UBS faces an ongoing challenge to ensure regulatory compliance. To keep pace, UBS uses Temenos Screen, a centralized, automated detection engine that monitors 99% of all global transactions in real-time, helping prevent payments that could finance terrorism or organized crime. Since deploying Temenos Screen, UBS has achieved greater screening accuracy and increased efficiency by 250%. With fewer false positives than previous tools, UBS has cut total cost of ownership by half and reduced impact on valid transactions.
“Within the last two years using the tools from Temenos, we were able to reduce our TCO by approximately 50%, following a major project to identify our cost saving potential by identifying gaps, centralising as much as we could and making use of our economies of scale.”Peter Haener, Head of AML Monitoring and Surveillance Compliance