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The Heat is On: Meet your AML Compliance Challenge

Michael Heffner, Vice President, Solutions and Industry Go To Market
August 25, 2016

Picture this scenario. You are preparing to binge watch Netflix with a fresh batch of salsa. This time you decide to go rogue and add that sweet chili pepper you bought at the market the other day. Now you load up a tortilla chip, take a big bite. YIKES! Your esophagus feels like it's on fire. Turns out that chili pepper you purchased was a fiery hot habanero, one of the hottest peppers on the planet.

For financial services executives, this might be exactly the feeling you get from the heat of regulatory complianceÖ that's how hot the issue is among bankers.

Focus on Compliance at Sibos

Financial services firms are under tremendous pressure from regulators, ratings firms, and law enforcement officers to improve their Anti-Money Laundering (AML) programs. If they fail to address AML requirements proactively, the risks grow more expensive in terms of penalty, reputation, and even the ability to conduct business. Enough said then, that financial services institutions need to be increasingly vigilant as regulators continue to raise the standard for corporate integrity. What's intriguing is a survey of 280 senior-level executives of financial institutions with $3 billion or more in assets by compliance services firm NextAngles found 79% respondents listed enterprise-wide compliance and integration of their anti-money laundering program as a top challenge - indicative of increasing anxiety around AML. (Source - Survey roundup - Integrating Compliance into your AML program)

Compliance will be one of the key focus areas at the upcoming Sibos Conference in Geneva. Are you ready to check out the latest strategies and technology with tangible outcomes, that will enable your business to stay compliant? Register today to schedule a meeting with an Appian executive at Sibos.

Good AML Management is Serious Business

Compliance violations are a serious matter - implications run to the billions of dollars and impact both the firm and multi-national security. At the same time, traditional technology and IT systems have shown significant weaknesses to effectively manage risk. So what is the answer?

The innovative digital platform technology from Appian enables automation for accuracy and standardization while providing increased communication and collaboration. This results in an integrated and holistic compliance approach.

Appian has solid experience in addressing AML at financial services institutions like Grant Thornton and FirstBank.

FirstBank Deploys Anti-Money Laundering in the Appian Cloud

FirstBank is the largest locally-owned banking organization in Colorado with $15+ billion in assets. Senior managers at the bank deployed Appian's digital platform capabilities in the Appian Cloud, to rapidly identify and resolve potential money laundering schemes.

The Appian platform delivered fast time-to-market, and came with the ability to fine tune the solution to meet FirstBank specific requirements. The central feature of the platform is Appian's enterprise data management capability, Appian Records. These records provide a full-visibility snapshot into the status of all potential AML cases, along with all associated case information, documentation, comments, and collaborations. The Appian system also includes a Quality Control process that provides a random set of cases to internal auditors to review the quality of case handling.

"Appian was chosen because it is a performant, secure, and reliable platform on which we could quickly implement AML Case Management," said Ryan Buerger, IT Director at FirstBank.

How are you dealing with compliance issues?

We hope to see you at Sibos for a demo and discussion. Can't wait until September to learn more? Get the whitepaper to learn how you can avoid anti-money laundering vulnerabilities and improve overall compliance with government regulations. Then come visit with us at Sibos: Schedule a meeting with an Appian executive to discuss proven strategies to transform your business. Register today to schedule a meeting with an Appian executive at Sibos.

I look forward to Sibos and meeting with you in Geneva. As you finalize your plans, send me an e-mail at: and we'll set up a time.

Michael Heffner

Global Practice Lead, Financial Services