A major online retailer.
A significant backlog of alerts coming from OFAC and sanctions database with many alerts containing foreign language.
- Foreign Language Capability
- Managed Compliance Review
- Data Analytics Expertise
DiscoverReady was approached by an online retail client with a unique compliance problem. They needed to reduce a massive backlog of KYC/OFAC alerts originating from within their buyer and seller transactions systems. The client maintains a worldwide presence and multiple foreign languages were expected in the data set. The enterprise did not have staff on-site who could review in these languages and their traditional staffing provider couldn’t keep up with demand.
- Several 100K backlog of alerts to review
- Inability to staff project internally
- Large population of foreign languages within the data population
DISCOVERREADY RESPOND & COMPLY
Leveraging our Managed Review workflows and scalable process DiscoverReady delivered a defensible, budget-friendly managed service to meet client’s needs:
- Foreign language expertise
- Speedy project ramp-up of over 100 investigators
- KYC and AML management expertise
- High quality work product repeatedly validated by client QA
- Project and Review Management
- Engaged analytics team to evaluate data in an effort to reduce cost and risk for ongoing alert upkeep.
- DiscoverReady’s Managed Review Service and analytics teams helped the client quickly reduce a backlog of over a half a million alerts in multiple languages within 3 months.