Oracle AI Service Improves the Speed and Accuracy of Financial Crime Investigations

Enabling banks to investigate and resolve financial crime cases faster, Oracle today introduced the Oracle Financial Services Crime and Compliance Management Investigation Hub Cloud Service. The new AI-powered case management solution delivers a modern user experience that reduces manual tasks, removes data silos, and elevates the insights investigators need to focus their time on analysis and combating financial crime.

“Bad actors are becoming increasingly sophisticated, leveraging advanced technologies, and exploiting vulnerabilities in traditional systems,” said Jason Wynne, senior vice president, finance, risk, and compliance product development, Oracle Financial Services. “To stay ahead of these threats, financial institutions need flexible solutions that can help them detect, investigate, and prevent financial crime more effectively. Investigation Hub represents a significant leap forward in case management to enable tier-one institutions and smaller banks alike to conduct faster, more accurate, and cost-effective investigations by providing context to the data. With Investigation Hub, data is transformed into an actionable story.”

Investigation Hub leverages integrated graph analytics and embedded AI to automate tasks, streamline workflows, and provide investigators with data-driven insights. The result is enhanced investigator performance, improved task management, more detailed reporting, and consistent decision-making across a diverse team of investigators. Benefits of the solution include:

• A simplified investigator experience: The solution reduces investigation touch time by up to 70 percent by automating manual tasks such as data gathering and SAR filing to streamline workflows and provide a unified view of all case data. This allows investigators to focus on higher-value tasks such as analysis and decision-making.
• Data-driven storytelling: A typical investigation process involves an investigator spending 80 percent of their time gathering data and 20 percent of their time on analysis. With Investigation Hub, investigators can now spend most of their time analyzing rich insights, graph analysis, and auto-generated narratives derived from key data points. This significantly improves the speed and accuracy of investigations conducted.
• Flexibility and configurability: The solution is highly configurable to meet the specific needs of different institutions and investigation teams, with a user-friendly interface that can be tailored to different roles and responsibilities. This allows institutions to create an investigator-centric experience that maximizes efficiency and effectiveness.

Built on the high performance, flexibility, and security of Oracle Cloud Infrastructure (OCI), Investigation Hub integrates seamlessly with other Oracle Financial Crime and Compliance Management Cloud Service (FCCM) solutions and third-party data providers to provide a comprehensive view of customer activity and risk. The solution will be regularly updated with the latest AI and machine learning capabilities from OCI Generative AI service to help address regulatory changes so institutions can use the most advanced tools and capabilities while helping to support compliance.

Investigation Hub is part of the Oracle FCCM portfolio, an end-to-end suite of financial crime and anti-money laundering (AML) SaaS applications. These solutions have been tailored to meet the specific AML and FCCM requirements for global banks and financial institutions for more than 25 years.