top of page

Case Study: Valley Bank and Refine's Direct User Outreach


Discover how Valley Bank revolutionized its Anti-Money Laundering (AML) approach using Refine Intelligence’s Digital Customer Outreach. Facing a surge in AML alerts and a lengthy manual RFI process, Valley Bank embraced Refine’s Digital Customer Outreach to significantly reduce customer friction and easily scale its AML operations. This case study illustrates the transformative journey from a time-consuming, inconsistent manual process to a streamlined, digital customer outreach system, resulting in faster resolutions, higher completion rates, and positive customer sentiment.


Key Takeaways:

  • Rapid Inquiry Resolution: The digital transformation cut down the median inquiry resolution time from 16 days to a mere two minutes.

  • High Customer Engagement: Achieved an 85% completion rate for digital RFIs with overwhelmingly positive or neutral customer sentiment, indicating stronger customer relationships and reduced friction.

  • Operational Efficiency: Enabled a 60% reduction in front-line AML customer outreach, allowing the Financial Crimes team to focus on priority tasks and reclaim valuable work hours for strategic initiatives.

  • Consistency and Data Quality: The digital platform ensures consistent, structured inquiries, leading to more detailed data collection and deeper customer analytics.


Comments


bottom of page