Wholesale Banking Screening & Alert Management

Enhance AML Alert Investigations and Case Management with Seamless Automation and Smart Screening.

This accelerator is designed to optimize Anti-Money Laundering Alerts (AML) investigations and case management within wholesale banking. Integrating seamlessly with existing AML applications, it streamlines the sanction screening process while automating the handling of false positive scenarios, true match scenarios, and alerts with insufficient information.

The primary beneficiaries of this accelerator are AML analysts, AML senior analysts, and global banks. AML analysts can expect reduced investigation time and fewer redundant tasks, while AML senior analysts will review a limited number of Alerts, saving time and increasing overall productivity. Banks will benefit from enhanced compliance, improved accuracy, and reduced risk of penalties, as manual errors are minimized, and true positive alerts are less likely to be missed.

This accelerator addresses the challenges posed by the significant manual effort involved in identifying, monitoring, validating, reporting, and executing decisions for sanction checks in the wholesale banking sector. It also tackles the critical need for compliance, where errors resulting from manual work can lead to substantial fines and penalties. By providing an automated solution, this accelerator helps banks maintain compliance and achieve increased accuracy.

The end-users of this accelerator should anticipate faster processing times for closing AML Alerts, improved accuracy in identifying true positive alerts, and the automation of repetitive and monotonous processes, leading to reduced employee churn.

The code in this accelerator processes AML Alert Investigations in this progression:

1. Scans real-time alerts and opens them in an AML application for sanctions screening.
2. Matches customer attributes during the sanctions screening process including goods, port destination, country, etc.
3. If no attributes match, the automation provides the reason on a summary screen and closes the alert.
4. On an initial positive match, the automation checks for additional attributes. If there is any match, it assigns the alert to a Senior Analyst using UiPath Action Center for confirmation of true positive and PEP (Politically Exposed Person) match.

• Real-time scanning for generated AML Alerts and automated processing of the AML Alerts screening process.
• Automated matching of customer attributes and accurately identifying false/true positive Alerts to effectively close them.
• Automated preparation of customer due diligence (CDD) case files.