A FinTech Tool to Automate Compliance and Risk Management

Visual concept

A system for automation of compliance control and risk management. The main function is the risk assessment of cooperation with a client (business and individuals). Risks are assessed on the basis of legal requirements (individually for each country) and on the basis of the internal business rules of the analyzing party.

Application functionality

• Risk analysis for new clients (onboarding)
• Monitoring the level of risk for existing customers
• Import of data for analysis from external systems - sanction registers, credit registers, banking systems (for transaction analysis), etc.
• Analytics and reporting - statistics broken down by customer segments, risk groups, etc.
• Rule constructor - creating and editing custom rules, as well as notifications for them
• Customer management - distribution of access, customization of system settings for a specific client

Solution

Results

Development of a system that reduces the complexity of risk analysis for the client and the number of errors caused by the human factor.

• The groundbreaking finance tool has had a significant positive impact on the customer's operations;
• The use of the latest technologies and innovative approaches simplified the risk analysis process and reduced the number of errors;
• More efficient and effective compliance processes resulted in increased automation, allowing the business to focus on high-value tasks;
• The amount of non-compliance issues has decreased since the implementation;
• The project serves as a model for future technology-driven business process transformations.