Case Study: Large American Bank strengthens sanctions screening with SymphonyAI

US$13m agreement with SymphonyAI to keep a watchful eye on sanctions risk

A large American Bank needed a more capable name screening solution to handle massive screening volumes and reduce sanctions risk, after losing trust in its incumbent provider. SymphonyAI was brought in to support the bank’s Watchlist Management needs, helping address the demands of high-volume financial crime screening.

SymphonyAI delivered a proof of concept, worked closely with a dedicated team at the bank, and demonstrated deep expertise in screening for tier 1 financial institutions. The results showed SymphonyAI could screen over 400 million names and process 100 million customers in just 2.5 hours during the POC, leading to a five-year, US$13 million agreement. The bank later expanded its use of SymphonyAI to include PEP and adverse media screening, with an AI upgrade to further strengthen sanctions screening.