challenge
At risk of being out of Financial Crimes Enforcement Network (FinCEN) compliance, our FinTech client needed to adjust how they audit and track suspicious financial activity. They were at risk for large fines and a shutdown of their market asset trading, and a serious cost to their bottom line. At the time, the company was using OneNote to monitor and track suspicious financial activities for their $300 billion+ in client assets. This resulted in multiple issues: OneNote didn’t allow them to file suspicious activity reports (SARs) within the FinCEN-required 30-day timeline, SARs needed to be tracked and stored for at least five years but OneNote had limited storage capabilities and OneNote didn’t have a dedicated tracking system to monitor ongoing cases. The company needed a partner with experience working in heavily regulated financial institutions to create a new system or risk major consequences to their bottom line.
solution
Our team created a fully functional, Cloud-hosted anti-money laundering case management application. We established the database schema and deployment pipelines in Azure and developed a new Angular front-end. Our team also built APIs and integrated Corticon fraud alert generating system to the application. In addition, we were SMEs to our client’s internal team and provided Azure Cloud coaching and documentation to lead them on their Azure journey.
results
After completing the engagement on-time and on-budget, our client’s application went live in 2022. As a result, the company is now in full compliance with FinCEN and FINRA regulations, meaning they’re no longer at risk of losing revenue. The modern Cloud architecture has allowed them to more easily add new anti-money laundering tracking features in order to keep up with frequent financial regulatory changes.
AWS Solution Brings Scalability and Additional Growth for Digital Healthcare Platform
Medify Health, a health technology company providing hyper personalized health services, has a unique platform that pairs patients with health coaches who empower them to achieve better health outcomes. They had specific business goals that they wanted to meet, so they were looking to enhance their platform so it could scale proportionately with their growth.
Helping to Improve the Insurance Policyholder Experience with AWS Cloud
CRS Temporary Housing, a top-tier Additional Living Expense (ALE) services provider for insurance carriers, had a vision to innovate their business operations by implementing next-generation technologies further to do-more-with-the-same costs. Learn how we used an AWS solution to help them achieve their vision.
Customer Experience Transformation Positions FinTech Platform for High Growth
After being acquired by a private equity firm, our FinTech client had aggressive growth targets they needed to meet. Their current product was limited in its UI/UX design flexibility and their customers were asking for more advanced filters and views of AR data and reports. Without a modernized platform, our client would likely not be able to expand and meet their new growth goals. Learn how we helped them modernize, enhance their UI/UX and introduce more scalable technology.
Fueling Growth: Transforming Freight Factoring with Modernized Platform
As specialists in freight factoring, our client wanted to gain more market share by leveraging advanced technology. Their current resources were unable to keep up with the highly competitive speed of business and our client was concerned that without technology upgrades, they’d start to lose customers. Learn how we helped them modernize so they could continue to grow.