Raymond James

Raymond James, a diversified financial services firm, was facing upcoming capacity concerns and wanted an alternative to onboarding staff augmentation contractors. 

Raymond James selected Evelyn, an automation solution for name sanctions, PEP, and other watchlist alert review, with pre-built models for data-point-by-data-point comparisons, including name, date, and location matching. By effectively “hiring” Evelyn, Raymond James eased the burden of false positives, integrating her with their case manager to source alerts and associated customer data, and leveraging her ability to pull-in 3rd party data (like historical addresses) and geolocation analysis (such as address details and distance) to identify true matches.

With Evelyn on the team, over half of alerts (52%) no longer need manual review and those remaining have far less work to do (50-60% effort reduction) for an overall reduction in manual effort of 70%. Further, the process is now more consistent in review decisioning and supporting documentation, with resiliency against volume spikes, as well as integrated real-time sampling for ongoing model validation – mitigating risk along with the efficiency improvements.