Legacy technology can be a significant barrier to efficient operations in anti-money laundering and financial crime compliance. Banco do Brasil modernized their sanctions operations by installing a new, state of the art screening solution to strengthen compliance, risk mitigation, and speed to market.
Banco do Brasil’s legacy screening solution generated high volumes of false positives that were time consuming to resolve, exposing the bank to regulatory and reputational risks. To overcome these challenges, the bank decided to implement a new sanctions screening solution at its overseas branches. After a rigorous search, Banco do Brasil selected Napier AI’s transaction screening solution, deploying it on Microsoft Azure. The bank’s new solution has transformed its sanctions screening operations and reduced false positives by more than 90%; given compliance users ownership over screening configuration and testing; and simplified deployment across business units.
See webinar link below for a video interview with Deborah Feitosa, General Manager, Cross Border Payments, Banco do Brasil and Fernando Mandolini, Regional IT Manager, Europe, Banco do Brasil.
