The results
10x
growth in transaction volumes while maintaining risk coverage
Minutes
not months, to uncover financial crime network connections and trends
50%+
analyst weekly high-value investigative capacity
Key takeaways
- ClearBank anticipated a tenfold increase in transaction volumes within a single year and needed transaction monitoring that could scale without compromising compliance standards.
- ClearBank integrated ThetaRay AI Transaction Monitoring into its cloud infrastructure to detect suspicious behaviors across customers, accounts and transactions for various business lines.
- With ThetaRay analytics and network insights, ClearBank investigators uncover connections and trends within minutes, a task that previously took weeks or even months.
- By filtering out false positives, ThetaRay reduced the volume of low-quality alerts requiring manual review and helped ClearBank achieve significant cost efficiencies.
Why do traditional approaches consume excessive resources?
ClearBank is a cloud-native tech-bank that provides fully regulated banking infrastructure, real-time payment clearing and embedded banking services to financial institutions, fintechs and corporations. For a business like this, financial crime compliance systems must be as agile as the core architecture. However, rapid growth brings immense compliance pressure.
- Excessive operational noise: ClearBank's leadership recognized that traditional financial crime compliance frameworks were generating too much noise. This consumed significant investigative resources to manage false positives.
- The 10x growth challenge: Anticipating a tenfold increase in transaction volumes within a single year, ClearBank needed a solution that could scale instantly.
- Zero compromise mandate: The bank needed to handle this massive scale while maintaining robust, uncompromising compliance standards.
“ThetaRay is certainly enabling our growth. In a year's time, we'll be doing 10x the volumes that we're doing today.”
Justin Pascoal-Reynolds, Program Director, ClearBank
| Traditional rule-based triage | ThetaRay AI | |
|---|---|---|
| Outcome | High operational noise led to excessive false positives, taking weeks or months to uncover connections. | Enhanced risk coverage reduced false positives, allowing deep network connections to be uncovered in minutes. |
Empowering growth with AI transaction monitoring
To support its global expansion, ClearBank partnered with ThetaRay, integrating AI Transaction Monitoring seamlessly into its cloud infrastructure.
Instead of relying on rigid, traditional approaches, ThetaRay's AI detects suspicious behaviors across customers, accounts and transactions for various business lines. This precision allows ClearBank to focus entirely on genuine risks without sacrificing coverage.
Results: efficiency gains and proactive scale
ClearBank's partnership with ThetaRay has been instrumental in its operational transformation:
- Network insights in minutes: Analytics and network insights now allow ClearBank's investigators to uncover connections and trends within minutes. Previously, these same tasks took weeks or even months.
- Investigator productivity: By heavily filtering out false positives, the solution drastically decreased the volume of low-quality alerts requiring manual review, streamlining overall operations.
- Cost savings: Reducing the investigator workload allowed ClearBank to achieve significant cost efficiencies, even while maintaining robust risk management practices.
- Trust and credibility: Enhanced, AI-driven compliance measures have reinforced customer confidence in ClearBank's absolute commitment to fighting financial crime.
“Financial crime compliance is a balancing act between risk coverage and doing it effectively and efficiently. And I can comfortably say that ThetaRay allows us to do that.”
Yasemin Swanson, Chief Operating Officer, ClearBank
Leadership lessons for operations leaders
- Make compliance a strategic enabler: Upgrading your compliance technology isn't just about risk mitigation or operational efficiency. ThetaRay's Transaction Monitoring empowered ClearBank to pursue aggressive global expansion with confidence.
- Invest in scalability early: Anticipating 10x growth requires adopting solutions before volume breaks existing legacy frameworks, which could otherwise generate financial crime risk exposure.
- Enhance visibility to increase productivity: Giving analysts advanced detection and visual network insights accelerates investigation times exponentially, allowing teams to uncover organized typologies faster and with fewer resources.
Frequently asked questions
Why did ClearBank adopt AI transaction monitoring?
ClearBank's traditional financial crime compliance frameworks generated too much noise and consumed significant resources on false positives. ClearBank also anticipated a tenfold increase in transaction volumes within a single year and needed a solution that could scale without compromising compliance standards.
How does ThetaRay AI Transaction Monitoring work at ClearBank?
ClearBank integrated ThetaRay AI Transaction Monitoring into its cloud infrastructure. ThetaRay's AI detects suspicious behaviors across customers, accounts and transactions for various business lines, so ClearBank can focus on genuine risks without sacrificing coverage.
How much faster are ClearBank's financial crime investigations with ThetaRay?
With ThetaRay analytics and network insights, ClearBank investigators uncover connections and trends within minutes. The same tasks previously took weeks or even months.
How did ThetaRay affect ClearBank's false positives and costs?
ThetaRay filtered out false positives and drastically decreased the volume of low-quality alerts requiring manual review. The reduced investigator workload allowed ClearBank to achieve significant cost efficiencies while maintaining robust risk management practices.
What can operations leaders learn from ClearBank's approach?
ClearBank's experience shows that compliance technology can be a strategic enabler of growth, that scalable solutions should be adopted before volume breaks legacy frameworks, and that visual network insights help analysts uncover organized typologies faster and with fewer resources.
