Development of Sanction Risk Management Solution for a Global Bank

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%