Technologies employed included
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Streamlining AML Platform Development
The AML platform provider is a software-as-a-service (SaaS) provider operating in the highly specialised anti-money laundering (AML) space. Its cross-industry client base has a range of compliance, monitoring and customer assessment needs. After taking over a partially finished platform from a previous dev team, Sigli substantially expanded functionality, improved security infrastructure, and upgraded the user interface. Sigli brought the project to completion and successfully onboarded the first new clients.
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Upgraded the user interface (UI)
Expanded the functionality of the client’s AML platform
Improved security, stability and overall performance
Successfully onboarded the first clients
Took over a previous dev team to finish the project
Finance
Small company (less than 50 employees)
Lithuania
The provider offers cross-industry anti-money laundering (AML) software. Its platform covers four main areas: real-time transaction monitoring, AML screening, risk assessments, and incident management.
Its top clients include fintechs, banks, cryptocurrency businesses, and banking-as-a-service (BaaS) providers. That said, it caters to any company that has to adhere to AML regulations.
AML is a complex, regulation-heavy area. The multi-feature platform makes it easier for businesses to remain compliant and run AML tasks with as little manual input as possible.
Anti-money laundering (AML) is a specialised and technical field. The company’s clients expect real-time compliance updates, automation, and continuous AML monitoring and reporting, all via a straightforward interface. In addition, software must scale easily as user’s businesses grow.
When the company approached Sigli, it was struggling with its current dev team. The existing, unfinished platform lacked key functionality and was experiencing bugs. This was problematic as it opened up risks from competitors and created the possibility of client dissatisfaction.
Most importantly, however, development simply needed finishing. Without a working platform, the client couldn’t onboard new clients. And without clients, there was no revenue.
In late 2023, the AML software provider parted ways with the development team it had engaged to finish building its new AML platform. The project was partly completed, but important aspects remained unfinished. Sigli was tasked with expanding and stabilising the platform so that it was ready for use.
The provider had the following project requirements:
Stabilise the platform to ensure scalability and consistent performance
Improve security infrastructure
Expand AML-related functionality
Revamp the user interface
Build a business analytics dashboard
Set up a Dow Jones integration
Onboard the first batch of new clients
The project ran from December 2023 to September 2024, and the team consisted of between two and six developers and engineers at various stages.
Understand the existing platform in light of client requirements.
Set up CI/CD and development environments.
Build the missing features (including a Dow Jones integration).
Secure the production environment and deploy the solution.
Onboard the platform’s first users and collect feedback.
The team was made up of four AI engineers, three full-stack engineers, three frontend engineers, and two quality assurance specialists, alongside a solutions Architect and Delivery Manager. Communication was via virtual meetings, email and a messenger app.
Sigli used the scrum methodology. Standard rituals (including daily meetings, sprint planning and retrospectives) and the oversight of a product owner (PO) ensured effective communication across the team and with the client company.
Here were the project deliverables:
Implemented GitOps to streamline infrastructure management and reduce technical debt.
Delivered a production environment with 99.5% SLA.
Designed and deployed a business analytics dashboard.
Implemented functionality to streamline the AML screening experience.
Replaced individual user databases with a multi-tenant shared database.
Eliminated more than 50 critical vulnerabilities in the system.
Stabilised the system by migrating from Camunda to Tempora.
Built a working Dow Jones integration.
Completely revamped the user interface.
Anti-money laundering tech is complex and not just any software engineer can take it on. Sigli consistently assigned the right people with domain-specific training and experience. The project lasted nearly a year and we worked with different engineers as project needs evolved. Communication was excellent and we’re very happy with the outcome.”
Are you eager to see the benefits of AI and ML in your own company? Get in touch today to learn how Sigli’s developers and AI specialists can enhance and upgrade your tech infrastructure.
Managing Director, Benelux
Chief Business Development Officer
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