Case Study: Banco de Costa Rica Achieves Automated Transaction Monitoring with Alessa by Tier1 Financial Solutions

Alessa for Transaction Monitoring

Banco de Costa Rica (BCR), one of Latin America’s leading financial institutions, needed a better way to manage internal audit and transaction monitoring. Its Internal Audit team was relying on a data analysis tool to test controls across 150 branches, but the process created too many exceptions and reports to review, made it difficult to track branch responses, and left the department reacting to issues instead of preventing them. BCR turned to **Alessa, by Tier1 Financial Solutions** to help improve oversight and compliance.

With **Alessa**, BCR automated monitoring of electronic transactions, distributed exceptions and reports to the right branch personnel, managed workflows through case management, and escalated unresolved breaches automatically. As a result, more than 95% of alerts are now resolved on time each month, month-end reporting takes hours instead of days, and the bank has built a repository of cases and remediation history. BCR has also implemented more than 300 rules-based tests to monitor over 300 controls.

Banco de Costa Rica