Top Three US Commercial Bank Automates Rescreenings

Top three US commercial bank wanted to increase the speed and volume of new business applicant processing and institute ongoing entity monitoring.

• Internal investigators utilized a single data vendor that matched entities and returned full set of results for further internal processing 24 hours later.
• The de-duping process for one entity could last up to several hours and was not standardized.
• Approximately 200 entities investigated per day by an outsourced team of 10-15 professionals.
• Monitoring occurred haphazardly at 3 month, 6 month and/or 1 year intervals, depending on when internal scheduling and resource bandwidth permitted.