Case Study: OakNorth Bank reduces false positives and streamlines AML screening with ComplyAdvantage

OakNorth Bank cuts false positives with ComplyAdvantage, hitting just 2.3% for new applicants

OakNorth Bank, a UK-based commercial lender, faced fragmented and inefficient compliance processes. Their anti-money laundering, PEP, and sanctions screening was split across multiple providers, generating a high number of false positives and consuming valuable time. To address this, they sought an API-driven solution from ComplyAdvantage for customer screening and ongoing monitoring to consolidate workflows and integrate with their existing tech stack.

ComplyAdvantage implemented its screening and monitoring solution, working closely with OakNorth to configure search parameters and tailor case management workflows. The result was a significant reduction in false positives, with hit rates of just 2.3% for new applicants and 4.1% for the overall portfolio. This allowed the bank's team to spend less time on reviews and more on value-add activities. OakNorth also praised ComplyAdvantage for its exceptional, personalized customer support and the ease of use of the unified platform.

OakNorth Bank