Industry
Banking & Financial Services
Clearing a Federal Reserve AML Concern to Unblock a Stalled Acquisition
stalled acquisition unblocked by resolving the Federal Reserve’s AML compliance concern
re-architecture of the BSA/AML landscape, from KYC to case management and OFAC screening
delivery against stringent federal timelines under direct FED scrutiny
The bank faced concerns from the Federal Reserve Board about its anti-money-laundering compliance, concerns serious enough to impact an acquisition. Altimetrik re-architected the BSA/AML landscape end to end and provided full implementation support across functional and technical design, development, and testing, spanning KYC, transaction monitoring, and enterprise case management. A strong onshore-offshore model delivered the throughput needed to meet the Fed’s timelines, and the program cleared the compliance concern under intense regulatory scrutiny.
This was a highly visible, critical program given the scrutiny by the Federal Reserve and the impact on the bank. It required a deep understanding of the many data sources and the preprocessing performed before data reached the monitoring platform, along with close coordination across multiple teams.
Timelines were stringent and challenging, set by federal deadlines that left no room for slippage.
The Fed’s AML concern was already impacting an acquisition. Until the compliance gap was closed, a strategic transaction stayed blocked and the bank remained exposed to regulatory action, making remediation a board-level priority rather than a routine IT project.
Working from detailed discussions with the bank, Altimetrik re-architected the BSA/AML landscape and provided end-to-end implementation support, including solution functional and technical design, development, and testing. The environment spanned web services and APIs, TIBCO, IBM BPM, .NET MVC, and SSRS reporting over a SQL database.
A strong onshore-offshore model was built to facilitate high throughput against the federal timelines, coordinating across the many teams and data sources that fed the AML environment.
▪ Resolved the Federal Reserve’s AML compliance concern
▪ Cleared the path for the impacted acquisition
▪ Re-architected the BSA/AML landscape end to end
▪ Coverage across KYC, transaction monitoring, and enterprise case management
▪ Strong onshore-offshore model built for high throughput
▪ Delivered against stringent federal timelines
Altimetrik stepped into a program under direct Federal Reserve scrutiny and treated it with the discipline that level of stakes demands. By re-architecting the BSA/AML landscape end to end and running a high-throughput onshore-offshore model against hard federal deadlines, Altimetrik helped the bank resolve the compliance concern and remove the obstacle to its acquisition.
