Payoneer reduces case handling time by 40% with process automation

Payoneer is a fintech company that provides business-to-business money transfers, digital payment services, and working capital. Like other regulated financial companies, Payoneer has a process for managing its anti-money laundering (AML) and fraud prevention case management.

A major aspect of Payoneer's fraud prevention process includes submitting Suspicious Activity Reports (SARs) to The Financial Crimes Enforcement Network (FinCEN); a bureau of the United States Department of Treasury. The company was looking to automate its process of identifying cases as well as completing and submitting SAR reports.

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CHALLENGES

Employees were investigating potentially suspicious or illicit account activity based on back-office system reports, emails, and other manual forms of communication from various departments and account holders. They would then manually fill out a SAR report and submit it to FinCEN.

Payoneer wanted to streamline and automate its case investigation process to reduce the amount of employee time and manual intervention required.

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"Working with Bits In Glass to automate our case management practices has greatly improved our productivity and increased company-wide efficiencies. The Appian knowledge and expertise they brought to our team was not only impressive but essential for the success of the project. In addition to providing us with a streamlined and automated case management solution, they also invested in training and coaching our developers to be successful in Appian, enabling us to be self-sufficient and successful well into the future. Thank you Bits In Glass, it was an absolute pleasure working with you."

- Sharon Dvir, Risk Automation & Technology Group Leader, Payoneer

RESULTS

Reduced case investigation handling time by 40%

Improved account holder protection

Reduced risk and exposure to financial fraud