Top 10 Regional Bank in the US


Our client had previously worked with another firm to conduct the review, which resulted in zero suspicious activity reports (SARs) being filed and a review by Regulators that forced the bank to revisit the alerts and review them once more. Exiger was asked to review alerts that had already been reviewed by another consultancy because the Bank was not satisfied with quality of competitor consultant firm. 


Exiger was retained to conduct a look-back of 2,200 transaction monitoring alerts. A review team of 5 analysts and 1 quality control manager supplemented the Bank’s transaction monitoring team to complete the alert review. Exiger presented escalations in front of senior management for consideration of SAR filing. Exiger’s quality and pace was recognized by the Bank and Exiger was asked to continue working through its BAU population as an extension of the team for an additional 5 months.


Exiger’s review of the alert population resulted in a 5.5% SAR filing rate. Subsequent regulatory review of this population resulted in no adverse filings. This not only saved the client the time of repeating the review, but it also gave them confidence that they now had a sound transaction monitoring framework in place.

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