Case Study: Ocean Systems achieves comprehensive PATRIOT Act compliance and real-time fraud detection with GeneXus

Ocean Systems - Customer Case Study

Ocean Systems, a provider of compliance and EFT solutions for the banking sector, needed to meet new US PATRIOT Act requirements to detect money laundering, monitor client activity, and support enhanced due diligence. To address this, Ocean Systems built the Enhanced Compliance Solution (ECS) using GeneXus (with assistance from GeneXus USA), creating an alerting and case-management platform to document, follow up on, and analyze suspicious transactions.

Using GeneXus and GXflow, Ocean Systems delivered ECS modules including PREVENT (automated client risk scoring), an OFAC/PEP interface, and a Real Time Fraud Module that can suspend suspicious SWIFT, ACH, and wire transfers. ECS has been deployed across banks in the US and Latin America, with the PREVENT module incorporated in the majority of installations; GeneXus reduced development costs, improved flexibility, and accelerated time-to-market, enabling ongoing enhancements by a small team.

Ocean Systems