Simplifying the complexities: Navigating the banking and financial services industry with Eli5
Solutions to address challenges around compliance, fraud, and legacy systems
The Billion-Dollar Burden: Uncovering the financial sector's costly issues
Regulatory pressure and subpar compliance practices cost banks and financial service providers
$8B
in regulatory fines in banking
Money laundering and financial fraud is costing banks and financial service providers
$5B
in global fines for AML related issues
Legacy systems and technical debt constraints innovation, costing banks and financial service providers
23-42%
wasted engineering capacity on technical debt and legacy systems
Tackling the sector’s major challenges
Banks and financial services companies are subject to a large number of regulations, and non-compliance can result in significant fines and penalties.
The banking and financial services industry is heavily regulated, and compliance with laws and regulations is a constant challenge. Financial institutions need to adhere to strict rules regarding data protection, anti-money laundering, and more.
Eli5 can help automate compliance checks and ensure financial institutions meet all necessary regulations. This includes using AI and machine learning to analyse new regulations to detect what parts of these regulations require attention, as well as implementing collaborative working to enhance the effectiveness and efficiency of employees. By leveraging Eli5’s RegTech Building Blocks, financial institutions can reduce the risk of non-compliance and fines while improving their overall security posture.
How we help our customers deal with regulatory pressure and compliance
Incorporating regulatory technology (Regtech) solutions to ensure compliance with new regulations and laws
Utilizing legaltech solutions to streamline compliance-related processes and the creation of dynamic polices
Keeping abreast of regulatory changes and proactively adapting internal policies and procedures
Implementing automated compliance monitoring, reporting systems, and fully transparent audit trails
Banks and financial services companies are subject to a large number of regulations, and non-compliance can result in significant fines and penalties.
Eli5 helps financial institutions detect and prevent financial fraud and money laundering. This includes using AI and machine learning to analyse large amounts of data to identify unusual behavior, as well as implementing fraud detection systems that can recognise fraud patterns in real-time.
Eli5’s Fraud Detection Building Blocks can help financial institutions implement effective fraud and money laundering prevention measures while ensuring compliance with regulatory requirements. By leveraging Eli5’s technology, financial institutions can reduce the risk of financial losses and reputational damage caused by fraud and money laundering.
How we help our customers deal with financial fraud and money laundering
Implementing advanced AI and machine learning algorithms to detect and prevent financial fraud
Enhancing transaction monitoring systems to detect suspicious activities and transactions
Integrating anti-money laundering solutions to comply with regulations and prevent illicit activities
Enhancing customer due diligence and KYC procedures to identify potential risks and prevent financial fraud.
Technical debts and legacy systems are a persistent challenge for the banking and financial services industry. Maintaining and upgrading these systems can be time-consuming and costly, and often results in downtime for both employees and customers.
Eli5 can help financial institutions overcome this challenge through modernising their technology stack. Eli5’s FinTech Building Blocks provide a foundation for the development of innovative solutions that can help financial institutions achieve their business objectives while reducing the risk of downtime. The Building Blocks are flexible and customisable, enabling financial institutions to choose the components that are most relevant to their specific needs.
By using Eli5’s Building Blocks, financial institutions can significantly reduce their technical debt, increase efficiency, and stay ahead of the competition. The Building Blocks enable financial institutions to stay ahead of the curve and take advantage of the latest technology trends while retaining their existing systems and processes.
How we help our customers deal with technical debt and legacy systems
Streamlining integration and communication between legacy systems and new technologies to enable a seamless user experience
Automating manual processes to reduce errors and increase efficiency
Implementing integrated data management solutions to ensure data accuracy and security.
Updating and modernising legacy systems with the latest technology to improve efficiency and reduce downtime
Selected case studies
ING Bank Slashes Compliance Time by 50% and Saves Millions in Fines with Eli5's Revolutionary RegTech Solution
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ING Bank Slashes Compliance Time by 50% and Saves Millions in Fines with Eli5's Revolutionary RegTech Solution
Unlock the secrets of regulatory compliance with our comprehensive whitepaper, the perfect starting point for mastering the complexities.
Eli5’s software development:
Sleek, user-friendly solutions solving real-world problems
We work closely with you to understand your business' needs and develop a tailor-made solution. Don't settle for generic software, invest in a custom solution today and see the difference it can make for your business.
Accelerate software development and build 50% faster with our innovative Building Blocks
Our Building Blocks are pre-built modules that form the backbone of the software products we've built for our customers. Combined with our proven design thinking approach we ensure a rapid process to build intuitive and robust software solutions.