BBVA Compass is a financial institution with 748 branches; and is a wholly owned subsidiary of BBVA, which has more than $785 billion in total assets.
“Informatica enables BBVA Compass to improve visibility into compliance activities across the business, while reducing risk with timely and trusted data.”
Business Need
- The recent global financial crisis exposed significant shortfalls in the financial services industry’s risk management infrastructure.
- In particular, BCBS 239 highlights the importance of strengthening risk management through appropriate infrastructure and processes for data aggregation and risk reporting.
- Regulatory authorities have responded by issuing guidance designed to pressure financial institutions to bolster their risk management frameworks.
Challenges
- BBVA Compass needed to enhance its level of internal controls and governance pertaining to the bank’s compliance with U.S. regulatory anti-money laundering (AML) requirements.
- The bank wanted a more sophisticated solution that offered broader coverage: a data integration solution that was flexible and scalable to meet current and future regulatory compliance needs.
- In the legacy system, data required for compliance and anti-money laundering resided in multiple disconnected systems, formats and structures.
Solutions & Results
- Deployed Informatica to integrate data from up to 17 source systems, formats, structures and latency (including loans, credit cards, and accounts, plus on-line banking transactions) into an Oracle Mantas AML solution.
- Allowed the bank to source new data 50% more quickly.
- Reduced compliance costs through rapid, open integration.
- Enabled more efficient detection, investigation and reporting of suspected money laundering activity.
- Helped the bank maintain compliance with national and international regulations, and enhanced its ability to implement industry best practices.
- Saved time, reduced staff costs and efficiently managed risk by isolating unusual behaviors and reducing false positive alerts.
Products & Services
Informatica PowerCenter
Accesses, integrates, and delivers any and all data quickly and cost-effectively, without hand coding.
