Turbocharging anti-money laundering

Anti-Money Laundering (AML) and Fraud Detection software provides round-the-clock transaction monitoring, assists investigative operations, identities risks, profiles behavior, helps with diligence activities and enables filing of Compliance Reports - activities crucial for AML compliance by Financial Institutions.

A Financial IT Products and Services Company was facing a grave situation - one with potentially serious implications for its future. With customers - which included some of the world's leading financial institutions - reporting hung or crashed systems when handling large transaction volumes, the company's star Anti Money Laundering (AML) and Fraud Detection application, and its performance had come under a cloud.

The customer had to switch to damage-control mode, and assure customers that the problem could be quickly resolved. They hired the services of Imaginea to quickly resolve this problem. Imaginea helped this customer stabilize the system, so that it was stable during peak loads and achieved the client's target of handling seven million transactions per day!

Improved AML performance by design

1. The system crashed or hung when handling large feeds, affecting overall application performance
2. For the AML, handling large volumes of transaction data without affecting performance was crucial, i.e. end users had to continue accessing the AML application even as the system handled large transaction volumes.
3. The client set a target transaction volume for the system after it was re-architected and re-designed - seven million transactions per day (bank transfers or credit card charges)
4. Imaginea provided a JEE-based architecture which used JMS (Java Message Service) and MDB (Message-Driven-Beans) to even the feed-time spikes and handle large transaction volumes.
5. In the new system, the large volume of transaction data generated is queued up and a MDB pool is maintained to handle this data asynchronously without causing spikes, which disrupted overall application performance, earlier.

Thanks to Imaginea, there was an overall improvement in system performance, and the company's customers had a stable system, smoothly handling peak transaction loads.