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Meso, the leading on-and-off ramp solution for digital asset platforms, faced the challenge of managing a growing volume of AML alerts as they expanded their operations. By implementing Greenlite's AI suite, Meso significantly reduced human time spent on alert handling while raising the accuracy of alert investigations. This allowed their team to deploy compliance and risk resources on proactive risk initiatives rather than handling false positives.
The adoption of Greenlite's solution led to a 90% reduction in alert handling time, a 95% decrease in false positives handled by humans, and 10x increase in alert handling capacity. These large efficiency gains allow Meso to continue scaling its operations effectively while maintaining robust compliance standards.
“When I check the queues in the morning, Greenlite has already completed alert reviews in line with our unique internal policies. The reviews are comprehensive, well-documented, and accurate. They save us so much time, and it’s great to be able to count on such a high level of quality. It’s been a fantastic experience.”
Molly Sterns, Head of Risk & Compliance at Meso
Challenge
As Meso's user base grew rapidly, the company experienced a substantial increase in the volume of AML alerts they needed to review. This surge threatened to overwhelm their compliance team and potentially slow down their ability to onboard new users quickly and securely.
"We were at a critical juncture in our growth. Our alert volume was increasing exponentially, and we needed a solution that could scale with us without compromising on our high compliance standards" says Molly Sterns, Head of Compliance at Meso.
Solution
To tackle this challenge, Meso implemented Greenlite's AI platform to automate their L1 alert reviews in-line with their internal standard operating procedures (SOPs) and Customer Risk Rating (CRR).
“Setup took under two weeks and required zero engineering resources. All we needed to do was share how we wanted alerts reviewed, provide some feedback on a test batch, and connect our systems in a no-code way. It was painless.”
Molly Sterns, Head of Risk & Compliance @ Meso
With Greenlite tailored to Meso's specific policies, integrating seamlessly with their existing compliance workflows and adapting to the unique challenges of their industry space, they were able to start scaling their key aspects of their alert handling:
- Initial screening and categorization of alerts: Greenlite reviews alerts with the thoroughness of a trained AML investigator, allowing it to disposition clear false positives.
- Data aggregation from multiple sources: Greenlite was able to pull in the correct data to complete reviews while maintaining a robust audit log of sources.
- Escalate risks for human review: when a risk based decision needed to be made, Greenlite informed the human team to review the case details. The L2 team noted that their investigations were easier since they could leverage the intelligence, observations and sources that Greenlite had already assembled.
This helped Meso scale their alert handling processes while improving investigation quality, documentation and quality of human reviews.
Results
The implementation of Greenlite AI's solution led to remarkable improvements in Meso's alert handling process:
- 90% reduction in alert handling time: The automated system processed routine alerts significantly faster than manual methods.
- 95% decrease in false positives: Greenlite's AI dramatically reduced the number of false positives that needed a human review, allowing the team to focus on proactive compliance risks.
- 10x increase in alert handling capacity: The same team was able to manage a much larger volume of alerts, supporting Meso's rapid growth.
- Improved accuracy and consistency: The AI-driven system ensured a standardized approach to alert assessment, reducing human error.
The increased efficiency has allowed Meso to redirect their compliance team's efforts towards more strategic initiatives and complex risk assessments.
"The impact of Greenlite's solution was immediate and profound. We've not only kept pace with our growth but have actually enhanced our compliance capabilities. It's like having a tireless, ultra-efficient team member working 24/7."
Allen Newton, Risk Operations Lead @ Meso
Looking Ahead
With Greenlite AI's solution in place, Meso is well-positioned to continue its rapid growth while maintaining robust compliance standards.
"With routine alerts handled automatically, our team can now focus on nuanced cases that truly require human expertise. This has elevated the overall quality of our compliance program," says Sterns.
For fintech platforms looking to balance rapid growth with stringent compliance requirements, Greenlite AI solution offers a powerful, scalable approach to alert handling and risk management.
