Situation
Implementing SafeWatch AML
ZB Financial Holdings, a leading financial services provider in Zimbabwe, offers a comprehensive portfolio of banking, insurance, and investment solutions.
As part of its commitment to strengthening its Anti-Money Laundering (AML) framework and aligning with both local regulatory requirements and international standards, ZB Financial Holdings implemented Eastnets SafeWatch AML.
The initiative aimed to modernize transaction monitoring capabilities, enhance detection accuracy, and establish a scalable and centralized compliance environment capable of supporting the organization’s growing transaction volumes and evolving regulatory obligations.
Task
Moving beyond manual monitoring
ZB Financial Holdings faced several operational and compliance challenges with its existing transaction monitoring processes:
1. Dependence on manual and semi-automated reviews, resulting in slower detection and investigation cycles
2. Fragmented data across multiple systems, limiting a unified view of customer activity
3. Difficulty in identifying complex and evolving suspicious transaction patterns
4. Limited flexibility in adapting to frequent regulatory updates
5. Gaps in customer profiling and risk classification impacting monitoring effectiveness
These challenges created the need for a more robust, automated, and risk-based monitoring approach.
Results
40% reduction in investigation time
Through near real-time monitoring and automated alerts.
50%
Decrease in manual efforts, reducing operational workload and manual error
Improved data quality
Through identification and remediation of customer profiling gaps
Products used
SafeWatch AML
Lawrence Hamudikindivona Compliance Manager, ZB Financial Holdings
