Success Story:

SAS Anti-Money Laundering Modernization
2022
UAE
Financial Services

The People behing AI

Challenge:

The bank has been using an outdated legacy compliance solution, these systems were posing risks related to compliance, operational efficiency, and overall competitiveness. Addressing these challenges is essential to mitigate risks and ensure the bank’s adherence to regulatory standards.

Solution

We have embarked on a mission for that bank to become a cloud-based organization; in addition, consolidating and modernizing existing legacy compliance solutions while streamlining their eco-system to create greater operational efficiency across the board and comply with the regulatory standards.

Business Result

  • Improved operational experience by automation, from alerts and risk analysis to management and regulatory reporting that is derived to uplift in efficiency.
  • Ability to reduce false positives using AI models which led to tangible benefits, including reduced staff workload, cost savings, improved customer retention, enhanced decision-making, and risk mitigation.
  • Uplifted financial crime compliance capabilities.

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