Customer Success Story Highlights
Client
- Leading British MNC bank
Challenge
- Lack of a robust, data driven framework for CDD & Sanctions Screening
Solution
- Optimum delivered a Predicative Analytics framework for automated Sanctions Screening
- Architected a fully-managed service by developing a sophisticated screening engine.
Benefits
- Enhanced de-risk of sanctions screening
- Enhanced automation
- Marked Reduction of sanctions approved from 2.6 days to 2 hours.
Client Overview
Client is a British multinational banking and financial services company headquartered in England. It operates a network of more than 1,200 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services.
Client is a constituent of the FTSE 100 Index with a market capitalisation of approximately £24.4 billion
Key Engagement Highlights
Team size
Peak Team of 40
Value
$4 million
Delivery location
On-site (Singapore) & Near Shore
Opportunity Context
- The client has initiated a global EDM (Electronic Data Management) Program focussed on provision of real-time data for decision making across consumer, corporate, institutional and retail banking functions for providing Predicative Analytics around Sanctions Screening functions and CDD function
- Client was looking for architecting and developing an Target Operation Model and Framework for predicative analytics for Sanctions Screening functions and CDD function
Business Challenge
- Client had incurred losses due to lack of CDD
- Sanctions being done without appropriate screenings against sanctions list
Key Solution Highlights
- Optimum delivered the engagement with predicative analytics framework for Sanctions Screening
- Architectured a fully-managed service by developing a sophisticated screening engine, regularly updated lists and industry-level security and, reliability using Data Science
- Automation of Sanctions Screening
- Automation of messages routing to a centrally-hosted filter for real-time matching and raising alerts using predicative analytics.
Benefits to Client
- Enhanced de-risk of sanctions screening
- Enhanced automation
- Reduction of sanctions approved from 2.6 days to 2 hours.
