Case Study: U.S.-Based Retail Bank achieves 58% fewer false positives and $10M/year cost savings with Pitney Bowes Spectrum® Entity Resolution

U.S.-based retail bank minimizes AML compliance risks while improving investigator efficiency

U.S. Based Retail Bank, a provider of consumer financial services, faced a spike in anti-money-laundering (AML) screening alerts because it lacked a single, consolidated view of customers—resulting in many duplicate and false-positive matches that wasted investigator time. To solve this, the bank engaged Pitney Bowes and its Spectrum® Entity Resolution solution.

Pitney Bowes customized Spectrum® Entity Resolution to resolve name and address variants, apply survivorship rules, consolidate duplicate alerts, auto-close related cases, and filter out non-watchlisted individuals. The implementation reduced false positives by 58%, limited alerts to at most one per person per day, avoided roughly $10 million/year in investigation costs, and was delivering results within two weeks—improving investigator efficiency without compromising regulatory compliance.