One of the top 10 largest banks in Spain, with offices across Europe, North, South, and Central America, is committed to using AI throughout its business.
The bank relies on SymphonyAI’s compliance solutions, however, rising transaction volumes and sophisticated financial crime tactics created new pressures. While existing systems provided a strong foundation, the bank sought to further reduce false positives and streamline investigator workloads.
Additionally, the institution was dealing with sanctions-specific issues, including high alert volumes that resulted from maintaining a high-risk tolerance. At the same time, its expansion into new markets via acquisitions meant that rules were increasingly difficult to tune effectively.
With regulatory expectations intensifying and operational costs under scrutiny, management turned to SymphonyAI to explore how AI could augment current tools and keep pace with its ambition.
Building on its existing SymphonyAI deployment, the Spanish bank started using SensaAI for Sanctions. This AI overlay integrates seamlessly with current platforms, applying advanced generative and predictive AI to:
Enhance detection accuracy: using generative AI to analyze unstructured free text before applying predictive AI models that significantly improve match accuracy.
Prioritize high-risk alerts: With an AI Score and AI match explanation for every alert, reducing noise and focusing investigator efforts.
SymphonyAI collaborated with the financial institution’s compliance teams to fine-tune SensaAI’s models. The focus was on optimizing match accuracy while preserving the bank’s trusted workflows.
Early data from using SensaAI for Sanctions signals transformative potential. With the technology, the bank has achieved:
91.8% reduction in false positives across transaction and customer screening, freeing investigators to focus on genuine risks.
Vast improvement in alert prioritization accuracy, accelerating case resolution times.
Marked increase in productivity as investigation teams benefit from AI Scores and match explanations for every alert.
These early success metrics are projected to translate into significant annual cost savings for the bank through reduced manual workloads and operational efficiencies. Equally important are the anticipated strengthened compliance outcomes, which fosters trust with regulators and customers alike.
By layering SensaAI onto its SymphonyAI foundation, the bank aims to set a new benchmark for intelligent, scalable financial crime prevention that improves its approach to compliance while also highlighting their approach to innovation and safeguarding customers.
With a Proof of Value (PoV) for SensaAI for AML forthcoming, the bank is committed to deploying more innovative AI solutions to further improve risk detection, reduce costs, and drive greater operational efficiency as they approach Always-on Compliance.
Want to know more? Get in touch to see how SymphonyAI can transform your compliance operating model.
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