Financial Services
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Meeting AML/CTF and FATCA Compliance with Velocity
Results: FATCA and AML/CTF compliance was met after a timely and effective roll out of the Velocity FinCrime suite across the bank’s business...
ShareDownloadGeneral Ledger Reconciliation Process Streamlined
Results: The centralized future state General Ledger Reconciliation process addressed Internal Audit findings through better role delineation b...
ShareDownloadAlacer Re-Engineers Process to Remediate Monitor Findings
Results: The monitor finding was resolved on a timely basis with a tactical process change, as well as presenting a strategic solution. ...
ShareDownloadAlacer Helps Top-Tier Finance Function Remediate Reconciliation Audit Point
Results: Alacer found multiple instances of incorrect reconciliations which were adjusted for in the P&L and Balance Sheet along with best-prac...
ShareDownloadFASB Lease Accounting Compliance at Top Bank
Results: All lease information successfully transferred to new accounting system in time for FASB compliance. ...
ShareDownloadDriving Simplification, Efficiency and Cost Savings for Global KYC Process
Results: Re-engineered work flow, requirements and governance optimization adjustments resulting in cycle time reduction by 50%, processing tim...
ShareDownloadDelivering and Sustaining Complex Financial Regulatory Data Reports
Results: Building the bank’s data capture process and technological infrastructure was accomplished within schedule and budget, all without d...
ShareDownloadDeveloping a Compliance Risk Assessment Framework
As risks grow in complexity and intensity, financial institutions need compliance, analysis and review. ...
ShareDownloadIdentity Theft and Account Takeover Fraud
Fraud from identity theft, account takeover and creation of new accounts continues to grow and has become a focus for financial institutions and their regulator...
ShareDownloadUnderstanding Fraud and Factors to Consider When Developing a Fraud Detection and Deterrence Program
Fraud takes many forms but it’s almost always preventable when an organization has the right policies, procedures and controls securely in place. This paper r...
ShareDownloadFactors to Consider When Developing Procedures for FinCEN 314(a) Requests
The USA PATRIOT Act requires risk identification, measurement, monitoring, controlling and reporting. Section 314(a) mandates information sharing between law en...
ShareDownloadDeveloping an Effective Enterprise Risk Management (ERM) Framework
An effective ERM provides management with a system of oversight, control and discipline affecting strategic direction, operations, reporting and compliance usi...
ShareDownloadAnalyzing Your High-Risk Customers
Results: The bank exited high-risk business lines and jurisdictions and eliminated 15% of its customers. New policies, monitoring and investiga...
ShareDownloadBank Resolves Deficiencies with AML Program Management
Results: All regulatory requirements were met, avoiding penalty, and AML Program is ready for sustained growth...
ShareDownloadPlanning and Implementing a Transaction Monitoring System
Results: Clean, timely data is managed and processed with efficient workflow, 40% reduction in false alerts, 25% faster than similar systems at...
ShareDownloadValidating Transaction Monitoring for Improved Alert Accuracy
Results: Data analysis of Transactional Monitoring System (TMS) rules and scenarios provided guidance for new alert filters and thresholds opti...
ShareDownloadOptimizing Success of Consumer Leads for the Finance Industry
Results: Actions were identified and taken to both increase revenues and reduce costs, targeting a 10% improvement in lead performance resultin...
ShareDownloadMSB Compliance with AML Regulations
Results: New policies, procedures, training and diagnostic, review and reporting tools, added management tools, and operational safeguards....
ShareDownloadAchieving Sanctions/OFAC compliance
Results: Changes in staffing, reporting, technology and procedures resulted in an enhanced program that meets regulatory expectation....
ShareDownloadNetwork Penetration Test: Protecting a Financial Firm’s Future
Results: The client identified weaknesses in security, and developed a proactive incident response plan...
ShareDownloadBusiness Unit Risk Assessment to Support AML Compliance
Many financial institutions are facing tremendous regulatory challenges due to lack of a comprehensive AML risk assessment program. Alacer's Business Unit Risk ...
ShareDownloadEnhancing the AML Risk Assessment Process
Results: Greatly improved AML risk assessment process, improved management reports to better assess AML risk and decreased regulatory risk...
ShareDownloadAugmenting AML Resources
Results: Backlogs were eliminated within months. Quality scores were best-in-class and the project was delivered significantly under budget....
ShareDownloadAML Staffing Gets Scientific
Results: The BSA Officer received approval for his staffing request and now uses the staffing model to proactively manage staffing required for...
ShareDownloadMonitoring and Reporting Potential Money Laundering and Terrorist Financing Activities
Results: Saved $12 million/year in costs; cut $16 million in contract costs; regulators rated system best in class...
