Alteryx Case Studies Global Financial Crimes Compliance Introducing Alteryx

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	Global Financial Crimes Compliance Introducing Alteryx Alteryx

Global Financial Crimes Compliance Introducing Alteryx

Alteryx

Technology Category	Analytics & Modeling - Data-as-a-Service Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Fraud Detection Regulatory Compliance Monitoring
Services	Data Science Services
Challenge	MUFG Bank's Global Financial Crimes Division (GFCD) was facing challenges in handling massive data processing and diversified IT systems. The bank, being a megabank, had a large number of transaction data. In Anti-Money Laundering (AML) operations, the staff had to judge each case that the AML system detected with their own eyes, one by one, if it was truly suspicious. Also, detecting new high-risk transactions was a challenge since it required a significant workload. Another challenge was the insufficient human resources of data scientists who can perform exploratory analysis. They needed exploratory data analysis skills to spot global financial crimes and take action quickly. However, there were not enough data scientists currently in the Japanese labor market. Read More
About Customer	MUFG Bank is a Japanese multinational banking and financial services corporation headquartered in Chiyoda, Tokyo, Japan. It is one of the main companies of the Mitsubishi UFJ Financial Group, one of the world's largest financial groups. The bank's Global Financial Crimes Division (GFCD) was launched in November 2017. Based in New York City, where information and insights on global financial crimes are gathered, the GFCD operates in four locations, including London, Singapore, and Tokyo. The GFCD is responsible for promoting a globally integrated and consistent financial crimes compliance program. Read More
Solution	To overcome these challenges, MUFG Bank introduced Alteryx, a platform that is user-friendly and has a powerful engine to handle large amounts of data. Alteryx also has network capability to enable centralized data management. The bank chose Alteryx because of its easy-to-use user interface, powerful engine to handle large amounts of data, and network capability to enable centralized data management. After the deployment of Alteryx, the bank realized that Alteryx not only made data processing more efficient and faster but also brought about unexpected benefits, such as improved individual analysis skills and the ability to review business operations. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Data-as-a-Service

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Fraud Detection

Regulatory Compliance Monitoring

Services

Data Science Services

Challenge

MUFG Bank's Global Financial Crimes Division (GFCD) was facing challenges in handling massive data processing and diversified IT systems. The bank, being a megabank, had a large number of transaction data. In Anti-Money Laundering (AML) operations, the staff had to judge each case that the AML system detected with their own eyes, one by one, if it was truly suspicious. Also, detecting new high-risk transactions was a challenge since it required a significant workload. Another challenge was the insufficient human resources of data scientists who can perform exploratory analysis. They needed exploratory data analysis skills to spot global financial crimes and take action quickly. However, there were not enough data scientists currently in the Japanese labor market.

About Customer

MUFG Bank is a Japanese multinational banking and financial services corporation headquartered in Chiyoda, Tokyo, Japan. It is one of the main companies of the Mitsubishi UFJ Financial Group, one of the world's largest financial groups. The bank's Global Financial Crimes Division (GFCD) was launched in November 2017. Based in New York City, where information and insights on global financial crimes are gathered, the GFCD operates in four locations, including London, Singapore, and Tokyo. The GFCD is responsible for promoting a globally integrated and consistent financial crimes compliance program.

Solution

To overcome these challenges, MUFG Bank introduced Alteryx, a platform that is user-friendly and has a powerful engine to handle large amounts of data. Alteryx also has network capability to enable centralized data management. The bank chose Alteryx because of its easy-to-use user interface, powerful engine to handle large amounts of data, and network capability to enable centralized data management. After the deployment of Alteryx, the bank realized that Alteryx not only made data processing more efficient and faster but also brought about unexpected benefits, such as improved individual analysis skills and the ability to review business operations.

Impact #1	The number of person-hours spent on processing large amounts of data was reduced to around one twenty-sixth.
Impact #2	Alteryx allowed the bank to improve the efficiency of their analytical work.
Impact #3	The bank was able to spend more time on individual studies that require more in-depth research.

Impact #1

The number of person-hours spent on processing large amounts of data was reduced to around one twenty-sixth.

Impact #2

Alteryx allowed the bank to improve the efficiency of their analytical work.

Impact #3

The bank was able to spend more time on individual studies that require more in-depth research.

Benefit #1	Reduced the data cleansing process from 130 hours to about 5 hours.

Benefit #1

Reduced the data cleansing process from 130 hours to about 5 hours.

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Overview

Global Financial Crimes Compliance Introducing Alteryx

Operational Impact

Quantitative Benefit