Financial Crime Detection Implementation Case Study

This case study outlines the implementation of Shift Financial Crime Detection for a mid-sized mutuelle insurer that covers health and protection for 240,000 individuals. The insurer sought to enhance its compliance capabilities after an audit revealed the need for improved filtering of politically exposed persons and sanctions. Previously, the compliance team relied on an internal Excel tool that required frequent updates and significant manual effort, resulting in only 10 alerts raised in 2022. Shift deployed batch controls to automate the detection of money laundering and sanctions, integrating with external data sources for effective filtering. The solution provided full audit and traceability of actions on alerts, facilitating faster decision-making. Following the deployment, the insurer was able to examine 100% of new clients in real time, raising 180 live alerts shortly after going live with the Shift platform. The implementation has led to increased accuracy of alerts and improved operational efficiency.