Correspondent banking dashboard demo

Correspondent banking is a business line which poses serious anti-money laundering risks to financial institutions.  The fundamental problem is that correspondent banks provide services to their customers' customers.  In other words, the correspondent bank could provide US dollar clearing services to the customers of an international bank located outside of the United States.  Essentially, the correspondent bank is relying on the respondent bank to conduct the appropriate due diligence on their customers.

One strategy financial institutions can implement is to develop data visualization dashboards which can help identify risks not easily ascertained by the traditional transaction monitoring systems (TMS).  The below dashboard illustrates one way financial institutions can use data visualization for correspondent banking.  Each transaction is risk rated individually and then aggregated to identify trends at the customer, bank and country level.