Automation of the Financial Investigations Unit Process

Our client, a major North American bank, wanted to empower its anti-money laundering (AML) investigators to increase their productivity. We transformed labor intensive, swivel chair-like processes into streamlined intelligence that increased accuracy and efficiency across the enterprise.

The Challenge

The process of investigating AML functions was labor intensive including manual searching through multiple internal and external systems, documenting the results, analyzing transaction activity, and writing summary reports to document the findings and recommendations.

Due to the complexity of the systems and steps involved, the average time per case was approximately 340 seconds with 45 to 50 files generated for each case. This led to extended customer wait times and a high volume of data susceptible to inaccuracies derived from manual work prone to human error.

The Solution

We implemented automation for end-to-end processing across a wide range of applications such as Mantas, RRS, KYC, Google, Hogan mainframe, and LexisNexis for web services. Moving audits and notifications from manual to automated workflows brought the average case handling time down from 340 seconds to 86 seconds.

The Benefit

~75% faster case processing
Higher productivity delivering benefits equaling 12 FTEs
Data accuracy hit the target with 100% consistency

Automation of the financial investigations unit process

The process of investigating AML functions was labor intensive including manual searching through multiple internal and external systems, documenting the results, analyzing transaction activity, and writing summary reports to document the findings and recommendations.

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