Accuity

Streamlined PEP Screening

Sumitomo Mitsui Banking Corporation (Europe), the European division of a top five Japanese bank with over US$850 billion in assets, recently implemented a new solution for Politically Exposed Persons (PEPs) and caution list screening to better support its anti-money laundering operations. The firm jointly developed the solution in partnership with another company after finding no suitable platforms in the marketplace that met its particular requirements.

"Accuity’s PEP Due Diligence Database offered clear advantages over its competitors with its data 

— both the quantity, quality and structure — as well as the functionality the solution offered."

Manager, Planning Department

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How Accuity helped a top Bank expand watch list screening and reduce false positives

One of Accuity’s clients, a large bank in the Republic of South Africa, decided to expand its watch list screening efforts to include all of the currencies in which it does business with while also replacing its current watch list with a larger set from a commercial provider. However, this resulted in a dramatic increase in potential matches, and the bank turned to Accuity’s Strategic Services Group (SSG) for help.

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One of the Largest Nordic Banks Reduces False Positives and Optimises Compliance

As a major European bank with more than 125 years of service, Danske Bank serves a wide range of customers throughout Europe and around the world. The bank was engaged in an expansion phase that included entering the US market. As a result, it needed to upgrade and harmonise its AML and sanction compliance screening processes and data, consolidate with one supplier, enhance protection against financial crime, reduce costs and maximise efficiency.

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Easing Burdens Without Sacrificing Quality

First Interstate Bank, a full-service, US$6.7 billion financial institution with operations in Montana and Wyoming, processes thousands of various payment transactions daily. In order to process many of those transactions, additional research is constantly needed to successfully reconcile encoding and communication errors and verify routing instructions. As First Interstate Bank’s associates spent numerous hours referencing several sources for information that was often outdated or otherwise limited in information, the organization looked to Accuity for a better solution—allowing for greater efficiency and cost containment.

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Biotechnology Leader Cleanses Legacy Payment Data to Reduce Costs and Increase Efficiency

One of the world’s leading biotechnology companies, Genzyme has grown from a small start-up company in 1981 to a diversified enterprise with more than 12,000 employees around the globe and 2009 revenues of $4.5 billion. As a global concern, Genzyme operates with a worldwide network of suppliers, each requiring up-to-date and properly formatted bank payment data for efficient payment processing.

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Accuity’s Data Helps Global Oil Services Provider Achieve Highest Payment Efficiency

With operations in 80 countries and with 77,000 employees,Schlumberger needed to find ways to make its global payment processes as efficient as possible. Faced with multiple proprietary banking systems covering over 100 locations, and several banking relationships, the world’s leading oilfield services provider wanted to reduce transaction risks, improve working capital management, increase liquidity visibility and cut costs. Schlumberger embarked on a global project to establish a payment hub to redesign its payment operations and sustain company growth.

"Accuity’s Global Payment File normalises all bank data in a consistent structure. In addition, no other provider matches the unique coverage that Accuity has, providing local bank codes for countries throughout the world, including those where Schlumberger operates."

Business Project Manager

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Biotechnology Leader Cleanses Legacy Payment Data to Reduce Costs and Increase Efficiency

One of the world’s leading biotechnology companies, Genzyme has grown from a small start-up company in 1981 to a diversified enterprise with more than 12,000 employees around the globe and 2009 revenues of $4.5 billion. As a global concern, Genzyme operates with a worldwide network of suppliers, each requiring up-to-date and properly formatted bank payment data for efficient payment processing. 

"We are very happy with the outcome of the cleansing exercise that Accuity performed. It is great to have both our domestic and international data cleansed, and we are delighted to have them SEPA ready. Gathering this data from our vendors ourselves would have cost us a lot of money, and would have taken us far too long to do, aside from the potential human errors that could have occurred. Accuity and Bank of America Merrill Lynch have a solution that I would recommend to anyone."

Finance 

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Helping Casinos Improve Payment Processing Efficiency

A large Las Vegas casino, responsible for thousands of daily transactions, needed to find a more efficient and cost-efficient solution for payments. In addition to low efficiency, the casino was incurring undue expenses and fees due to routing errors and returned checks that would need to be corrected and processed manually.

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How Accuity helped a top Bank expand watch list screening and reduce false positives

One of Accuity’s clients, a large bank in the Republic of South Africa, decided to expand its watch list screening efforts to include all of the currencies in which it does business with while also replacing its current watch list with a larger set from a commercial provider. However, this resulted in a dramatic increase in potential matches, and the bank turned to Accuity’s Strategic Services Group (SSG) for help.