Santander, one of the biggest banks in the world, and one of the largest providers of mortgages and savings in the U.K., selected and deployed AML Manager from Fiserv.
After successfully implementing AML Manager to deter money laundering activity at Santander, Fiserv was called back to provide its services. While the bank was very pleased with the solution’s ability to accurately target unusual activity on its transaction network, they had a new problem to consider.
The sheer size of the organization led to an overwhelming number of filing of manual suspicious activity reports, or SARs. Faced with the prospect of increasing an already large staff of compliance officers, the bank turned to Fiserv in search of a more efficient and cost-effective approach.