We provide comprehensive solutions coverage to a leading universal bank across financial crimes and risk. Key highlights include assisting the delivery of a liquidity risk insight platform and Actimize implementation for anti-money laundering.


We assist a leading universal bank in a multi-year engagement for KYC remediation of more than 100,000 entities for the corporate and investment banking LOB.


For over a decade, we have partnered with a leading European Bank for AML engagement around Mantas & Fircosoft and surround solutions.


We have worked on remediation of over 2.5 million legal documents in more than 20 locations around the world for a large universal bank.



In today’s world, businesses need to find a balance amongst effective governance, risk management options and industry compliance standards.


Mphasis helps businesses overcome these challenges and provides solutions that identify and effectively manage risks and compliance violations.

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Mphasis has worked on industry-leading platforms, such as MANTAS and ACTIMIZE, providing product implementation and operational support. Our anti-money laundering (AML) services to leading financial firms across multiple business areas have:

  • Supported complex worldwide operations of these organizations over a number of years
  • Provided services in both the information technology (full systems development life cycle) and process management areas
  • Offered expertise, which ranges across a wide spectrum of processes and functions within AML

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Our Financial Crimes Investigation Platform for Alert/Case Management and Suspicious Activity Reporting (using ACTIMIZE eRCM) solution helped a top global bank create a multi-country compliance platform. We helped the organization to:

  • Comply with transaction recordkeeping and report requirements
  • File suspicious activity reports related to suspicious customer activity
  • Integrate subject historical research and findings to get a single view of anti-money laundering (AML) risk associated across the organization
  • Integrate with transaction monitoring, teller, and web systems for daily feeds
  • Create multiple interfaces for alert and case management in ACTIMIZE
  • Design workflow for alert and case management
  • Have a suspicious activity reporting module with an escalation workflow
  • Customize ACTIMIZE dashboards for prompt and efficient management of alerts
  • Contain an adequate system of internal controls

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Using a knowledge-assisted process, we automate the lower-end of anti-money laundering alerts investigation. Our solutions:

  • Complement existing investments in screening and case management systems
  • Complete investigation reports with supporting evidence, learn from investigators’ actions, and continuously improve pre-processing and screening of cases
  • Provide complete investigation reports with supporting evidence, learn from investigators’ actions, and continuously improve pre-processing and screening of cases
  • Design unique user interface around the ad-hoc nature of investigation and provide a comprehensive set of tools to drill down, analyze, and report on transactions and customer details
  • Integrate with the NextAngles KYC module
  • Generate complete customer and account-level risk and behavior profiles, which are aggregated across multiple lines of business and customers’ organizational control hierarchies

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Our anti-money laundering (AML) investigation ensures that the use, source, and destination of funds do not involve any money laundering and enables a smooth business process by tracking suspicious transactions. Our automated transaction monitoring of Trade-Based Money Laundering (TBML) is based on automatically generated industry-standard red flags. It enables organizations to:

  • Generate alerts
  • Investigate alerts
  • Discover elements that might have been missed
  • Investigate the reasonableness of a transaction between importers and exporters
  • Encode new rules into the system without dependency on the IT team

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Our reimagined KYC offering can reduce operations cost while improving quality and transparency in the Know Your Customer (KYC) and anti-money laundering (AML) processes. It can help organizations:

  • Comply with KYC regulations and case laws in relevant jurisdictions
  • Maximize straight-through processing of customer analysis without impacting quality negatively
  • Reduce redundancy and unnecessary work through left-shift of all operational steps that have an impact on downstream tasks
  • Learn and automatically repeat low-level knowledge work
  • Source all internal and external information on the entity automatically with traceability
  • Manage workforce smoothly with predictable processes

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Enhance operational efficiencies and reduce the cost of compliance for your firm's Know Your Customer (KYC) needs with this platform. Our capabilities will help you:

  • Identify Beneficial Owner (BO)/Ultimate Beneficial Owner (UBO) for an entity and enhance the associated BO/UBO attributes for AML/KYC Analysts
  • Consolidate party data to provide a holistic view of a customer’s activity and risks
  • Integrate third-party data to process and enrich KYC data for an entity
  • Respond to external events related to clients proactively and use the same to re-calculate the risk score and recommend the overall impact of the news on the bank/financial institution

