Jerry Chou is the Chief Compliance Officer for the cryptocurrency arm of LINE, one of the largest messaging applications in Japan and throughout Asia-Pacific. He’s been leading a team of highly skilled compliance analysts who are tasked with meeting the demands of their product’s growing user base.
Unfortunately, supporting the exponential growth meant that there were not enough engineering resources for the company’s own internal risk and compliance operations. The team had been handcuffed to an antiquated operating model, which had them performing manual and tedious spreadsheet updates.
The existing system had been borrowed from another department, so Jerry’s team had to work around that system. Moreover, the overwhelming majority of alerts were flagged as false positives, which meant an increasing workload for the team as product usage scaled. To modify existing rules and reduce false positives, Jerry’s team needed to create requests and wait hours, or sometimes even days, for answers.
After a great deal of analysis and feedback from the team, Jerry realized that he needed a solution that could integrate quickly, provide a high degree of customizability for changing needs, and increase operational efficiency.