Challenge:

A leading global bank required a technology solution to help with the complexity of managing global regulatory and compliance requirements, including anti-money laundering (AML), sanctions screening, and Know Your Customer (KYC) regulations. The bank had to comply with different regulations in different regions, and the lack of a centralized system resulted in inefficiencies and inaccuracies.

Solution:

Scadea implemented a Pega-based solution to automate and streamline the bank’s compliance processes. The solution integrated with various data sources, such as customer databases and transaction monitoring systems, to provide a comprehensive view of customer risk. It also allowed for real-time monitoring of transactions and alerts for suspicious activity.

Results:

The Pega-based solution improved the bank’s compliance efficiency and accuracy, reducing false positives and increasing the accuracy of risk assessments. It also allowed for better tracking and reporting, enabling the bank to demonstrate compliance with regulations to auditors and regulators. The solution provided a single source of truth for compliance data, improving collaboration and transparency across the organization.