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Our client-screening (Actimize, Fircosoft - WLF & BPS - alert triaging) platform helped a global bank build a compliance platform to identify potential high-risk customers and suspicious transactions, in order to limit fraud and fight money laundering, illegal trafficking, and terrorist financing. We helped the organization to:

  • Meet compliance requirements
  • Customize compliance requirements by maintaining multiple watch lists—sanction lists, Office of Foreign Assets Control (OFAC) lists, freeze lists, Politically Exposed Persons (PEP) lists, and others, by geography. We also provided matching algorithms and customized rules
  • Enable access through multiple channels

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The holistic surveillance system tracks events, communications and trading activity/investigations through their entire workflow and correlates that information to perform comprehensive compliance coverage across asset classes, platforms, communication channels, markets, venues, and global regulations. The major systems functions using cognitive computing help:

  • Link alerts, transactions, communication, and market data in a bi-temporal view grouped by a set of defined rules
  • Discover intent, actions, network, risk and behavior to efficiently manage false positives
  • Take a predictive and preventive approach for alert detection and management
  • Perform in-channel and cross-channel pattern recognition using NLP on digitized communication
  • Link archived communications to e-Discovery using semantic graphs
  • Enable smart investigation—trade reconstruction, market data visualization, trades and order visualization, context analysis, news impact, etc.
  • Perform analytics to discover additional facts and alerts
  • Provide robust and comprehensive alert, and case management

For trade surveillance, our ACTIMIZE Market Surveillance and Information barrier solution has helped a top global bank create a multi-country compliance platform for Alert and Suspicious Activity Reporting (SAR) management. We helped the organization achieve:

  • Compliance with regulatory supervisory and surveillance requirements
  • Surveillance of wash trades, cancel/correct, spoofing, front running, off market models
  • Workflow for alert and case management
  • A suspicious activity reporting module with escalation workflow
  • ACTIMIZE dashboards for prompt and efficient management of alerts
  • Integration with multiple sources for daily data feeds
  • Adequate system of internal controls

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Mphasis provides services (consulting, technology, and process outsourcing) around NPA platform and processes. Learn how these help organizations to:

  • Define or re-engineer business processes
  • Define the RFP processes and documents and support the RFP process
  • Write business requirements, functional requirements and build POCs
  • Evaluate vendors (workflow tools, NPA tools)
  • Implement or upgrade an NPA platform against chosen toolsets (full waterfall software life-cycle or parts of it)
  • Provide operations support for NPA creation and review

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Mphasis engagement on credit risk technologies encompasses various application suites, built and maintained for credit approval, credit limit management, overdraft management, data warehouse, and a reporting portal. We have de-commissioned legacy systems and migrated to an integrated credit risk desktop for a wholesale credit group. The key programs that we delivered for the organization include:

  • Credit Surveillance Report
  • Approval Record and Control
  • Over Limit Management
  • Pyxis, Supplemental Limit Management
  • Threshold Management System
  • Regulatory Reporting Platform

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We have helped banks take over the support, maintenance and installation of operational risk management product for financial services clients. This has several benefits for product owners and clients.

Benefits to product owners:

  • Allows the product owners to focus on their core business
  • Eliminates the extra cost for supporting products
  • Ensures smooth functioning of activities and service quality

Benefits to clients:

  • Customized services through the development of client-specific process handbooks defining the detailed support model
  • Improved processes through the creation of a dedicated quality assurance team to monitor and track quality of deliverables
  • Knowledge repository for quicker issue resolution and faster induction of new team members

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Mphasis has supported organizations through multi-year initiatives to support global monitoring and reporting of key finance measures such as AUM, revenue flows, investment and counterparty risk across global investment management and global wealth management. We help organizations:

  • Implement a risk management platform
  • Develop a counterparty management workflow system to review, approve and manage the counterparty's limit
  • Create analytical platforms for finance teams to report a multi-asset class risk

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Mphasis helped a large financial organization in North America follow a bottom-up approach to data validation supported by:

  • A data validation framework, which was proprietary
  • Data flow maps for each system
  • Domain knowledge of financial tools/models that ensured consistent and accurate results across such platforms/systems
  • Tools to do data recon built using Hyperion

