Large Regional U.S. Bank Enhances Customer Profiling to Combat Financial Crimes
公司规模
Large Corporate
地区
- America
国家
- United States
产品
- Precisely Spectrum Entity Resolution
技术栈
- Entity Resolution
实施规模
- Enterprise-wide Deployment
影响指标
- Cost Savings
- Customer Satisfaction
技术
- 应用基础设施与中间件 - 数据交换与集成
- 分析与建模 - 预测分析
适用行业
- 金融与保险
适用功能
- 商业运营
用例
- 欺诈识别
- 监管合规监控
服务
- 系统集成
关于客户
The customer is a large regional U.S. bank with a history of over 100 years, serving consumers and businesses across more than a dozen states. Known for its acquisitive approach to growth, the bank has consistently expanded its reach and services. It is recognized for providing top-tier customer service, which is a cornerstone of its operations. The bank's extensive network and diverse customer base require robust systems to manage financial transactions and ensure compliance with regulatory standards. As a financial institution, it faces the ongoing challenge of adhering to anti-money laundering (AML) and Know Your Customer (KYC) regulations, which are critical for maintaining its reputation and operational integrity.
挑战
A large regional U.S. bank faced regulatory scrutiny due to insufficient management of Know Your Customer (KYC) requirements and failure to report suspicious activities. The bank's account-centric approach to transaction risk assessment led to an overwhelming number of alerts, most of which were false positives. This approach prevented the bank from accurately gauging the risk of individual customers across multiple accounts, as some customers held accounts under different names due to data-entry errors or intentional obfuscation. As a result, investigators were overwhelmed by the volume of alerts, and real lawbreakers often went undetected.
解决方案
The bank implemented Precisely Spectrum Entity Resolution to consolidate customer data across all accounts associated with an individual. This solution integrates with the bank's existing systems, allowing for a comprehensive view of each customer by pulling information from CRM systems and other databases. The Entity Resolution system compares customer data against common name variants, providing a holistic view that includes relationships across accounts and associations with shell companies. This consolidated data is then fed into the bank's screening and transaction monitoring systems, enabling a more accurate risk profile for each customer. The solution allows the bank to better segment customers by risk, improving the efficiency of its compliance efforts without the need to overhaul existing systems.
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