CHALLENGES
The FIS Operations team, as part of the Transaction Monitoring process, performs the following steps to create a recommendation on course of action w.r.t each transaction that they are assigned for analysis:
- Perform entity description search for merchant and CP on the web and summarize it
- Perform negative news search for merchant and CP on 3rd party system and summarize it
- Apply rules such as transaction value, high risk country origin, historical transactions between parties, previous case search for CP, etc. to flag transactions for investigation
- Create summary text document with the above findings and recommended next steps
- The process summarized at a high level above is manual, tedious, and dependent on analyst skills and attention to produce desired result.
SOLUTION
- eClerx eGenAI solution will perform the transaction monitoring summary text creation process. Here is a summary of the solution features:
- Transaction monitoring module hosted as a service on eClerx Generative AI Platform
- Home page for entity and country combination search that generates the entity description text sourced from the web
- FUTURE ROADMAP:
- Integration with 3rd party systems for direct content sourcing
- Business rules implementation for transaction assessment
- Optimized for greater efficiency – End to end document generation, reduced analyst touch points
