like trying to find a needle in a haystack - lots of paperwork, slow processes, and hoping you didn‘t miss something important. And that was despite working in a global bank that was ahead of the curve in many aspects. Today, it’s more like using a magnet: technology provides the tools to spot risks quickly and accurately, if applied correctly. With the right investments, institutions can incorporate AI, big data and increasingly blockchain, to proactively monitor transactions and manage risks in real time.

In the UAE, there is ongoing strong and fruitful dialogue between the regulators, regulated entities, including banks, fintech firms, virtual asset providers, and other industry players, such as solution and professional services providers like Grant Thornton. This dialogue encourages collaboration, joint problem solving and creates better outcomes.

From my perspective the message is clear - lets continue pushing for more collaboration and innovation - reach out, share your experiences, and help shape the next chapter of risk management together.

Q2: How do you view the emerging compliance challenges facing fintechs and virtual asset providers compared to traditional banks?

Alexandra Will: Fintechs and crypto firms are rewriting the rules of how business is done. They move fast, they intentionally look for ways of doing things differently, and their products are innovative and unique. For compliance functions that is challenging but at the same time compliance professionals are attracted to exactly this challenge. Compliance teams are lean, and often with a technology rather than compliance background.

Traditional banks face challenges such as operational inefficiencies, disjointed legacy systems and associated data challenges and the slow pace of change. Fintechs and VA providers are faced with a very different set of challenges – regulations are still pre-dominantly written for traditional banking models, and third party vendor solutions are likewise tailored for traditional replicable models. Many fintechs therefore end up building their controls inhouse – and then need to find out how to explain their solutions to the relevant regulators.

For example, a project I worked on with a European fintech to develop their AML controls. It was almost like building the plane while flying it. The key is staying flexible, learning from both the old and new worlds, and making sure innovation doesnt outpace risk management.

I am very passionate about this topic - if you‘re a fintech or virtual asset provider, don’t hesitate to reach out to have a chat and share your challenges. Together, we can build compliance frameworks that truly support growth and innovation.

Q3: What innovations or regulatory frameworks do you believe will most influence the future of financial crime prevention in the UAE and wider MENA region?

Alexandra Will: It‘s an exciting time for financial crime prevention in the UAE and MENA. New laws, smarter tech, and a real focus on digital assets are changing the game. Regulators are working with banks and fintechs to test new ideas - AI for monitoring, blockchain for transparency, and sandboxes for safe innovation. I’ve seen firsthand how these changes help firms stay ahead of criminals and build trust with customers. The future is about working together, sharing knowledge, and making compliance part of the business, not just a box to tick. Its a bit like upgrading from a basic alarm system to a smart home security network - more connected, more responsive, and much harder for bad actors to slip through.

Q4: WikiEXPO attracts financial regulators, fintech pioneers, and compliance experts. How do you see its role in fostering dialogue between innovation and regulation?

Alexandra Will: Events like WikiEXPO are where the magic happens - regulators, tech innovators, and compliance pros all in one room, sharing ideas and tackling tough questions – all passionate about a common goal. It‘s not just about speeches; it’s about real conversations that help everyone understand each other‘s challenges. I love seeing how these events spark new partnerships and practical solutions. In Dubai, where change is happening fast, WikiEXPO is the perfect place to connect, learn, and shape the future of finance together. It’s a bit like a roundtable where everyone brings their own puzzle piece, and together we build a clearer picture of what safe, innovative finance should look like.

Whether youre an innovator or a regulator, get involved - share your insights, ask questions, and help drive meaningful change at events like WikiEXPO.

About WikiEXPO Global Expert Interview

As the organizer of WikiEXPO, WikiGlobal is committed to fostering international dialogue and cooperation through offline exhibitions. By engaging with global experts on financial regulation, technology, and governance, WikiGlobal aims to enhance the integration of fintech and regtech, improve regulatory efficiency and accuracy, and promote industry self-discipline. Through these efforts, we encourage financial institutions to adopt best practices, build a more transparent and resilient ecosystem, and ultimately create a safer trading environment for investors worldwide.