Why Investigative Case Management Is So Important For Banks

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15 August 2017
Joan McGowan

Forget legacy detection systems integration. This has proven to be challenging, costly, frustrating for banks, staff and their customers, and a win for criminals.

In my latest report, Under the Spotlight: Innovative Vendors in Financial Crime Case Management Technology, I argue the point of fraud and AML data integration should be at the case management stage. Not too dissimilar to the failed CRM approach of the early 2000s, banks have stumbled over the convergence of large numbers of detection systems that have evolved as point solutions. Some of the larger banks report more than 30 AML and fraud detection systems across their organization. These systems have remained siloed along business lines and shaped their own data standards, data models, procedures, and controls for detection and case management of suspicious activities.

When integration fails, the bank's impulse is to increase its analysts, investigators, and compliance staff. This has proven unsustainable.

By adopting a centralized investigative case management system equipped with innovative technologies, banks can address operational production inefficiencies and quickly realize considerable benefits:

  • Increased productivity across financial crime risk management.
  • Greater transparency of financial crimes suspicious activities.
  • Improved governance and compliance.
  • Reduced rates of false alarms.
  • Reduced fraud and financial losses.
  • Reduced regulatory risk.

The report reviews a handful of innovative vendors, listed below, who are using emerging technologies such as AI, robotic process automation, and dynamic workflows to streamline alert and case management processes and reduce false positive rates.

  • FIS Global
  • IBM
  • NICE Actimize
  • Oracle
  • Pegasystems (Pega)
  • SAS
  • SAS has partnered with Jack Henry Associates

Effective case management of suspicious activities will go a long way to ease the frustration of investigators, compliance officers, law enforcement, and regulators. It will also free up investment dollars and resources earmarked for integration of legacy detection systems.


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Asia-Pacific, EMEA, LATAM, North America