Dixtior’s banking customers needed to detect money laundering fast! This meant completing the processing of complex data rules across many transactions in a very short time frame. Having tried multiple solutions, the banks turned to Dixtior a leading provider of FinTech Services to solve the problem, and Dixtior turned to FlexRule.
Operating in three continents, Dixtior’s primary focus is to provide consultancy and solutions in the areas of Governance, Risk, and Compliance for the prevention of money laundering and financing of terrorism. This is achieved through consultancy projects and implementing state-of-the-art technology solutions. Due to increased customer requirements, this has also led to providing operations and outsourcing services.
Dixtior’s solution using FlexRule analyses the flow of SWIFT transactions between banking partners against a set of rules to detect money laundering activity. Part of the complexity was that the time period of SWIFT transactions to be tested was not static. It was a moving time interval covering an ever-changing set of common transactions that needed to be tested against a set of cumulative values. In addition, a web service needed to be called to further validate the sender’s credibility.
Both the decision logic, made up of over forty business rules, and the web service calls had to be completed for hundreds of transactions in under one minute. This is where many of the previously tested solutions came up short.
With a strong aligned business requirement for executing the decision logic within a set time we needed to find a solution that could deliver. FlexRule were very confident this could be achieved. Therefore, we put them to the test and were very glad we did!
Rui Vicente, CEO Dixtior
FlexRule took up the challenge with its Process Robotics, Decision Automation, and Data Connection & Composition capability. Working closely with Dixtior, FlexRule built a pilot solution for a major bank. While other solutions failed to make the one-minute threshold FlexRule completed all of the processing in just 15 seconds. To achieve this FlexRule’s Process Robotics and Data Composition capability operated in both parallel and sequential modes. A further advantage that FlexRule provided was the ability to quickly edit business rules to meet the cat and mouse game of detecting money laundering.
At FlexRule we love these challenges. Whenever we are talking to customers we ask them to give us their toughest problem. Working with Dixtior we were able to build the pilot solution within a week and demonstrate FlexRule’s speed to meet their processing performance requirement.
For Dixtior this major bank customer will be the first of many deployments using FlexRule in the fight against money laundering. At FlexRule we are pleased to be providing solutions like this to keep making the world a better place.
Last updated November 11th, 2021 at 03:53 pm, Published September 18th, 2017 at 03:53 pm