be_ixf;ym_201911 d_16; ct_50

Case Study

Global Payment Processor

How a Global Bank Streamlines Complex End-to-End Data Testing for Regulatory Compliance
image
Case Study

How a Global Bank Streamlines Complex End-to-End Data Testing for Regulatory Compliance

Background

Per money-laundering and anti-terrorism regulations such as the Bank Secrecy Act, banks conducting business in the United States are required to identify, monitor, and report “suspicious activity” in a timely manner. This isn’t a simple matter of flagging all transactions over a certain amount. Rather, banks are expected to flag all large transactions that they “know, suspect, or has reason to suspect” are suspicious.

One global bank developed 70,000 different transactional use cases to accurately identify what they considered to be suspicious transactions. However, with their existing processes – which were predominantly manual – they could check only 24,000 scenarios in 24 hours.

Challenges
  • 70K transactional use cases to check
  • Existing processes could check only 24K scenarios in 24 hours
  • Just one overlooked suspicious transaction could incur fines in the 6-figure (USD) range
  • Several banks have already been fined millions of USD for compliance shortcomings
  • Complex validations across different data sources and layers – could not be automated with vendor-specific “data quality” tools

The Tricentis Solution: End-to-End BI/Data Warehouse Test Automation

To avoid falling behind and risking substantial fines, the company committed to leveling up the process with BI/data warehouse test automation. After exploring available options, the company reached out to Tricentis. They completed a pilot project to verify that the Tricentis solution could handle the complexity of their validation scenarios and apply them across the various data sources and layers that needed to be checked.

The two companies then collaborated to roll out a new approach that dramatically accelerates the process of identifying suspicious transactions … and also reduces the risk of overlooked threats.

Results
  • All 70K uses cases execute in less than 15 minutes
  • Suspicious transactions are identified in near-real time
  • 16X more transactions are being identified and reported

We knew that automation was key for proactively ramping up our compliance … we just didn’t believe it was possible to automate something so complex. Now, we’re much more confident that threats are being identified and reported almost as soon as the transactions occur. “

Director of Compliance