Anti-Money Laundering Risk Control - Scaling Regulatory Requirements in the Cloud | #BAS22

Marko Ernsting | Senior Manager, Deloitte Consulting
Falk Fraikin | Head of Customer Data Management & Data Governance, Commerzbank
Andreas Schleiter | Partner, Deloitte

Financial Regulators continue to expect strong anti-money laundering policies, robust controls and enhanced customer due diligence to be implemented by financial institutions.

Historically grown organisational structures, the landscape of customer management systems and their data models do not always harmonize with proprietary anti-financial crime tools. Also, meeting regulatory expectations for near real-time analysis to detect and prevent fraudulent activities depends on a financial institution’s ability to properly leverage and integrate scalable, innovative data processing technologies.

To address these challenges, Commerzbank and Deloitte collaborated to build a solution that ensures harmonization of a global transnational customer risk rating based on sourcing several data pools including customer data, transaction data and compliance data. The designed and implemented solution enables a holistic approach to customer risk rating and streamlined advanced customer due diligence. This was achieved by utilizing the Google Cloud Platform environment of Commerzbank including big data storage and various cloud native services (e.g. serverless) while data were pre-processed and sourced from the bank’s strategic on-premise Big Data Lake. The resulting global harmonized customer risk data provisioned as rich data APIs could be seamlessly integrated into all relevant customer management systems of the bank. During the session Dr. Falk Fraikin (Head of Customer Data Management at Commerzbank), Dr. Marko Ernsting (Senior Manager at Deloitte Consulting) and Andreas Schleiter (Partner for AI+Data in Insurance within Deloitte Germany) will present the situation before the project. Afterwards the concepts and designs for the implementation will be shared. Including key success factors for building a risk rating data platform designed for future regulatory, performance and data security requirements.

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