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Development of Sanction Risk Management Solution for a Global Bank

Automates Screening Process to Reduce AML Risks, Increasing the Processing Rate of Transactions
09 February 2021
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Case study
Payments

Client Background

  • Our client is a leading multinational bank working with consumers, corporations, institutions for a broad range of financial products and services.
  • Due to manual intervention and false sanction screening, the payment straight-through processing (STP) rate was significantly affected, exposing the client to AML risks.

Xoriant Solution

  • We partnered with the client, demonstrating a strong financial domain knowledge and comprehensive technological experience.
  • Our technology experts performed end-to-end design, development, testing and delivery of the client’s sanction risk management and reporting system.

Key Benefits

  • Increased the payment STP rate with the upgraded sanction screening process. 
  • Reduced manual verification of transactions by 60%
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