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HCL sought to provide the client an integrated and rule driven compliance management solution to address the following challenges

  • Manual and time-consuming review of AML/CFT transaction alerts
  • Greater than 2500 transaction alerts per day and increased number of false positives
  • Frequent and intermittent downtime due to severe performance issues in the existing AML/CFT application
  • Inadequate capability for automated routing and workflow assignment
  • Limited traceability of customer transaction alert history

With HCL’s deep experience of the complexity of the AML and CFT business, applications, processes, reporting requirements etc. based on similar engagements with multiple global banking clients, a domain led Compliance And Risk Management (CARM) solutionwas built using Pega to comply with the bank’s requirement.

The verticalized solution using Pega to help banks in achieving regulatory compliance, building real time data aggregation and enhancing automation opportunities.

HCL was involved in the seamless integration of the Pega platform with bank’s existing systems apart from providing independent integration testing of the application.

Download the success story to know more about HCL's retail banking solution capabilities.