Rosbank automated the process of identifying transactions subject to mandatory control

2021: Automate processes for identifying transactions subject to mandatory control

The teams Rosbank GlowByte and together SAS with completed the project to automate the processes of identifying operations subject to mandatory control, as well as the formation of regulatory reporting. This was announced by the bank on February 16, 2021. Due to the implementation of a single workspace for specialists to financial monitor and automate current AML/FT processes, employees bank now spend significantly less time analyzing operations that must be monitored, identifying dubious ones among them and deciding on further actions.

As of February 2021, all the necessary data for making a decision are aggregated in the SAS Anti-Money Laundering system, and the financial monitor no longer needs to use a large number of source systems to search and compare information.

The successful implementation of the mandatory control project was a step towards Rosbank's transition to full automation of all AML/FT processes. The system under development for monitoring operations includes online and offline scenarios for identifying questionable transactions, workflows for customer investigations, inquiry and document verification, as well as modules machine learning for assessing client risk integration and with an external source. data SPARK-Interfax

Prior to the implementation of the project, the identification of operations and the preparation of reports were carried out in different systems (there was no single work center). For example, customer data, accounts and transactions were stored in different systems, which complicated the reporting process and took a long time for financial monitors.

Already during the project, the teams faced changes in the legislation and in the formats for reporting to Rosfinmonitoring. Thanks to the flexible approach to development, all necessary changes were taken into account in the system and the bank received not only process automation, but also support for the latest legislative changes.

Now the bank more quickly identifies transactions subject to mandatory control, and also generates reports to the authorized body. Automated work with lists of suspicious persons and operations made it possible to implement a single system for storing and editing lists, as well as using these lists in mandatory control scenarios. An in-system data showcase was implemented and requirements for export representations were prepared (an intermediate data layer that is the source for the AML system showcase).

The introduction of SAS allowed Rosbank not only to adapt to changes in legislation in the field of mandatory control, but also to cope with the ever-increasing volumes of client operations without additional hiring of employees in the financial monitoring department. I will additionally note that the opportunity to work in the format of "one window" - the SAS interface - appeared in a timely manner and allowed specialists to comfortably switch to remote work from home in 2020 using laptops, which was previously difficult to imagine when working with numerous source systems, "commented Anastasia Sinitskaya, deputy director of the Rosbank financial monitoring department.

The project of introducing a single AML/FT system at Rosbank in February 2021 is one of the largest for our direction. Together with colleagues from the bank, we have done a lot of work and continue to develop the system in terms of automating the processes of working with dubious operations. The examination of the GlowByte team in AML/FT allows you to close the bank's high requirements for the final product, "commented Darina Shevko, a leading analyst at the GlowByte.

The implementation of the first stage of the project at Rosbank made it possible to take an important step towards the integrated automation and optimization of AML/FT control processes. The need to take into account legislative changes already during the project required flexibility and expertise from all participants. But all the changes were implemented within the required time frame, "commented Dmitry Vafin, head of AML/FT and compliance decisions of SAS Russia and the CIS.

In 2021, the teams plan to develop the existing functionality for mandatory control, as well as complete the implementation of the second phase of the SAS AML system in the field of identifying dubious operations.