Enhancing Compliance and Efficiency in a Prominent Financial Institution

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%.