faster event tracking
manual effort reduction
improvement in response times
Elevating Anti-Money Laundering Efforts with Splunk
As an established Splunk partner, we are excited to share a success story in the area of anti-money laundering (AML). Our client Ryvyl EU faced significant challenges in tracking and analyzing financial activities. Learn how our custom Splunk application provided an innovative and efficient solution.
Ryvyl EU, a fintech organization, is committed to combating financial crimes. Their major challenge involved efficiently managing large volumes of data to monitor suspicious transactions. The goal was to facilitate real-time data access and offer in-depth historical analysis while simplifying the reporting process.
- Consolidated Application: Combining various business scenarios into one comprehensive Splunk application.
- Instant Data Visualization: Enabling near real-time visualization and notifications for proactive monitoring.
- Historical Data Analysis: Equipping Ryvyl EU with tools for extensive historical data examination.
We at BRIGHT developed a customized anti-money laundering application built on Splunk. Key features of this solution include:
- Real-Time Automated Information: Immediate access to the latest data upon accessing the dashboard.
- Robust Data Management: Secure storage and management of data and events, with options for custom data filtering.
- Increased Operational Efficiency: Drastically reduced manual tracking and report generation efforts.
- Flexible Alert System: Capability to customize alerts for automated responses, such as halting suspicious transactions.
Ryvyl EU’s operations were transformed through:
- Enhanced Monitoring: Continuous, real-time observation of financial transactions.
- Centralized Data Repository: A secure, single source of all indexed data, including historical alerts and transaction details.
- Time-Saving Automation: Fully automated data analysis and alerting, significantly cutting down manual tasks.
- Comprehensive Reporting: Intuitive visual reports with pre-set alerts for tracking unusual activities.
- Quicker Response Time: Improved customer service with immediate reactions to alerts.
Our custom Splunk application significantly bolstered Ryvyl EU’s anti-money laundering measures. It improved data transparency, minimized response times, and streamlined reporting processes, proving to be an indispensable tool for financial institutions focused on security and efficiency.