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How a Large Regional Bank
Improved Regulatory
Compliance to More than 90%

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Results in Terms of Numbers:

The Beinex Model Enabled for the Client 

55+  
Risk compliance control scenarios automated 
  • Resulted in a 20-30% increase in productivity. 
  • Reduced human errors by 70-80%. 
  • Ensured consistent and reliable execution of processes. 
95%
Improved reconciliation accuracy through automation 
  • Reduced manual effort required for reconciliation by 80%. 
  • Decreased the time taken for reconciliation from 2 days to minutes. 
600K+ 
Transactions per month monitored 
  • Detected 3,000+ anomalies per month, a week faster than otherwise. 
  • Identified approximately 600+ fraudulent activities per month. 
80% -90% 
Manual effort reduced
  • Resulted in major cost savings in internal auditing tasks. 
  • Time saved in terms of data collection, verification, and reporting stood at 80%. 
90%+
Regulatory compliance enhancement achieved
  • Avoided fines and legal penalties. 
  • Improved customer trust.  
  • Assured operation within legal and regulatory frameworks. 
Client & Requirement:

Delivering Beinex Excellence to Our Clients

The client, one of the esteemed corporate banks in the UAE, offering personal, business, and Islamic banking services, required a continuous monitoring system to identify compliance breaches, fraudulent activities and operational inefficiencies and generate reports in real-time.  
Highlights of the Beinex Solution
Automated 55+ banking-focused risk compliance control scenarios, eliminating the need to approach data analysts. 
Managed 20K+ transactions per day (600K+ transactions per month) on a live basis rather than manually analysing hundreds of transactions on a daily basis. 
Enhanced regulatory compliance to provide a safer and trustable banking environment for the customer. 
Before and After Beinex:

Transforming Challenges into Success Stories

Before Beinex
>
After Beinex
Manually handled regulatory compliance, which was time-consuming and prone to errors.
Regulatory Compliance 
Automated regulatory and compliance requirements, improving it to more than 90%. 
Manually analysed hundreds of transactions on a daily basis.
Transaction Analysis 
Automated transaction analysis, handling 600K+ transactions per month on a live basis. 
Relied on manual calculations to analyse cheque returns and generated reports manually.
Reporting 
Automated the end-to-end process, addressing all scenarios from scratch to reporting.
Audit team relied on one person for all data tasks. 
Data Dependency
Automated almost every scenario, eliminating the need to approach data analysts.
Auditors lacked visibility into data, sifting through multiple data marts for exceptions.
Data Visibility 
Centralised all processes into a single platform, ensuring complete automation.
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From Challenges to Solutions:

Resolving Complex Issues with Precision

Gap between the audit team and the data 

  • Implemented automated workflows and data pipelines.
  • Encapsulated workflows and pipelines into applications with an intuitive interface for auditors. 

Lack of continuous monitoring 

  • Deployed advanced Continuous Control Monitoring tools.

Limited technical expertise to access data

  • Automated the end-to-end processes, enabling the audit team to run auditing and perform data analysis independently. 

Limited data literacy 

  • Trained the audit team through comprehensive data analysis programs. 
  • Implemented intuitive dashboards for easy data interaction. 

No technology to support the entire population

  • Implemented a scalable and robust data processing infrastructure capable of handling large volumes of transactions.

Delays and accuracy issues entailing the manual way of working

  • Automated the end-to-end internal auditing process, from data collection to reporting.
Powering Success:

The Crucial Role of Technology

End-to-end Automation using Alteryx 
Employed Alteryx to automate the complex end-to-end processes and scenarios specific to the banking industry, from data extraction to reporting, empowering the client to surpass the challenges inherent in manual approaches. Alteryx leverages its advanced capabilities to streamline and optimise internal auditing processes, enhancing operational efficiency and driving strategic decision-making. With Continuous Control Monitoring, Alteryx enabled real-time monitoring, mitigating risks promptly and proactively. 
Client Spotlight

What Our Clients Say

“Working with Beinex has been transformative for our operations and data management. We struggled with detecting and flagging data reconciliation issues and security breaches and manually created dashboards from Excel files.

Beinex seamlessly implemented dashboards, helping us monitor performance, customer response, activities and KPIs. We now have automated data reconciliation with 99% accuracy and an efficient workflow for handling security breaches.” 

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