Take a look at one of our success stories, from the Finance sector
VONA supported its customer by offering project management support for implementing an anti-money laundering solution. The customer intended to replace its current AML system with a new solution, and the purpose of our assignment was to improve the customer’s organisation and processes in order to better meet the current challenges surrounding anti-money laundering.
Assignment background and objectives
The customer’s stated requirements regarding the new solution were:
- Specify a solution to detect suspicious activity, based on new technologies and big data
- Develop an in-house solution for dealing with money-laundering warnings
Working method proposed by VONA
- Determine the overall scope of the project
- Identify the source data to be analysed
- Construct a datalake and business lake, to produce analysis scenarios
- Set up a team of data scientists tasked with creating scenarios for detecting suspicious activity and measure its effectiveness
- Review the workflow for dealing with laundering warnings and the associated roles through workshops
- Define and implement an internal system incorporating BPM (Business Process Management) functionalities and a new user interface
- Define and implement operational reports
- Put data governance in place (data descriptions, GDPR, etc.)
Client benefits from the assignment
- Compliance with current anti-money laundering regulations
- Greater agility in implementing new directives and adapting to new patterns of behaviour
- Substantial financial savings (30%) compared with a market solution
- Productivity gains in teams dealing with AML warnings
