Business challenge.

Banks can spend over $500 million a year managing anti-money laundering (AML) and Know Your Customer (KYC) processes. Failure to comply with regulatory requirements results in government fines and sanctions, as well as reputational damage.

The painstaking complexity of AML and KYC processes, spanning billions of transactions across multiple systems, teams, and institutions, makes them slow to execute and prone to errors. Collecting and analyzing suspicious activities for reporting takes hours for each flagged activity.

The automation + generative AI solution.

  • tick

    Launch automated investigation: Compliance analysts initiate an automated investigation using Automation Co-Pilot, seamlessly embedded within their primary apps.

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    Data aggregation and analysis: Automation Co-Pilot, powered by generative AI, collects and scrutinizes data from diverse sources like transaction records, CRM, web data, and watchlists to detect behavioral patterns.

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    Review and create SAR: After a comprehensive review, analysts utilize Automation Co-Pilot to create Suspicious Activity Reports (SARs).

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    Take action: Automation Co-Pilot triggers automated actions such as holding transactions or freezing accounts to minimize potential risks.

Expedite investigations and ensure compliance with automation and generative AI.

Business impact

100%

increase in investigation speed.

Unlock 70%

of compliance analyst’s time and resources.

60% higher

SAR filing rate and ensure compliance through due diligence.

Give compliance teams time back to focus on high-value activities to mitigate risks.

Increase investigation speed by 100% and complete 60% more SAR filings to FinCEN within the required timeframe.

customer
browser

Compliance analyst uses Automation Co-Pilot to launch investigation in banking case management​.

CASE DATA​
automategenerative AI
epic
  • checkmarkKYC data​
  • checkmark Customer records​
  • checkmark Transaction history​
  • checkmark Currency activities​
  • checkmark Regulatory reports​
  • checkmark Government sanction lists​​
  • checkmark External surveillance​
automate
database

Intelligent automation compiles data across apps and sources​.

Document Automation if needed​

Banking CMSsalesforceLexiDow Jones
automate
AI

Automation Co-Pilot flags suspicious activities along with other data to the analyst for additional review. After analysts determines this is indeed a fraud, then the analyst can initiate the SAR creation workflow via Automation Co-Pilot.​​​

generative AI
generative AI

Generative AI synthesizes, understands context.​

SUSPICIOUS ACTIVITY REPORT ​(SAR)​​

                                                    Document
  • checkmark Subject information​​
  • checkmark Suspicious activity info​​
  • checkmark Financial institution info ​
  • checkmark Filing institution’s contact ​
  • checkmark Fraud details​
  • checkmark Software details​
  • checkmark Regional specifications​
human interaction
Time

Timely and complete SAR filing to FinCEN within the required timeframe​.​

automate

Automation

human interaction

Human interaction

 Generative AI

Generative AI

 Generative AI

Automation Co-Pilot

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