Case Studies

Accuity’s Private Label Program
The organization on which this case is built is an eastern U.S.-based diversified financial services company that provides a broad range of retail banking, brokerage, asset and wealth management, corporate and investment banking products and services to customers through its more than 3,000 retail financial centers throughout the United States. The company also has a U.S. presence through such business lines as its retail brokerage and auto finance businesses.

Compliance Screening Process Review and False Positive Match Reduction
Compliance and risk policies are dynamic. Ensuring compliance processes, systems and results are appropriately aligned can be a challenge. A European private bank and asset management firm engaged Accuity's Strategic Services Group to identify opportunities for improvement including standardized solutions to support new policies. As a result, the firm realized nearly 55% less false positive matches requiring research and disposition.

Compliance System Integration and Process Review
A top tier investment bank with over $225 billion in assets under management, wanted to integrate a newer version of its Accuity compliance software used to screen various entity files and payment transactions. The firm wanted to incorporate additional caution lists into its compliance screening process. In addition to the systems integration, the firm sought a review of its filter rules and compliance processes currently in use. The objective was to identify and execute improvement opportunities that further strengthened its compliance and optimized the firm’s personnel resources responsible for researching and dispositioning system-generated matches.

Currency Reporting and AML Workflow Review
Bank Secrecy Act and Anti-Money Laundering compliance can be challenging for any organization. Ensuring consistency across four separate financial institutions…even more difficult. A regional bank holding company sought Accuity’s help to ensure workflows and software were being utilized to capacity and identify any gaps and opportunities. Accuity’s Strategic Services Group identified the necessary steps to align the practices of each of the four institutions under one umbrella policy. Once implemented, these steps had immediate impact—more accurate and complete filings using significantly less time from compliance staff.

Easing Burdens Without Sacrificing Quality
Although First Interstate Bank was successful enough to produce $4.3 billion in assets it struggled with the costly burdens of frequently researching and verifying payment routing information. Accuity’s global coverage of bank routing information was the key to maximizing First Interstate’s operations: saving the business time and money.

Improving Process Flow and Reducing Manual Research
Without appropriate anti-money laundering and OFAC compliance procedures, a top 25 U.S. commercial bank was burdened with excess manual research and dispositioning of their transactions and sought out external expertise for assistance. Accuity’s Strategic Services Group analyzed current processes and made recommendations that provided a best practices approach resulting in improved process flow and reduced workload for their compliance staff.

Meeting Challenges of the IBAN Standard
Taking advantage of the payment straight through processing benefits of IBANs and the cost savings of SEPA regulations was elusive to a major European financial institution. However, after employing the unmatched data of Accuity’s IBAN Solution the organization realized payment accuracy like never before.

Payment Processing to Optimize Casino Operations
Casinos process thousands of transactions everyday. As such, their need for reliable and cost-efficient payment processing is of the utmost importance. Two of Accuity’s Payment Solutions were implemented into the payment processing operations of a Las Vegas casino with marked results.

Powerful Multi-Point Security Screening
Identification screening is an essential function of any money services business. Not only is customer and transaction screening mandated by U.S. regulations, such as the Bank Secrecy Act and the USA PATRIOT Act, it is elemental to maintaining an impeccable reputation. When an MSB, which specialized in money transfers to high-risk countries, needed dependable risk management help it turned to Accuity for solutions that beat the standards for compliance and due diligence.

Solid Payment Processing Solutions for Government
Much like corporations, federal, state and local government agencies require economical, yet dependable solutions to address the myriad of issues that stem from their constituents’ electronic payments. By providing a solution that verified routing information and reduced manual interventions, Accuity significantly reduced processing errors while boosting a municipal government’s operational efficiency.

Streamlined PEP Screening
Sumitomo Mitsui Banking Corporation (Europe) (SMBCE), the European division of a top five Japanese bank with over US$850 billion in assets, recently implemented a new solution for Politically Exposed Persons (PEPs) and caution list screening to better support its anti-money laundering operations. The firm jointly developed the solution in partnership with another company after finding no suitable platforms in the marketplace that met its particular requirements.