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Banking & Financial Services

WNS Compliance-in-a-Box

Reduce Risk Exposure with Mature, AI & RPA Led AML / KYC Processes

COVID-19 has had a drastic impact on the Banking and Financial Services sector. In the wake of an increasing number of companies and individuals becoming insolvent, the onus has been on compliance officers and business leaders to better understand their customers through sufficient, accurate and up-to-date customer data.

Further compounding the challenge is the rising threat of financial crimes. The mainstreaming of digital technologies and remote working has led to criminals and fraudsters looking to exploit vulnerabilities and loopholes.

Key Challenges in Managing Risk & Compliance

Lack of an integrated approach

Higher cost burden due to evolving regulations and penalties for non-compliance

Inefficient and complex processes resulting in low productivity

WNS Compliance-in-a-Box: An Integrated Suite of Intelligent Solutions

  • Transformation Levers
  • Strategic Partnerships
  • Domain Specialists
  • Digital Operating Model

WNS Compliance-in-a-Box is a comprehensive and integrated suite of solutions that enables banks and Financial Institutions (FIs) to keep risks and fraudulent activities at bay through automated life cycle management of Anti-money Laundering (AML) and Know Your Customer (KYC) processes. It combines in-house and market-leading expertise in Artificial Intelligence (AI) and Robotic Process Automation (RPA), supplemented by expert human oversight.

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The WNS Compliance-in-a-Box Value Proposition

~40% potential reduction in turnaround time through higher productivity & follow-the-sun operating models

~20% upfront potential of productivity gain by leveraging APIs and AI solutions

~50% potential optimization in resource costs

~40% reduction in false positives by leveraging AI solutions / partner models

Enhanced governance leading to single source of truth

Agile delivery for faster outcomes through bundled solutions as-a-service

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Infographics

Navigating the KYC-AML Compliance Challenge with Analytics

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Blogs

How AI & ML Have Shifted the Efficacy of AML / KYC Processes

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Infographics

Transforming Credit Risk Management with Banking Analytics

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Blogs

Taking the Intelligent Path to Financial Regulatory Compliance

Navigate Risks Across the AML / KYC Life Cycle

Harness the Power of Next-gen Technologies

A Proven Solution That Has Delivered Global Impact

A leading financial technology company
  • Client: A leading financial technology company specializing in banking services

  • Need: Building a robust AML / KYC practice

  • WNS Solution:
    • Hired and trained a team of 60+ AML experts
    • Completed all documentation and setup connectivity in < 30 days
    • Scalable and flexible model with ownership of end-to-end delivery
  • Impact:
    • 100% turnaround time
    • Consistent target and SLA achievement
    • Scaled up to 170 FTEs to support increased operations scope
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US regional bank
  • Client: US regional bank

  • Need: US Federal Bank guidance to screen 3 million alerts across 350,000 clients in < 6 months

  • WNS Solution:
    • Set up a Center of Excellence (CoE) for PEP / sanction screening
    • False positive alert elimination and Lexis-Nexis and World Check search for transaction monitoring
    • EDD management support
    • Data management and analytics support for false positive reduction
  • Impact:
    • 40%+ cost reduction through standardization and automation
    • 10%+ efficiency through robotics and Six Sigma projects
    • 20% reduction in false positives through predictive models for fraud detection and AML transaction monitoring
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Other clients
  • Other clients

    • Helped a leading foreign exchange provider in the UK to bust an international criminal ring and prevent potential fraud of up to GBP 100 million

    • Enabled a leading US bank to achieve a 360° view on customers and transactions across fraud and money-laundering cases through consolidated operations and CoE for fraud / AML data management and analytics

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