Case Study: a top 10 regional bank reduces transaction monitoring backlogs and achieves a 5.5% SAR filing rate with Exiger

Exiger delivers an efficient transaction monitoring alert lookback at a higher quality level, resulting in 5.5% SAR filing rate—up from 0%

Exiger worked with a top 10 regional bank in the US that was dissatisfied with a prior consultant’s review of transaction monitoring alerts. After another firm completed the review without filing any suspicious activity reports, regulators required the bank to revisit the alerts, creating a need for a higher-quality look-back.

Exiger was retained to review 2,200 transaction monitoring alerts, supported by a team of five analysts and one quality control manager. Exiger’s work led to a 5.5% SAR filing rate, and the bank later passed regulatory review of the population with no adverse findings. The bank also asked Exiger to continue supporting its business-as-usual population for an additional five months.