How a top 10 bank in the U.S achieved 60x more compliance oversight with PerformLine

About the Client

As one of the top 10 banks in the United States, this bank offers a comprehensive range of financial products and services to over 27 million customers globally. It operates a network of over 1,200 retail branches in the U.S alone, offering personalized banking solutions, including retail, small business, and commercial banking, as well as wealth management and insurance services.

Known for its customer-centric approach, this bank emphasizes convenience and accessibility, supporting its clients with extended hours and a robust digital banking platform, ensuring financial wellness and growth for individuals and businesses alike.

Business Challenges

As a leading financial institution, this bank has a robust merchant and partner network that requires continuous monitoring on top of its owned and operated pages. The internal QA team was manually reviewing all of these web pages, which proved to be time-consuming and only provided coverage on a small fraction of their brand presence across the web.

At this time, their internal compliance team was only able to review around 400 web pages each quarter. This manual approach raised concerns about potential compliance violations that may have been overlooked due to the lack of comprehensive oversight, especially across pages where their brand was being promoted and which they were unaware of.

This bank knew they needed technology to manage the high volume of owned and partner pages, so they looked to PerformLine to automate and scale for complete coverage without adding an extended headcount.

PerformLine Solutions

• Discovery to find previously unknown web pages where their brand was being promoted using our proprietary crawler, the Kraken
• Web Monitoring to  automatically monitor all web pages, both owned and operated, and those from their partners

The Results

60x more oversight and discovery of unknown promotions

Using PerformLine, this bank significantly increased its compliance oversight of its brand across the web. Previously, the bank could only monitor about 400 web pages each quarter. Now, it monitors over 24,000 web pages daily for compliance, including owned and operated pages and those from its 3,200+ partners.

Additionally, 95% of the web pages monitored were previously unknown to the bank and were discovered using PerformLine's proprietary web crawler, the Kraken. All of these would have been impossible to find manually and would have resulted in significant risk gaps.

Streamlined QA and real-time remediation of compliance issues

With PerformLine’s automated technology, this bank has been able to streamline its QA process by flagging compliance observations, creating alerts, and sending remediation notices directly from the platform.

By centralizing compliance activities, this bank has successfully reduced the amount of time it takes to resolve compliance issues across the web. This has led to increased efficiency, improved oversight, and a more seamless compliance process for the bank.

Scalability and efficiency

By partnering with PerformLine, this bank has confidence that its brand is 100% covered and protected across the web and is able to meet regulatory and brand requirements without hiring additional staff. They no longer spend hours manually combing through web pages and can focus only on those that need their attention, allowing them to allocate their time and energy to more pressing compliance initiatives.

They have successfully streamlined their compliance process through automation, making it quick, efficient, and scalable. This has enabled the bank to stay ahead of regulatory changes and maintain a strong online presence while ensuring adherence to industry standards while protecting its consumers.