Success stories

Streamlined Compliance for Cooperative Bank using Automated Anti Money Laundering Solution

Written by Admin | Jul 15, 2024 4:38:16 AM

A prominent Indian cooperative bank serving 20,000 customers with eight branches and $11 million in deposits faced challenges complying with the Reserve Bank of India's (RBI) Anti-Money Laundering (AML) guidelines. Their unstructured KYC process hampered customer onboarding and transaction monitoring, while limited data analysis capabilities hindered compliance efforts and necessitated manual report generation.