- Overview
- Financial Crime Compliance (FCC) solutions
Financial Services Solutions user guide
The importance of Financial Crime Compliance
Financial Crime Compliance (FCC) is the bank's frontline defense against money laundering, terrorist financing, and sanctions evasion. By screening customers, monitoring payments, and investigating suspicious activity, these teams stop illicit funds from flowing through the financial system. Strong AML controls are not only required by regulators but are essential to national security, global financial stability, and maintaining customer trust. Failures can lead to billion-dollar fines, reputational damage, and restrictions on business. Accurate AML execution also provides intelligence to law enforcement, helping disrupt criminal networks and prevent terrorist activity.
Our Financial Crime Compliance solution helps the AML & Risk functions optimize their day-to-day activities, including:
- Name screening alert review
- Transaction screening alert review
- Adverse media monitoring (negative news)
Core industry challenges and drivers for the Financial Crime Compliance solution
Our Financial Crime Compliance solution is designed to address common industry challenges:
- Compliance officers spend most of their time investigating manual alerts and maintaining documentation. FCC agents now automate these workflows, freeing up that time for strategic tasks.
- Legacy transaction monitoring systems generate false positive rates exceeding 95%. FCC agents enable automated dispositioning, making those alerts operationally irrelevant.
- Other challenges include:
- Backlog build-up due to sustained alert volumes and manual review processes.
- Client onboarding delays caused by capacity constraints within compliance teams.
- High staff turnover driven by repetitive, high-pressure investigative work.
- Operational burden from dispositioning high volumes of false positives, when the risk is low.
- Fear of missing true positives, as analysts balance speed, accuracy, and regulatory expectations.
- Lack of narrative quality and consistency across workflows.
- Regulatory actions such as matters requiring attention (MRAs), deferred prosecution agreements (DPAs), prosecutions, pleas, or consent orders.