A major Australian bank serving around one million customers across Australia and New Zealand has successfully tackled longstanding inefficiencies in its anti-money laundering (AML) operations by adopting SymphonyAI’s technology.
According to a case study from the company, the bank had been struggling with high volumes of false positives generated by its legacy AML monitoring systems, which led to increased operational costs and diluted the focus on actual financial crime threats. Faced with a tightening regulatory environment and increasingly sophisticated criminal tactics, the institution recognised the need for a smarter, AI-powered approach.
To solve this, the bank deployed SymphonyAI’s SensaAI for AML—an artificial intelligence solution designed to work alongside existing compliance infrastructure without requiring a complete system overhaul. The platform quickly delivered measurable results, cutting false positives by over 47%. It also revealed complex criminal patterns that traditional rules-based systems had failed to detect. One of the standout features of the SensaAI platform is its transparency—its explainable AI outputs helped compliance teams make faster, more confident decisions.
This transformation led to a notable reduction in the workload of the bank’s investigation team. With fewer false alerts to review, analysts were able to redirect their focus toward identifying and investigating genuine financial crime threats.
Encouraged by the impact of the solution on its AML efforts, the bank is now exploring the extension of AI into other compliance functions. This includes sanctions screening and Know Your Customer (KYC) processes, where AI can further streamline operations and improve risk detection.
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