Forensic analytics for integrated banker surveillance

What EY can do for you

Sales practices, as a form of conduct, have gained renewed attention in the banking sector — yet many technology offerings for compliance are expensive to implement and have high ongoing costs due to resource requirements. Large financial institutions are also challenged with legacy systems following years of merger and acquisition activities that can be risky and costly to replace.

Traditional technology approaches for sales practice compliance produce high volumes of alerts with high false positive rates. Unstructured data, such as customer complaints, poses one of the biggest difficulties for data analysis. Banks have lacked the ability to link customer complaints with employee behavior and sales transactions and, as a result, compliance efforts are not sufficiently aligned to risky patterns, behavior, performance and controls.

But now there’s a better approach.

EY teams can help drive faster detection with precision and inclusion, more effective front-office control, and more efficient and targeted investigations — easing costs while securing the compliance organizations need. The EY approach has five key features:

It’s driven by behavioral risk profiling with holistic data

At the core of the EY analytics engine is a library of behavior patterns indicating instances of conduct risk. These patterns are developed through in-depth, historic data analysis and is added to as new incidents occur. The algorithms are fully customizable and self-improving using a closed-loop feedback process.

It provides comprehensive alerts that lead to answers

EY enriches risk alerts with contextual information from structured and unstructured data sources. The comprehensive insight into behavioral patterns and activities enables compliance executives to focus the investigation on high-risk areas.

It has interactive, real-time case management capabilities

Through the web-based user interface, front-office executives maintain a full view of sales activities with the ability to promptly clear or escalate alerts. The real-time interaction helps organizations enhance front-office self-regulation while protecting legitimate, profitable sales activities more cost-effectively.

It’s auditable

EY data-rich design provides an evidence-based audit trail that can sustain regulatory scrutiny.

It’s built on EY Virtual

As the host platform, EY Virtual offers the ability to consolidate a wide range of data sources with multiple deployment and data-hosting options. It has the capacity to integrate with legacy systems and new technologies alike. With EY Virtual, a bank can extend the data analytics implementation into other risk areas without the cost and time to develop a new compliance system, while gaining the benefit of an integrated enterprise risk management function.