Solutions for Banks

Apply financial crime risk benchmarking to cut through organisational friction and noise

See it in action!

A 360-degree financial crime risk quantification platform to identify, mitigate, and price financial crime risk exposure in real-time, for your bank, and for everyone you do business with.

Enhance regulatory compliance, automate EDD and customer onboarding with confidence, prospect new business and incentivise your business relationships in proportion to the financial crime risk they carry

Learn how our automated, data-driven approach can help your bank balance risks with growth.

$1.5 Trillion
spent annually by banks to unsuccessfully combat financial crime
$8 Billion
in AML fines issued to banks in 2019, with USA and UK leading the charge
1 Million
relationships on average for nearly 1 in every 5 (16%) banks globally

Leverage the most comprehensive financial crime mark-to-market to mitigate risks and drive growth

The case

A top European bank uses the EFI to analyse transactional activity for all its counterparties and affiliates.

The EFI's results validate and educate the clients' existing risk models while supporting the compliance teams focus on specific triggers and types of risk e.g. Geographic footprint. The client has gained substantial transparency and insight into some of their highest risk FI clients, enabling decisions around what to exit and what to retain with meaningful and auditable monitoring

60x

The analysis of historic transactions showed that over three years, there was a 60 times increase in our client's exposure to specific patterns of high-risk transactions involving a counterparty bank in Malta. Because the increase was gradual, existing monitoring algorithms had failed to account for the changes in inactivity.

The result

The client used our analysis to decide that certain counterparties were resulting in unacceptable levels of risk/rewards ratio. As a result, the client concluded two counterparty relationships.

Manual and Subjective Processes are grossly ineffective at tackling Financial Crime Risk

3.1%

of respondents believes effectiveness will be improved if all staff is well trained for financial crime risk

For banks, the number of customer and third part relationships are exploding in numbers and associated data and complexity

More than
1 million

Nearly 1 in 5 banks have over one million external relationships globally

Despite heavy investments, the fines keep coming, & illicit payments continue unhindered

More than
US$ 8 billion

in AML fines handed out in 2019, with USA and UK leading the charge

What can banks do with EFI?

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Automate own risk assessment

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Better monitor my affiliates

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Automate Enhanced Due Diligence on FIs

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Replace site visits on FIs

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Implement differential pricing based on risk

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Review portfolio

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Lower CB compliance costs

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Automate board reporting

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Monitor my compliance programme continuously

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Prospect new clients at low costs

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Expand my portfolio of FI clients

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Strengthen my correspondent relationships

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Offer better products to my clients (i.e. nesting/currency)

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New correspondent relationships

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Lower compliance cost

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Lower payment costs

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Be competitive in the market

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Strengthen my regulatory relationship

Our solutions for banks

Find the solution for what you need

Automate my risk assessment

Better monitor my affiliates

Automate Enhanced
Due Diligence on FIs

Implement differential
pricing based on risk

Prospect new clients at low costs

Expand my portfolio of FI clients

Strengthen my
correspondent relationships

Offer better products to my clients
(i.e. nesting/currency)

New correspondent relationships

Lower compliance cost

Lower payment costs

Be competitive in the market

Strengthen my regulatory relationship

Want to know more about the EFI features?
Book a demo with us now!

Not a bank?