NAVEX Case Studies Fulton Financial Keeps Risk in Check

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	Fulton Financial Keeps Risk in Check NAVEX

Fulton Financial Keeps Risk in Check

NAVEX

Technology Category	Infrastructure as a Service (IaaS)
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Fraud Detection
Services	System Integration
Challenge	Fulton Financial, a mid-sized bank, wanted to take a more proactive approach to risk. The company needed a system that would increase employee confidence, provide insight into trends indicating risk issues, and facilitate inter-departmental collaboration to address concerns. Fulton initially used an internal system to meet federal requirements and identify fraud exposure. However, this system did not inspire confidence among employees, had limited functionality, and was difficult to staff. The company sought a more efficient solution. Read More
About Customer	Fulton Financial is a mid-sized bank that operates within the highly-regulated banking industry. The company has spent years developing strong financial controls to identify and resolve potential risks early. Despite not being exposed to as much risk as some larger financial organizations, Fulton Financial is committed to taking any necessary precautions to protect its human and capital resources. The company's proactive approach to risk is led by Jerry Furman, Senior Vice President and Chief Auditor at Fulton Financial Corporation. Read More
Solution	Fulton Financial chose to partner with NAVEX Global to strengthen its controls. NAVEX Global provides a system that allows employees to report any suspected fraud or misconduct safely and anonymously. The data from these reports is sorted into categories, enabling Fulton to analyze trends at each of its subsidiaries. When a report is submitted, three departments are automatically notified: Legal, Human Resources, and Internal Audit. These departments work together to decide who should take the lead in resolving the report, ensuring a system of checks and balances. Read More Log in to view content
Contents

Technology Category

Infrastructure as a Service (IaaS)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Fraud Detection

Services

System Integration

Challenge

Fulton Financial, a mid-sized bank, wanted to take a more proactive approach to risk. The company needed a system that would increase employee confidence, provide insight into trends indicating risk issues, and facilitate inter-departmental collaboration to address concerns. Fulton initially used an internal system to meet federal requirements and identify fraud exposure. However, this system did not inspire confidence among employees, had limited functionality, and was difficult to staff. The company sought a more efficient solution.

About Customer

Fulton Financial is a mid-sized bank that operates within the highly-regulated banking industry. The company has spent years developing strong financial controls to identify and resolve potential risks early. Despite not being exposed to as much risk as some larger financial organizations, Fulton Financial is committed to taking any necessary precautions to protect its human and capital resources. The company's proactive approach to risk is led by Jerry Furman, Senior Vice President and Chief Auditor at Fulton Financial Corporation.

Solution

Fulton Financial chose to partner with NAVEX Global to strengthen its controls. NAVEX Global provides a system that allows employees to report any suspected fraud or misconduct safely and anonymously. The data from these reports is sorted into categories, enabling Fulton to analyze trends at each of its subsidiaries. When a report is submitted, three departments are automatically notified: Legal, Human Resources, and Internal Audit. These departments work together to decide who should take the lead in resolving the report, ensuring a system of checks and balances.

Impact #1	The NAVEX Global system has helped minimize the potential costs of undetected fraud.
Impact #2	The system has instilled confidence among employees that they have a confidential resource to report issues and see them resolved.
Impact #3	The system has improved inter-departmental collaboration in resolving reports.

Impact #1

The NAVEX Global system has helped minimize the potential costs of undetected fraud.

Impact #2

The system has instilled confidence among employees that they have a confidential resource to report issues and see them resolved.

Impact #3

The system has improved inter-departmental collaboration in resolving reports.

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Overview

Fulton Financial Keeps Risk in Check

Operational Impact