Challenge
Sling, the fast, simple, and global money transfer service, was preparing to launch across multiple geographies but knew that it would quickly be overwhelmed with AML alert handling. As a fast growing startup, they valued the ability to leverage modern technology to solve this problem rather than scaling manual, operationally intensive processes.
"We were adamant about not just throwing more bodies at the growing AML alert challenge. We believed automation could be our friend, allowing us to accelerate our growth without sacrificing compliance integrity."
- Grace Moloney, Head of Compliance and Financial Crime at Sling
They also needed to handle alerts for customers across multiple countries, languages and screening systems, making any potential solution a challenge.
Solution
Sling deployed Greenlite’s Alerts AI to increase the speed and investigation quality of their financial crime team. Alerts AI uses generative AI and open-source intelligence to conduct automated research into the potential match, freeing up financial crime teams to focus on risk-based decision making.
Within two weeks of signing up, Alerts AI was able to take alerts from Sling’s screening service and use AI to evaluate them effectively.
"Greenlite's solution didn't just meet our expectations; it exceeded them from day one. The speed and accuracy with which we could now handle alerts allowed us to not only keep pace with our growth but also enhance our compliance posture simultaneously."
- Grace Moloney, Head of Compliance and Financial Crime at Sling
Results
By using Greenlite's Alerts AI, Sling achieved:
- 50% reduction in alert handling time: Sling's financial crime team was able to process routine alerts in half the time, significantly boosting their operational efficiency.
- 2x more alerts with the same staff: The same team was now able to handle twice as many alerts, effectively scaling their operations without additional hires.
- Improved confidence in alert assessments: The addition of comprehensive research, documentation, and contextual analysis into each investigation allowed for more confident compliance decisions.
“Alerts AI has saved our compliance team huge amounts of time and is part of why we believe we can build Sling into a product used by billions while keeping our core team relatively small.”
- Mike Hudack, Chief Executive Officer, Sling
