1 / 9

core-banking-flexcube-aml-case-study-solutions

A leading banking institution faced the<br>challenge of integrating its core banking<br>system, Flexcube, with an external Anti-Money<br>Laundering (AML) system. The goal was to<br>streamline the customer onboarding process<br>while ensuring strict regulatory compliance.

apiconnects
Download Presentation

core-banking-flexcube-aml-case-study-solutions

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Integrating Core Banking with AML System for Smarter Customer Onboarding A case study by API Connects

  2. Table of Challenge Introduction Client Goals Contents Integration Solution Maker-Checker Workflow Implementation Integration Outcomes Why API Connects?

  3. Challenge Introduction A leading banking institution faced the challenge of integrating its core banking system, Flexcube, with an external Anti-Money Laundering (AML) system. The goal was to streamline the customer onboarding process while ensuring strict regulatory compliance. This project demanded a solution that automated processes and adhered to compliance standards.

  4. Client Goals The integration should result in: A robust, automated solution for onboarding. Seamless regulatory compliance at every stage. Enhanced customer experience with efficient processes.

  5. Integration Solution Our Approach: Our Aotearoa-based team successfully integrated Flexcube with the external AML system. Key actions included: Customizing the Flexcube user interface to enable seamless AML request processing. Automating the capture and processing of AML responses for faster operations.

  6. Maker-Checker Workflow Implementation A maker-checker workflow was implemented to ensure compliance and process efficiency: Allowed bank personnel to review and act upon AML results. Enabled the activation or deactivation of customer accounts based on AML responses. Reduced manual errors while enhancing compliance.

  7. Integration Outcomes Milestones achieved: Streamlined the customer onboarding process. Ensured compliance with AML regulations. Reduced manual effort in AML checks. Improved operational efficiency through real-time updates to customer records.

  8. Why API Connects? Local expertise for tailored solutions: Offers customized solutions that align with local frameworks and business needs. Diverse service offerings: Hire engineers rendering DevOps IM solutions, Cloud and Systems Integration services, IoT solutions, data engineering, AI Machine learning solutions, and more Strong focus on regulatory compliance: Ensures strict adherence to AML and other legal standards to reduce risks. Implementation of optimized workflows: Deep expertise in designing efficient workflows that enhance accuracy and streamline approvals. Dedicated support and maintenance: Provides end-to-end support from implementation to ongoing operations.

  9. Get in touch for digital transformation Call: 098693444 Email: enquiry@apiconnects.co.nz Visit: Ground floor, 110 Carlton Gore road, Newmarket Auckland

More Related