EFG Capital was looking for the best solution to revamp their transaction surveillance, documentation, and workflow process.
EFG Capital is a broker-dealer offering wealth management services based in Miami, FL. They offer a wide range of financial account management services. They are affiliated with EFG Capital International Corp. which operates as a subsidiary of EFG International AG, a global banking group based in Switzerland with over 40 locations worldwide.
As a broker-dealer, EFG Capital is required to ensure they have an effective system in place to monitor security transactions, incoming trades, outgoing funds transfers and many other complex transactions. They needed a way to monitor transactions while managing and documenting cases in an organized and efficient manner. Challenged with monitoring transactions from occurrence through the initial review and escalation processes, EFG Capital needed a solution that would meet internal operational review requirements and regulatory expectations.
Implementing Global RADAR’s sophisticated transaction surveillance solution allowed EFG Capital to easily identify even the most complex transactions, which greatly improved monitoring processes and facilitated the identification of possible suspicious activity. The Global RADAR application provided EFG Capital with an effective transaction surveillance and case management tool which allowed for the appropriate review and escalation of transactions which could be easily documented through all steps of the case workflow process.
"Given the high volume of complex transactions we deal with, we felt it was important to have a solution that met all our monitoring requirements. Global RADAR gave us a considerable advantage by providing us the ability to configure rules that would effectively monitor all of our transactions, giving us improved capabilities to identify possible suspicious activity, while automating our workflow and documentation process."
~ Franco Cisne, EFG Capital
BSA Officer
EFG Capital now has an improved solution to monitor transactions, organize and manage case workflows, all while maintaining proper documentation. Overall efficiency improved significantly and they no longer struggle to keep up with their high volume of transactions.
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