1.
e-know your transaction (e-KYT)
solution for financial crime compliance
Case study
Context:
A global bank facing issues with financial crime
compliance was seeking a solution for
automating, simplifying and hastening its data
governance process and data protection.
Solution configuration:
• Append-only database, allowing the storage
of payment attributes and related
documents
• Tokenization and indexation engine
managing transaction documents and
attributes
• Auditing trail — digital stamp on events for
internal auditors and regulators
• Enabling integration with banks channels —
web portals and mobile apps
• Validating information to be sent when
requesting restricted information
• Payment screening system connector to
automatically request and retrieve
Client impact:
• Automate and control processing of both
sent and received requests for information
of payments
• Increase transparency of the purpose of
transactions with controlled sharing of
supporting documents and KYC information
• Enable auditability of payment processing
and compliance checks with immutability
and irrefutability supported by distributed
ledger technology
Contact us
Challenges faced by institutions
Detection of financial crime and insufficient AML technology
Long transaction processing time and tedious process
Discrepancies in documentation because of paper-based documentation
Varun Mittal
EY Global Emerging Markets FinTech
Leader
varun.mittal@sg.ey.com
Automated data sorting and analytics
AI-enabled data
governance
Classify data and log
the results in a
distributed ledger
Monitor and track
data to provide
meaningful insights
Distributed public key
infrastructure
Lean application stack,
which minimizes the IT
cost required to scale
Know your Transaction
(KYT)
Comply with data
protection regulations
Financial crime
compliance
Eradicating manual and
repetitive work prone to
human error
Leading interfaces and technology capabilities
Connect your
operational
databases to Serra
via RESTful APIs.
Implement
configurable policies
for information
exchange.
Track and manage
transaction
information with
tokens — globally
unique identifiers.
Operational
database
Operational
database
PlatformPlatform
Information
Distributed
ledger
Distributed
ledger
Sending
bank
Sending
bank
Consensus
Value

 Website: www.ey.com/sg/fintechhub
Email: fintech@sg.ey.com
Sahil Gupta
EY ASEAN FinTech Manager
sahil.gupta@sg.ey.com

2.
EY | Assurance | Tax | Transactions | Advisory
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