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Technology & Software Engineering

The Engineering department within a global investment bank develops and maintains the technological backbone that supports the bank's operations. This includes creating sophisticated systems for trading, risk management, customer relationship management, and compliance. The department plays a crucial role in ensuring that the bank stays ahead of technological advancements, maintains operational efficiency, and complies with global regulations.

Challenges

Alex, a senior software engineer based in London, faces a critical challenge in enhancing the bank’s anti-money laundering (AML) alert system. The current system struggles with entity resolution, particularly in accurately identifying and linking various legal entities and associated individuals across different jurisdictions. This deficiency risks non-compliance with global sanctions and regulations, potentially leading to significant financial and reputational damage.

Solution

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User Journey

  1. Initial Insight: Alex receives an email from the AI platform highlighting a recent increase in regulatory scrutiny around AML compliance and the potential of knowledge graphs in improving entity resolution.
  2. Expertise Connection: The platform suggests Alex reach out to Maya for her insights on knowledge graphs and to Raj for his technical expertise with Neo4j in compliance contexts.
  3. Collaborative Planning: After connecting with Maya and Raj, Alex organizes a series of virtual workshops to effectively brainstorm how to integrate knowledge graph technology into the AML alert system.
  4. Development and Implementation: With ongoing guidance from Maya and Raj, Alex’s team has started developing the new system. The AI platform sends periodic reminders to review the latest sanctions lists and regulatory updates, ensuring the system’s data remains current.
  5. Testing and Deployment: Before deployment, the AI platform assists in identifying potential test cases based on recent news articles and industry reports to ensure the system’s effectiveness in real-world scenarios.
  6. Monitoring and Iteration: Post-deployment, Alex continues to receive updates from the AI platform on new developments in AML compliance and technology, enabling continuous system improvement.
    This use case demonstrates the transformative impact of AI-powered collaboration and information sharing within a global investment bank, driving innovation and compliance in critical areas such as anti-money laundering efforts.

Result

Leveraging the connections made possible by the AI platform, Alex and his team deploy an enhanced AML alert system capable of sophisticated entity resolution, ensuring no transactions involve entities from sanctioned countries, maintaining compliance, and safeguarding the bank’s reputation.

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