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Fulton Financial Keeps Risk in Check
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions
- Business Operation
- Human Resources
Use Cases
- Fraud Detection
- Regulatory Compliance Monitoring
Services
- Software Design & Engineering Services
- System Integration
The Challenge
Fulton Financial Corporation, a part of the highly-regulated banking industry, had been using an internal system to meet federal requirements and identify potential risks early. However, this system did not instill confidence among employees, had limited functionality, and was difficult to staff. The company wanted to take a more proactive approach to risk, especially in the current economy where financial organizations are under increased pressure. They needed a new reporting system that would boost employee confidence and help mitigate risk.
About The Customer
Fulton Financial Corporation is a $16.9 billion financial holding company based in Lancaster, Pennsylvania. The company provides a wide range of financial products and personalized services in Pennsylvania, Maryland, Delaware, Virginia, and New Jersey. Fulton is comprised of several different banking subsidiaries, and offers comprehensive products and services provided by talented employees who care about each and every relationship. The company has over 3,500 employees.
The Solution
Fulton Financial Corporation selected EthicsPoint to provide employees with a safe, anonymous way to report any suspected fraud or misconduct. The company worked with NAVEX Global’s Implementation team to configure its EthicsPoint system. The system was modified to ensure clarity and ease of use. EthicsPoint allows Fulton to sort data into categories, analyze trends at each of its subsidiaries, and notify three departments automatically when a report is submitted: Legal, Human Resources, and Internal Audit. This setup helps keep everybody accountable with a system of checks and balances.
Operational Impact
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