Case Study: DFCU Bank achieves real-time AML monitoring and goAML reporting with Clari5

Uganda's Second Largest Bank Activates Real-time AML & goAML Reporting with Clari5

DFCU Bank, Uganda’s second-largest commercial bank with over 700,000 customers and 900,000+ accounts, faced new regulatory mandates from the Bank of Uganda that its legacy end-of-day AML system could not meet. Seeking an automated, cross-channel, real-time solution for AML/CFT and goAML reporting, DFCU Bank selected Clari5 and its Clari5 Real-time AML product to replace siloed monitoring and support customer screening at onboarding and ongoing risk profiling.

Clari5 integrated with DFCU Bank’s Finacle core banking system to deliver extreme real-time transaction monitoring, watch-list filtering, customer risk scoring, case management and goAML-compliant STR/LCTR/ALCTR reporting. As a result of Clari5’s deployment, DFCU Bank automated its entire AML program from onboarding through relationship monitoring, expedited investigations based on risk levels, achieved regulatory compliance with timely goAML filings, and gained dashboards and reports to measure AML effectiveness.

DFCU Bank

Joram Ngabirano

Head of Compliance