Success Story:

Elevating Compliance and Screening
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Challenge:

The bank’s current screening procedures has significant challenges in automating processes, resulting in an increased reliance on manual work. This limitation not only hampers the efficiency of compliance management but also complicates the bank’s ability to adapt to evolving local and international regulatory demands.

Solution

We had to implement Real-Time Screening Solution which provides automated entity and transaction screening against major governmental and global watchlists to enable the bank to maintain compliance with local and international regulations and enhance its screening capabilities.

Business Result

  • Increased operational efficiency through automation and streamlining the screening process.
  • Minimizing false-positive, more accuracy in identifying the risks and enhanced decision making through the superior detection algorithms.
  • Reduced operational costs associated with manual interventions.
  • Improved the overall performance of the bank’s risk management process by moving the bank from “active” to “proactive” state of addressing actual risks through real-time insights.

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