SAS® Anti-Money Laundering

Mitigating AML risks, reducing number of false positives, complying with AML regulations across different markets, incorporating best practices in data management

Mitigating AML risks, meeting regulatory requirements of different markets, improving data governance.

Rozwiązanie • SAS® Anti-Money Laundering

Customer profile

IPF is a leading international home credit and digital provider of simple, personalized financial solutions, specializing in small sum, unsecured consumer loans and lines of credit. IPF’s multi-brand, product and channel offering aims to cater for a wide variety of customer needs and market requirements.

Business need

Lack of a centralized AML system caused many problems with data and case management during specific steps in the AML process. The main business need was to monitor growing transaction volumes across numerous markets in such a way as to mitigate potential risks. IPF needed to replace its legacy spreadsheet-based system with an automated AML solution capable of efficiently detecting and successfully preventing AML risks.

Solution

IPF chose to implement SAS Anti-Money Laundering. This powerful, easily customizable solution was delivered jointly by SAS and Consortix. It was necessary to customize thresholds for rules in individual markets in order to remain compliant with different regulations in specific markets. Among key SAS software solution features which proved decisive for selecting this platform, are the following:

Flexibility - open box environment for end-user authoring and modification of scenarios
Multitenant architecture - a single installation of the software serves multiple subsidiaries or jurisdictions by segregating the data
Intuitive, user-friendly, web-based interface for analyzing alerts giving investigators a holistic view of work items
Availability to business users through the user interface of scenario management functionality, threshold tuning, ability to add and test new ones.

The implementation proved complex and time-consuming due to unexpected data preparation challenges. Once datasets were ready for export and rules were customized, IPF’s fight against money laundering gained desired momentum.

Benefits

Many AML risks have been mitigated and alerts centralized. There is one tool for transaction and customer behavior monitoring. False positives have been significantly reduced and IPF gained better understanding of their customers’ behavior. AML Analysts benefit from an easy-to-use, intuitive platform and Data Analysts from a unified data ecosystem. IPF is well prepared to remain in synch with the ever changing regulatory environments in its various markets of operation.

Overall cooperation with SAS was a real pleasure. Answers to our questions and doubts have been delivered quickly, in fully understandable form. IPF Analysts are common guests at SAS conferences and trainings, which allows us to stay up to date with knowledge about SAS solutions and their potential.

The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.

SAS® Anti-Money Laundering

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