Monitoring for compliance and sanction control

Example: Build a strong controls culture with EyesClear’s advanced monitoring capabilities. Photo: iStock. Illustration is from the EyesClear platform.

Sravya is a project manager for an Indian bank. While her bank has various systems to highlight transactions that surpass various thresholds, or block amounts touching sanctioned countries or individuals, the systems are outdated and come with bugs.

This has lowered the quality of service to customers while making validations time-consuming for other employees. She has been charged with finding a reliable, cost-effective solution.

Using EyesClear, Sravya can list all the rules that the bank needs to follow regarding transfers. Within a few days, all notifications that would be spotted by existing systems are also spotted on EyesClear in a consolidated manner, and EyesClear also catches some amounts the existing systems have missed upon.

Impressed with EyesClear’s reliability and regular updates, the senior managers decide to fully adapt to EyesClear saving valuable time and money. Now, those managers can proactively reply to regulators that they are following a strong controls culture through the use of advanced technologies, increasing the bank’s prestige.