Case Study: Banked achieves real-time FCA-ready compliance with Flagright

Banked cuts false positives by 60% with Flagright

Banked, a global payment processor, needed to ensure its real-time, account-to-account payments were fully compliant with FCA regulations without slowing down transactions or creating customer friction. Their challenge was moving beyond manual SQL queries to a dynamic and scalable compliance system. They partnered with Flagright to implement its transaction monitoring and risk assessment solutions.

Using Flagright's platform, Banked established real-time detection logic and risk scoring that was aligned with FCA guidance and tailored to its specific risk profile. The solution significantly reduced their manual workload and improved detection accuracy. This resulted in a 60% reduction in false positives and a 50% reduction in the manual resources needed to review transactions, allowing Banked to maintain a state of constant FCA readiness.

Banked