Introducing Hummingbird Automations: A New Way To Safely Automate Your Compliance Processes

Courtney Chuang

Head of Product Marketing

Today, we’re excited to launch Hummingbird Automations, a powerful new automation tool designed specifically to streamline and accelerate manual compliance processes. 

Introduction

At Hummingbird, we firmly believe automation is the future of compliance. Automation is poised to fundamentally transform the way that compliance work gets done, not only by taking on time-consuming tasks and freeing up investigators’ time but also – and more importantly – by making financial crime investigations more effective and impactful.

Until now, scaling a compliance program has always required scaling costs, whether in the form of time, headcount, or both. Compliance automation, as we see it, holds the key to finally breaking the chains holding the costs and output of a compliance team together.

Still, many compliance leaders approach automation with a degree of skepticism. And for good reason: plenty have experienced the excitement (and subsequent disappointment) of attempting to use general-purpose Robotic Process Automation (RPA) platforms for compliance. These platforms promised massive efficiency gains but, as compliance teams discovered, ultimately proved unable to deliver the control, transparency, and auditability that compliance work demands.

Process automation, purpose-built for compliance

Hummingbird Automations is our answer to the compliance industry’s need for a process automation platform that works – for them. Designed specifically for compliance work, our new automation platform gives your team a complete toolkit to effectively and safely automate AML, fraud, diligence, and other compliance processes.

With our intuitive, visual automation builder, you can quickly and easily create automation recipes tailored to your institution’s policies and procedures. Every step is accounted for, and the possibilities are nearly endless.

It wouldn’t be a process automation platform for compliance without complete control and visibility over your automations. Detailed usage dashboards and activity logs allow you to seamlessly monitor, adjust, and audit your automation recipes as needed.

A first-of-its-kind tool, Automations is the next big step forward in enabling compliance teams to focus on the work that matters – on the complex, strategic work that protects financial institutions from bad actors and advances the fight against financial crime.

 

See Hummingbird Automations in action.

Drive program efficiency with Hummingbird Automations

Hummingbird Automations empowers compliance teams to boost productivity, reduce risk, and lower program costs. Here’s how:

  • Eliminate tedious busywork: Automations allows compliance teams to clear away low-value tasks, such as copy-pasting case data and managing timelines and case assignments. By eliminating the manual and repetitive tasks that slow them down, investigators and compliance managers can stay focused on high-impact work.

  • Enforce controls and improve oversight: Automations safeguards organizations by eliminating the need for manual review and oversight, which is both tedious and error-prone. Automated controls, together with ongoing monitoring and reporting, ensure procedures are followed and management has complete visibility.

  • Scale operations without scaling costs: Scaling a compliance program can mean increasing costs – but it doesn't have to. With Automations, compliance teams can efficiently allocate resources and optimize program performance to keep costs low and quality high.

Hummingbird Automations has made a huge impact on my team and our work. We're now able to easily automate notifications and reporting, allowing us to increase oversight and streamline our workflow.
– Senior Financial Crimes Compliance Manager, Leading BNPL Provider

An intuitive, visual builder for time-saving automations

Hummingbird Automations is a visual automations builder. Our intuitive, no-code platform makes it easy to build, manage, and optimize automations to handle previously manual compliance processes – saving your organization both time and money.

Your institution’s compliance data, workflows, and policies are the main ingredients used to create time-saving automations. After flowing these ingredients into the Hummingbird platform, you can set straightforward if/then rules to determine when your automation should run and what actions you want the automation to take. It’s simple yet incredibly powerful.

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With Automations, you can take hundreds of tedious, time-consuming tasks off your plate – from administrative to-dos, like assigning cases, to complex processes, like sampling completed cases and regularly conducting quality reviews as part of your QA program.

Automations also comes with detailed activity logs for a complete audit trail. You can see exactly when an automation ran, what action it performed, and if it was successful or not. With Automations, you’re always audit-ready.

Automations for every part of your compliance program

The breadth of what’s possible to automate with Hummingbird Automations makes it an invaluable time-saving tool across all of your compliance processes and practice areas.

To help you get started, Automations offers numerous templates for common automation recipes that can be easily adapted to meet your needs. (More templates and support for new use cases are added every week!).

Here are just a few examples of what you can do with Automations:

Know Your Customer/Business (KYC/B)

Keep an eye on high-risk customers with support for ongoing and periodic monitoring. For example, you can automatically tag customers when key changes are made to their CRM profile or trigger enhanced due diligence (EDD) reviews on a predefined schedule.

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Quality Assurance

Streamline your quality assurance process and ensure investigators receive the feedback they need to consistently deliver accurate work and reduce re-opens. With Automations, you can easily sample recently completed cases and schedule recurring QA reviews.

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Case Preparation

It’s too often the case that investigators spend more time copy-pasting data than actually investigating. Automations accelerates casework by pre-populating cases with key data and findings – so investigators can focus their attention on analysis and decision-making.

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Case Assignment & Status Management

Ditch the tedious administrative tasks that take up compliance managers’ time. Managers can set up automation recipes to instantly create, assign, and update the status of cases.

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Case Notifications

Ensure nothing slips through the cracks with automated notifications that alert you when a case or filing needs your attention. For example, you can get notified about cases with approaching due dates or when a filing has been rejected by the FIU.

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Activity Digests

Improve oversight with a birds-eye view of new case activity in Hummingbird. Receive a weekly or monthly email digest of recently created and completed reviews and reviews with upcoming deadlines.

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See Hummingbird Automations in action

Hummingbird Automations is a game-changer. By eliminating manual, repetitive tasks, Automations is fundamentally transforming the nature of compliance work. Compliance teams – under constant pressure to do more with less – can now finally break free from 24/7 attention to manual processes and instead access the resource they need the most: time.

With low-value taskwork out of the way, investigators can finally spend their time actually investigating and compliance managers on completing high-impact, strategic work.

This is just the beginning for Hummingbird Automations. Over the coming months, we’ll be adding even more features to help you automate all of your critical compliance processes.

If you’d like to see how Automations can benefit your organization, book a demo today.

If you are a current customer and would like to learn more, log in and visit our help center


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