With money laundering and other financial crime on the rise, it is vital that NatWest stays on the front foot to protect its business, customers and broader community from the associated risks. Adding to these pressures, regulators that oversee anti-money laundering (AML) policy are increasing their expectations on financial institutions to prevent illegal activity.
Keeping customer data complete and up to date is an enormous task, so we optimised the system to make customer due diligence easier – in turn allowing for more accurate assessment of customer risk. Our holistic approach also meant we supported the digital transformation with a change management program, to make sure people and processes were ready to make the most of the new solution.
NatWest now has a dynamic and near real-time view of customer risk, can spot potential issues quickly, has capability to generate risk alerts and has the right contextual information to evaluate that change against its risk appetite.
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