Our client has been a trusted resource to the financial services industry, serving national clients such as banks, credit unions, foreign agencies, and financial institutions. Like other companies, their BSA/AML and internal audit teams used Excel spreadsheets for managing daily work. The system worked, in practice, but it wasn’t highly efficient. It also left a lot of room for human error. This led the internal audit team to seek out new tools that could automate processes and help with data collection, analysis, and reporting.
“We were working hard every day to do our jobs to the best of our ability, but without a system that could effectively support us or show us our inefficiencies, we weren’t having a meaningful impact,” says Risk Analyst.