The Expansion from Customer Service Into Financial Crime Prevention
Customer Company Size
Large Corporate
Region
- Europe
Country
- United Kingdom
Product
- Aptean Respond
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Fraud Detection
Services
- System Integration
- Training
About The Customer
St. James’s Place is a wealth management company established in 1991. It provides advice on building capital, managing money and businesses, and protecting against financial risk. The company is a FTSE 100 company which provides wealth management and financial planning solutions to individuals, trustees and organisations. St James’s Place Wealth Management’s Financial Crime Prevention Team manage the corporate responsibilities for all aspects of financial crime prevention. Part of this involves the logging and maintenance of an effective record keeping system to help meet this requirement.
The Challenge
St. James’s Place Wealth Management, a FTSE 100 company, was struggling with managing their financial crime prevention cases. They were using a combination of Excel spreadsheets and email to manage their case workload. The case data was spread across multiple spreadsheets, making it difficult to find critical information. The manual process of logging and tracking cases was inefficient and prone to errors. The team had limited ability to control access to sensitive information, which was not ideal for storing the sensitive information found in financial crime cases. The team needed to pull Management Information (MI) and reports based on the data in their spreadsheets, which was time-consuming, subject to human error, and resulted in inconsistencies.
The Solution
St. James’s Place decided to implement Aptean Respond, a case and feedback management solution, to manage their case workload. The system went live just three months after the requirements gathering was finalised. The transition to Respond was smooth, with St. James’s Place working alongside their Aptean Account Manager to ensure a smooth installation. The team received training sessions from Aptean’s Customer Solutions team so they were well placed to immediately start logging and investigating cases in the system. Respond allows the team to set up tasks for them to review in an allotted timeframe, such as in 6 months, ultimately helping St James’s Place to meet their regulatory requirements. Reports can be set up in Respond to export only the data necessary, and so with a click of a button St James’s Place can have a full report ready for disclosure to the authorities.
Operational Impact
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Safety First with Folksam
The competitiveness of the car insurance market is driving UBI growth as a means for insurance companies to differentiate their customer propositions as well as improving operational efficiency. An insurance model - usage-based insurance ("UBI") - offers possibilities for insurers to do more efficient market segmentation and accurate risk assessment and pricing. Insurers require an IoT solution for the purpose of data collection and performance analysis
Case Study
Smooth Transition to Energy Savings
The building was equipped with four end-of-life Trane water cooled chillers, located in the basement. Johnson Controls installed four York water cooled centrifugal chillers with unit mounted variable speed drives and a total installed cooling capacity of 6,8 MW. Each chiller has a capacity of 1,6 MW (variable to 1.9MW depending upon condenser water temperatures). Johnson Controls needed to design the equipment in such way that it would fit the dimensional constraints of the existing plant area and plant access route but also the specific performance requirements of the client. Morgan Stanley required the chiller plant to match the building load profile, turn down to match the low load requirement when needed and provide an improvement in the Energy Efficiency Ratio across the entire operating range. Other requirements were a reduction in the chiller noise level to improve the working environment in the plant room and a wide operating envelope coupled with intelligent controls to allow possible variation in both flow rate and temperature. The latter was needed to leverage increased capacity from a reduced number of machines during the different installation phases and allow future enhancement to a variable primary flow system.
Case Study
Automated Pallet Labeling Solution for SPR Packaging
SPR Packaging, an American supplier of packaging solutions, was in search of an automated pallet labeling solution that could meet their immediate and future needs. They aimed to equip their lines with automatic printer applicators, but also required a solution that could interface with their accounting software. The challenge was to find a system that could read a 2D code on pallets at the stretch wrapper, track the pallet, and flag any pallets with unread barcodes for inspection. The pallets could be single or double stacked, and the system needed to be able to differentiate between the two. SPR Packaging sought a system integrator with extensive experience in advanced printing and tracking solutions to provide a complete traceability system.
Case Study
Transforming insurance pricing while improving driver safety
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
Case Study
Enhancing Security and Compliance in Remitly's Global Money Transfer Service with Fastly
Remitly, an online remittance service, was faced with the challenge of securing its proprietary global transfer network. The company needed a security solution that could meet PCI requirements and protect customers' sensitive transactions through its mobile application. The solution had to be capable of defending against new and emerging attack types without impacting performance. Remitly also had to deal with irregular traffic patterns, such as a sudden spike in account transfers from a small network segment on the Pacific coastline of South America. The company needed to determine in real time whether such traffic indicated an attack or valid requests. A traditional web application firewall (WAF) would not be able to distinguish this traffic, potentially leading to customer frustration if the IP was blacklisted.