ShareDownloadKaizen Reduces Waste in Currency Transaction Reporting Processes
Results: 40% improvement in CTR filing timelines; eliminated need for additional staffing...
ShareDownloadAddressing Challenges with Manual AML Transaction Monitoring Processes
Results: 35% of manual scenarios were eliminated, enabling the BSA Officer to reallocate staff to higher risk activities...
ShareDownloadCreating Effective AML Management Information Systems
Results: Senior management now has the information needed to assess potential compliance risks and issues. This was supported by a weekly revie...
ShareDownloadLean Six Sigma Tackles a Bank’s Regulatory Requirements for SARs
Lean Six Sigma processes help a global financial institution eliminate its SARs backlog, improve productivity by 66% and cut cycle time in half....
ShareDownloadSolving Financial Services Compliance Challenges with Lean Six Sigma
Lean Six Sigma tools can be successfully used to help financial services organizations combat the challenges of increased regulatory requirements....
ShareDownloadDesign for Six Sigma Drives Increased Revenue for Financial Service Firms
Design for Six Sigma tools can significantly improve a financial organization’s processes, ranging from how to address a costly SARs backlog to revamping a m...
ShareDownloadRating and Monitoring Customer Risk
Results: Compliant CRR methodology meets all requirements, deployed within tight deadlines, able to periodically run analyses on changing risks...
ShareDownloadAML Process Review Saves $1.4MM While Improving Customer and Employee Experience
Results: Staff realignment, capacity adjustments and recaptured productivity saved $1.4 million; thousands of errors per day eliminated; increa...
ShareDownloadValidating AML systems
Results: All AML systems fully validated on time and per regulatory requirements...
ShareDownloadBuilding a Balanced Scorecard
Results: Fully automated Balanced Scorecards that are transparent and easy to navigate...
ShareDownloadReinventing the Insurance Business
Results: Created self-service options, boosted regulatory compliance by 28% and reduced lead time by 50% ...
ShareDownloadCompliance at Large North America Bank Gets Lean
Results: A refined process cut 26 unnecessary steps for compliance in 47% less time...
ShareDownloadAutomated Options Trading: Big Data for Big Hedges
Results: Machine-based yields at 30% on managed funds ...
ShareDownloadAutomated Options Trading: Big Data for Big Hedges
Results: Machine-based solution yields 30% on managed funds ...
ShareDownloadCheck Imaging Shakes Up Banking
Results: New platform implementation saved banks $350 million, reducing unit processing costs by 60% and total costs by 70%...
ShareDownloadApplying Lean Six Sigma in the Financial Services Risk Management Environment
Efficient management of the SAR 90-day follow up process streamlined using Lean Six Sigma to meet regulatory requirements...
ShareDownloadA New Recipe for Tracking Online Financial Transactions
Results: All online transactions posting within five minutes, resulting in $30 million in revenue growth and improved customer satisfaction...
ShareDownloadSkip Loss — Stop Loss
Results: Resolution time cut 62%, saving $12 million in U.S., solution adopted globally for additional $7 million savings...
ShareDownloadBrave New Shores: Offshoring a Call and Collection Center
Results: Saved $17 million in first six months, $20 million saved in next 13 months with related savings in infrastructure and hardware expense...
ShareDownloadMoney Laundering and Terrorist Financing Activities
Results: Savings of $36 million over three years, vendor costs cut by $16 million and received “Best in Class” designation from regulatory ...
ShareDownloadBuilding a Smarter Collections Decision Engine
Results: $4 million expense savings, mitigation of $30 million of losses in six months, instant implementation of treatment strategies...
ShareDownloadInnovation to Meet Anti-Money Laundering Regulations
Results: New system database installed and operational in 4 months, manual reports eliminated...
ShareDownloadReinventing the Mortgage Process
Results: 5-second decisions for 45% of HELOC applications, decision time on real estate secured loans cut by over 50%, restored 30,000 hours of...
ShareDownloadUntangling the Forecasting and Planning Process
Results: Personnel costs cut by 15%, data quality drastically improved, cycle time cut by two days, lower overtime, higher employee morale ...
ShareDownloadEnvisioning New Ways to Navigate Debt Portfolios
Results: 10% reduction in operational employees, collection rate boosted by 100 BPS, improved cash flow funded purchase of new debt portfolio...
ShareDownloadThe New Work Force: Appealing to Gen-X Employees
Results: 88% of new hires licensed within 90 days with 0% attrition, $4.5 million saved in recruitment/replacement costs...
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