Delivering a Robust Anti-money Laundering Solution
Seargin developed a tailored anti-money laundering solution for a major bank in Europe. The team comprised a Scrum Master, a Technical Lead, and experienced IT professionals skilled in C#, (.NET), .NET Core, Agile (Scrum), and microservices. The client, referring to the project as "Priority 0," faced strict and inflexible deadlines imposed by various legal authorities. With over 4 million customers and an expansive number of transactions, the bank could not rely on manual methods or third-party AML software to combat money laundering and fraud. Additionally, the bank faced challenges in assembling a qualified IT team to create a comprehensive solution within a tight timeframe. As a result, they sought a dependable partner to develop a secure AML system. Seargin provided a team that seamlessly integrated into the bank’s existing structure, which included 26 Agile teams working remotely. The custom solution significantly minimized the risk of fraudulent or money laundering transactions and streamlined the investigation and monitoring of suspicious activities. Legal authorities approved the project's deliverables, and Seargin's emphasis on efficiency and automation led to results that surpassed initial expectations. For the bank, this represented a meaningful advancement towards becoming a Finance 2.0 institution. Find out more here.