Financial Crime World

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Financial Transaction Monitoring in Bolivia: A Growing Challenge

In the post-COVID era, digital real-time banking and near cashless economies have become the norm, resulting in a significant increase in financial transactions. Preventing and detecting financial crime has become one of today’s greatest challenges for financial institutions in Bolivia.

The Challenge of Financial Crime

Our team at PwC’s Financial Crime Unit (FCU) is committed to supporting financial institutions in fighting financial crime by enhancing Transaction Monitoring capabilities. We offer a wide array of complex services designed to help institutions face these challenges, from transformation support to state-of-the-art technology solutions and highly automated operational delivery.

Our Approach to Transaction Monitoring

Our FCU TM framework provides a comprehensive approach to Transaction Monitoring, including:

  • Innovative Technology: Leveraging cutting-edge technologies to enhance Transaction Monitoring capabilities
  • Optimization Support: Providing expert advice on optimizing Transaction Monitoring processes and reducing costs
  • Operational Support: Delivering high-quality operational delivery and ensuring compliance with regulatory requirements

Case Studies

We have worked with various clients in Bolivia, including a national UK bank, an international Australia-based bank, and a Europe-based global bank. Our expertise includes:

Project 1: End-to-End Review of Significant Transaction Monitoring Backlog

  • Client: National UK Bank
  • Project Overview: End-to-end review of significant transaction monitoring backlog with tight regulatory deadline
  • Solution:
    • Establishment of two delivery hubs
    • Multi-disciplinary Central Team
    • DMS workflow solution
    • Tailored MI reports

Project 2: Redesign of the End-to-End Process and Tools for TM Operations

  • Client: International Australia-based Bank
  • Project Overview: Redesign of the end-to-end process and tools for TM operations
  • Solution:
    • Feasibility study
    • Workflow tooling
    • Accelerators for investigation process
    • Proposed roadmap for operational work scale-up

Project 3: Utilization of RPA Solution for Data Extraction from External Sources

  • Client: Europe-based Global Bank
  • Project Overview: Utilization of RPA solution for data extraction from external sources
  • Solution:
    • Identification of external sources and data points
    • IT infrastructure development
    • Delivery of desired results in a streamlined manner

Stay Ahead of the Game

Effective Transaction Monitoring is crucial in today’s digital landscape. Stay ahead of the game by checking out our publications in the “Transaction Monitoring” series.

By partnering with PwC FCU, financial institutions in Bolivia can ensure compliance with regulatory requirements, reduce costs, and enhance their overall Transaction Monitoring capabilities. Contact us to learn more about how we can support your institution’s needs.