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After the 2008 financial crisis, liquidity risk management has become more important and mandated by regulators. Failure to comply, can lead to penalties. Mphasis helped an organization to enhance and automate the liquidity risk reporting capabilities. The organization now has:

  • A single solution for liquidity regulations compliance
  • An enhanced monitoring and user experience
  • Monitoring tools for risk managers to identify negative liquidity trends
  • Easy identification of high-quality liquid assets and the capability to monitor related trends
  • Capability to manage the minimum acceptable amount of stable funding in an extended stress scenario
  • A highly intuitive and robust web application user experience and user interface
  • Flexible architecture providing an ability to accommodate future changes to regulations

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With the right mix of technology, people, and processes, we optimize document remediation through:

  • A proprietary remediation case management tool providing skill-based routing, quality assessment checklists, real-time reporting, compliance assurance, and load balancing to ensure optimized work
  • A unique delivery engagement model, executed through onshore-offshore delivery centers, augmented with a skilled resource pool of legal/paralegal analysts, investment banking associates and data analysts
  • A university curriculum established to train and enhance analysts' skills around IB contracts, document nuances and legal reference ability
  • Strategic partnerships with leading law firms for a skilled pool of legal and para-legal resources

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Discover how Mphasis provides services (consulting, technology, and process outsourcing) around KYV (Know Your Vendor) to:

  • Implement and tune smart compliance solution (NextAngles)
  • Define or re-engineer business processes
  • Write business requirements, functional requirements and build POCs
  • Evaluate vendors (for traditional supplier lifecycle management)
  • Implement or upgrade a vendor platform
  • Perform data engineering – digitization, modeling
  • Provide skills for KYV operations

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Mphasis has conceptualized the overall process and implemented the framework that enables a large universal bank to efficiently track compliance on all legal and regulatory matters. We support several key regulatory practice areas:

  • Regulations change management
  • Policy administration
  • Monitoring and testing
  • Training and awareness

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An efficient and effective response to regulatory examinations and consent orders requires standardized, centralized, and automated processes to be adopted by compliance. We have helped organizations manage:

  • First-day letters
  • Internal preparation
  • Exam fieldwork, supervisory letters ,and management responses
  • Inventory and deliverables to regulator management
  • Regulator specific portals
  • Effective and timely reporting

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Mphasis helped a global bank develop a strategic audit application to replace the existing Lotus Notes Databases used by the bank in the areas of corporate/internal audit. The existing platform was used for audit planning, audit execution and administration. However, with the ever growing needs of the business it became essential to move into a more stable, extensible and robust application that supported the bank's audit needs. Mphasis helped the organization to:

  • Streamline and automate the approach in audit planning and execution
  • Reduce turnaround time by enhanced workflow process
  • Send notifications and messages for efficient tracking of audits thereby ensuring overall health of audits
  • Secure information access to regulators during external regulatory audits
  • Improve User Interface (UI) experience across all stages–audit planning, audit execution, and reporting

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Mphasis Regulatory Reporting (Bespoke, COTS) compliance capabilities address the most demanding financial regulatory needs. This approach reduces compliance burden, mitigates risk, empowers all individuals involved, and transforms the experience of compliance. We have:

  • Built the OATS reporting platform for a large broker/dealer
  • Automated Electronic Blue Sheet reporting for large universal bank
  • Completed business analysis for implementing BCBS 261 at a large universal bank
  • Undertaken extensive data model for compliance and regulatory reporting

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The Mphasis governance methodology and management process aligns our solution structure with our client’s strategy, business needs, business functions, business processes and business. By integrating a strong program management background with a culture that values continuous process improvements, we commit to our partnership and collaboration with our clients. We adopted this approach in a multi-year initiative with a Corporate Technology LOB to address the MRA (matters requiring attention) directive received from federal regulators. We helped the organization:

  • Deliver a data access layer and a model deployment layer to extract all source data, storing the data and making it available for downstream models
  • Deploy scoring models in SAS, python and machine learning in spark
  • Implement and automate different types of ingestion, transformation, pre-adjustment/adjustment/post-adjustments calculations, EOD, EOM, derived metrics and allocation jobs
  • Improve the time taken to generate a score to 50% of original time
  • Deploy a scalable solution—flexible architecture that provided an ability to accommodate future changes to regulations

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