Deutsche Bank Customer Story

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Operational challenges are the drivers for automation

Global enterprise Deutsche Bank’s assets are over $708B, and its presence extends to 58 countries.

The organization faced operational hurdles following a period of rapid growth:

Silos of data and unlinked systems meant wasted time for employees moving information manually.
Mountains of paper and electronic forms required employees to process files and fact-check by hand.

Deutsche Bank selected WorkFusion to streamline processes with unstructured documents, databases, internal systems, and third-party systems. Collaborating for more than three years, Deutsche Bank and WorkFusion implemented practical, ROI-driven automation solutions — supporting customer experience, revenue growth, and transformation initiatives worldwide.

Read further or download the case study to learn how Deutsche Bank transformed its KYC operations with WorkFusion® Intelligent Automation.

Case study: Transforming KYC into an innovative advance screening methodology

Challenge:

Deutsche Bank employees spent more than 40 hours per account in account investigations and AML efforts such as screening addresses, suspicious transaction tracking, adverse media monitoring, and checking for politically exposed persons (PEP).

New account screening and refresh screenings were highly manual and required thousands of people to scan news reports for keywords and flag words. This left less time to perform the higher-value deep analysis required for a robust AML program.

Solution:

WorkFusion Intelligent Automation completes the same work in less time and with significantly more depth: It doesn’t just look for keywords but leverages AI to consider their context. This sharply reduces false-positive results, helping analysts and remediation teams to utilize their core competencies and focus their time on items of potential account risk or compliance concerns.

Also, a forward screening model allows the bank to track AML activities more rigorously, to keep them ahead of risks and threats.

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Automating Document Processing

WorkFusion’s Document Intelligence capability also helps Deutsche Bank analyze and process large volumes of various types of unstructured documents daily.

Previously, the bank's employees had to manually process documents — a costly, time-consuming and cumbersome operation. Now, learning bots digitize documents, extract relevant information, and record data in the banking systems, saving the bank millions in costs and allowing teams to re-allocate employees’ time to higher-value tasks.