Enhancing Compliance & Efficiency

i3labs

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About the Client

The client is a prominent financial institution based in the southeastern region, boasting an impressive $150 billion in assets. It operates a vast network of subsidiaries and maintains a presence with 1,400 branches spanning across 11 states in the Southeastern region. Headquartered in the vibrant city of Atlanta, Georgia, this client offers a wide array of financial services, including corporate and investment banking, capital market solutions, mortgage banking, and wealth management. This diverse portfolio is managed by a dedicated workforce of nearly 24,000 employees.

The client is battling several federal audit compliance issues on timely filing of SARs.
Delayed processing of AML cases due to manual processes and handovers.
Lack of a centralized workflow with systems that run on Excel.
Timely communication between victims and interested parties with periodic updates.
Unable to recover hard debts incurred as fines or court ordered restitutions

0 failed internal FinCEN simulated audits
Proactive alerting and monitoring of all financial transactions that are subject to FinCEN guidelines.
Ability to repurpose 20% of the workforce due to automated workflows and handshakes across the business units.
Improved recovery rate of 50%.

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