FI Unit Technology

VALUE PROPOSITION

Modernizing the bank retail and SME operations, by shifting to modern, service-based, infrastructures
Demonstrating significant increase of screening effectiveness and efficiency
Reconciling multiple information systems, in order to provide a clear and cohesive picture to the regulator

Next-generation Financial Intelligence Unit PaaS – demonstrating advanced data source integration and rapidity of deployment, outperforming legacy systems using paid sources

BACKGROUND

Leading global top-15 bank subject to repeated regulator investigations due to inconsistencies

Fierce competition by both existing and challenger banks

Ineffective and inefficient legacy infrastructures

TARGETS

Deploying a complete server-less, SaaS based compliance infrastructure within 3 months, fully compliant with GDPR and FI’ information security and data security policies

A completely “vendor independent" infrastructure, allowing the bank FinCrime team to independently integrate and operate existing data and technology assets

ADDRESSING THE NEED

Fully automated screening and alerting, offering sub-second response time to any scale of operation
Increasing accuracy from 89% to 99.7% while decreasing noise by 53% using existing data assets
Significantly lowering OPEX, with minimal CAPEX impact
Expanding platform to include Event Driven Reviews and Payment Screening applications

To read more about ELEMENT™ of Compliance CLICK HERE

Other Use Cases

Bank Compliance

A global bank addresses the risks and costs of conventional data sources and fragmented approaches to KYC and AML. Using BlackSwan’s ELEMENT™ of Compliance, operational costs are reduced by over 50% and highest-priority risks are given full attention within a comprehensive situational context.[...]

AI OS for Financial Institutions

Modernization of a tier-1 bank replacing multiple legacy systems with PaaS based applications – demonstrates multi-purpose, digital transformation inside a highly regulated data-intensive organization and as an OEM[...]

Document Exploitation

Enablement of tier 1 international bank to more efficiently extract entity information from internal and external documents, by utilising text analytics [...]

Third Party Risk Management

Modernisation of a world-leading managed service provider offering third party risk management solutions, by automating workflows and increasing integration to reduce administrative burden [...]