A large Nordic financial group has leveraged SymphonyAI to streamline their transaction screening and monitoring, achieving significant cost savings and operational efficiency. Faced with the challenge of reducing false positives that inflated costs and hampered productivity, the group sought a solution that wouldn’t compromise the identification of genuine risks. SymphonyAI developed a bespoke compliance product tailored to the group’s needs, refining matching techniques and significantly lowering false positives by 83%. This led to the removal of 24,000 alerts through the application of 15 match exclusion rules, resulting in substantial cost reductions and enhanced productivity. The partnership has not only resolved current issues but also positioned the financial group to better address future regulatory challenges and financial crime risks, with AI-driven innovations at the forefront of ongoing improvements.
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