Learn how we helped one client reduce manual workload by 60%
The Client
Azimo, a global money services broker
Azimo, a global money services broker
The Problems
Unstable API
Too many false positives
Manual, repetitive tasks
Poor Technical Support
The Solution
Flexible API
Easy installation
API whitelisting
Better support
Better AML Data
Richer insights
Risk-based approach to AML screening
The benefits
Less repetitive, manual tasks
Less noise
Faster decision-making
Flexible API and AML Screening meets the needs of major MSB
Azimo provides international money transfer services to individuals who send money to beneficiaries in over 190 countries via cash pick-up, home delivery, bank transfer, mobile airtime top-up and mobile wallet.
The Problem
Azimo was dissatisfied with their global data solutions provider and needed to find a better, more reliable solution.
Unstable API and poor technical support
Azimo’s data provider’s API was often down and the compliance team were never given advanced warning.
Typically, Azimo discovered the issues themselves by which point the company was already exposed to AML risk. As a result, Azimo was forced to bypass the system and run thousands of manual AML checks resulting in significant payment delays and customer dissatisfaction.
Poor customer support
When the API was down, the Azimo team found it hard to get hold of anyone who could help. The provider’s customer support team typically knew very little about the Azimo set up and could not help or provide a timeline for when with the API technical issues would be resolved.
No whitelisting via the API resulting in repetitive and manual tasks
The provider’s API could not learn from decisions taken by the team, so the same sender/beneficiary would be flagged for the same false positives (incorrect hits) every time that person made a payment, despite there being no change in the underlying AML data supplied by the provider. This was frustrating for the Azimo team and hugely inecient. More worrying though was the negative impact on customers.
The Solution
A flexible, easy API installation with good technical support
Azimo reviewed all the big data providers’ to find a more stable API solution with reliable transparent whitelisting capabilities and controls. Azimo also required better technical and customer support.
europos was selected as the best proprietary data provider to help Azimo improve their AML risk management.
A tailored risk-based screening solution, reducing noise
The europos REST API was easy to integrate and flexible. This allows Azimo to apply an appropriate risk-based screening approach such as tailoring fuzziness and crime type.
The Azimo team can also whitelist via the API under strict controls. The europos system learns from the users’ decisions which helps to reduce the false positives and improves overall efficiencies.
The europos Adverse Media solution also helps provide richer insight into individuals and saves time on ‘googling’ for more information.
