City National Bank (CNB) is based in Miami, Florida and is in the top five largest financial institutions in the state of Florida. City National Bank has over $4.9 billion is assets, 450 employees, and 26 locations in the state. They have a proud reputation of excellence, having recently received a 5 star “Superior” rating by Bauer Financial, the top bank-rating firm.
Iberia’s past compliance troubles have been well-documented and widely reported. As recently as 2016, Iberia of Coral Gables was hit with a grand total of $4 million in fines related to BSA violations. The Financial Crimes Enforcement Network (FinCEN) fined them $1.5 million for failing to file suspicious activity reports (SARs) related to over $500 million in transactions. Not only was Iberia fined by FinCEN, but separately by the Office of the Comptroller of the Currency (OCC) for $2.5 million. In 2014 they were placed under consent order and advised to address certain deficiencies in their compliance program.
EFG Capital, a Miami-based broker-dealer offering wealth management services, needed a solution to enhance their transaction monitoring, documentation, and workflow processes. As part of the global EFG International AG banking group, they faced challenges in efficiently tracking complex transactions, including security trades and fund transfers, while meeting regulatory requirements.
Bci Miami, the U.S. branch of Banco de Credito e Inversiones, faced challenges in onboarding international clients and assessing risk across diverse political and geographic regions. With clients spread throughout Central and South America, Bci needed a solution to streamline customer onboarding and apply accurate risk assessments without requiring clients to visit branch locations.
A global software company experiencing exponential user growth needed SME consultancy support to design and implement a robust sanctions screening framework, and then operationalize it. Operating under a freemium model, the platform had limited user verification data—making it vulnerable to compliance risk as it moved closer to a funding milestone and potential IPO.
The client, a multinational insurance firm, faced growing compliance challenges due to the volume of false positives in their Sanctions and UBO screening processes. By adopting Global RADAR’s Sanctions Clearing Service (SCS), they significantly improved the accuracy of their screening determinations and freed up compliance resources to focus on higher-priority tasks.
The client is a business process and technology services provider and integrator. It provides technology-enabled business services to many industries, among them the commercial insurance industry. In outsourcing, the client typically takes over a customer's business process and back-office function
The regulatory landscape for financial institutions has become increasingly complex, with heightened scrutiny on compliance and risk management. Organizations face mounting challenges, including expanding regulations, stringent Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements
A fast-growing global speciality insurer engaged Global RADAR to lead the overhaul of its sanctions screening system. Facing increasing regulatory pressure, particularly following a wave of Russian sanctions and a critical FCA industry review, the client needed a solution that could effectively scale with the business, improve outcomes
