Case Study: U.S.-based retail bank cuts AML false positives 58% and saves $10M/year while boosting investigator efficiency with Precisely Spectrum Entity Resolution

U.S. Based Retail Bank Minimizes AML Compliance Risks While Improving Investigator Efficiency

U.S. Based Retail Bank faced a sharp spike in AML screening alerts after deploying a new watch‑list tool, generating many duplicate alerts for the same individuals (e.g., multiple name variants and data-entry errors) and forcing investigators to waste time on redundant cases. To resolve this, the bank engaged Precisely and its Spectrum Entity Resolution solution to create a consolidated, single view of each individual across systems.

Precisely customized Spectrum Entity Resolution to resolve name variants, apply survivorship rules and consolidate duplicate alerts before they reached human investigators, auto-closing related cases when one was cleared. The deployment cut false positives by 58% within two weeks, improved investigator productivity, preserved regulatory compliance, and avoided about $10 million per year in investigation costs.