Achieve global risk and compliance screening outcomes

In large global financial institutions, risk and compliance screening solutions must work for hundreds of users with extensive global coverage and flexible delivery options. Have you experienced inflexibility within your compliance screening program? Gaps in coverage? A slow response to modify the solution based on your needs? By leveraging RDC’s platform, our clients are able to define and manage the screening rules through a centralized function, ensuring consistency and compliance with the appropriate global standards, and continuously monitor all customer and transactors more efficiently against the broadest database of sanctions, PEPs, and Adverse Media.

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Financial services giant achieves best-in-class compliance screening outcomes

Reduced gaps in international media coverage, flexible delivery options, increased productivity

 

The Client: One of the world’s largest banking and financial services organizations with over 52 million customers through its global businesses: Retail Banking, Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking. International network covers 74 countries and territories in six geographical regions; Europe, Asia, Middle East, North Africa, North America and Latin America.

Under heavy regulatory oversight, this client needed to execute an extensive remediation effort requiring a solution for hundreds of users with extensive global coverage and flexible delivery options. They experienced inflexibility with their current provider platform, gaps in international coverage and a slow response from their current provider to modify the solution based on their needs.

Partnering with RDC

The RDC solution provided the ability to screen and continuously monitor all customer and transactors more efficiently against the broadest database of sanctions, PEPs, and Adverse Media. RDC was able to streamline onboarding with decision –ready, dynamic due diligence reports and enhanced protection.

Proven Results

By partnering with RDC, the client gained an enterprise wide solution, enabling them to screen efficiently across all lines of business. With improved response time, internal productivity increased dramatically, and 800 users were smoothly migrated in 1 month.

Benefits of the RDC Solution

Robust Global Coverage
At 10M+ profiles of risk-relevant individuals and organizations, RDC has the world’s largest risk compliance database. Covering sanctions and watch lists, PEPs, as well as global adverse media, RDC was able to provide this client with a single solution for the variety of global screening requirements from the various lines of business, e.g. wealth management and the private bank, etc. but with the flexibility to support each business to address their local screening requirements.

Global Consistency
By leveraging RDC’s platform, this client was able to define and manage the screening rules through a centralized function, ensuring consistency and compliance with the appropriate global standards.

Transparency & Auditability
The RDC solution provides insights into the content added, all matches, analyst decisions, and other details, allowing clients to provide close oversight of the RDC performance as well as to confidently talk to internal auditors and regulators about their screening program and adherence to policies.