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AML Transaction Monitoring

Automatic monitoring and flagging of suspicious financial transactions.

Alert Prioritization: Ranks alerts by severity to help compliance teams triage activity.
Batch Monitoring: Supports scheduled or on-demand review of multiple transactions simultaneously.
Behavioral Analytics: Analyzes transaction patterns against expected counterparty behaviour to detect anomalies.
Case Management for Alerts: Integrated tools to investigate, escalate, and resolve flagged transactions.
Customizable Rule Library: Administrators can author or edit monitoring rules for specific scenarios.
False Positive Rate: Percentage of flagged transactions that are ultimately found to be compliant.
Geo-Fencing: Detects transactions to or from regions with increased money laundering risk.
Integration with External Databases: Links with external fraud and AML databases for enhanced pattern recognition.
Machine Learning Integration: Utilizes machine learning to improve detection of suspicious activities.
Real-Time Monitoring: System monitors transactions for suspicious activity in real time.
Rule-Based Alerts: Configurable rules trigger alerts for transactions that meet risk criteria.
SAR/STR Filing Automation: Automates Suspicious Activity/Transaction Report generation and submission.
Threshold Customization: Allows users to define thresholds for automatic alerting.
Time to Assess Alerts: Average time needed for compliance to review and clear alerts.
Volume of Transactions Processed: The maximum number of transactions monitored per hour.

Customer Onboarding

KYC/AML features streamlining onboarding of new corporate treasury counterparties.

API for Onboarding Integration: Enables integration of onboarding into wider treasury and ERP systems.
Audit Trail: Maintains a log of all onboarding activities and changes.
Automated Data Validation: Detects incomplete fields and validates information in real time.
Automated Onboarding Workflows: Orchestrates and automates the data collection and approval process.
Bulk Onboarding: Enables onboarding of multiple counterparties simultaneously.
Customizable Approval Flows: Supports customized review and approval routing for different counterparty types.
Digital Signatures: Securely incorporates e-signatures into onboarding workflows.
Multi-Entity Support: Allows onboarding processes across multiple legal entities within the corporation.
Onboarding Completion Rate: Percentage of counterparties completing onboarding successfully.
Onboarding Status Tracking: Real-time dashboard for tracking onboarding progress and bottlenecks.
Onboarding Time: Average time to complete onboarding using the system.
Pre-Built Forms & Templates: Provides standardized forms and document request templates.
Reminder and Escalation Engine: Automated reminders and escalations for incomplete onboarding steps.
Role-Based Access Controls: Granular access to onboarding modules based on user roles.
Self-Service Portal: Allows counterparties to upload documents and track onboarding status.

Data Security & Privacy

Ensuring security and compliance of all KYC/AML and client data.

Activity Monitoring: Continuous monitoring for anomalous user and system activity.
Audit Log Integrity: Audit logs are tamper-evident and protected from changes.
Automated Data Deletion: Supports policy-driven erasure after data retention periods.
Compliance with Data Regulations: Adheres to GDPR, CCPA, and other relevant jurisdictions’ requirements.
Data Backup Frequency: Automated backup schedule for all data assets.
Data Masking: Masks sensitive fields in interfaces and exports.
Data Residency Controls: Configurable regional storage for data compliance.
Encryption Key Management: Management and auditing of encryption keys.
End-to-End Encryption: Data is fully encrypted at rest and in transit.
Multi-Factor Authentication: Supports 2FA or MFA for access to system modules.
Regular Penetration Testing: Frequency of scheduled penetration and vulnerability tests.
Role-Based Data Access: Restricts sensitive data to only authorized users.
Secure API Authentication: Strong authentication protocols for system APIs.
Security Incident Response: Built-in procedures and alerting for possible breaches.
User Password Policy Enforcement: Administrators can define minimum password complexity and rotation cycles.

Enhanced Due Diligence

Capabilities to identify and perform additional checks for high-risk counterparties.

Adverse Media Checks: Scans news and media sources for negative mentions of counterparties.
Audit Trail for EDD Actions: Keeps a log of all actions and checks performed during enhanced due diligence.
Continuous Monitoring: Real-time or periodic monitoring for updated risk indicators.
Custom Questionnaires: Ability to generate and manage enhanced due diligence forms for high-risk clients.
Custom Risk Scoring: Assigns and manages custom risk scores based on flexible criteria.
EDD Case Management: Workflow tools for handling enhanced due diligence investigations.
Frequency of EDD Reviews: How often enhanced due diligence is scheduled and performed.
Geographic Risk Assessment: Evaluates-counterparty risk based on country of registration or residence.
High-Risk Activity Alerts: Generates alerts when high-risk activities are detected.
Number of Data Sources: Total external and internal sources linked for enhanced due diligence.
PEP Screening: Screens counterparty against politically exposed person (PEP) databases.
Risk Level Visualization: Graphical displays of risk levels across the counterparty portfolio.
Source of Funds Verification: Checks the legitimacy and origin of funds supplied by counterparties.
Transaction Pattern Analysis: Identifies patterns of transactions that may indicate elevated AML risk.
Ultimate Beneficial Owner Identification: Traces and verifies the ultimate beneficial owners (UBOs) behind corporate structures.

Identity Verification

Features ensuring robust verification of counterparty identity to fulfill KYC requirements.

Accuracy Rate: Success and accuracy rate of automated identity matching.
Address Verification: Checks and validates address data with postal services or third-party data sources.
Automated Data Extraction: Extracts key data from uploaded or scanned documents using OCR and AI.
Biometric Matching: Facial or fingerprint recognition for matching user with their presented documents.
Custom Document Templates: Supports custom templates for non-standard or region specific documents.
Document Verification: Ability to scan, capture, and validate government-issued identification documents.
Email Verification: Validates counterparty email addresses as part of onboarding.
Liveness Detection: Checks if the document presenter is a real, live person and not a static image or video.
Manual Review Escalation: Allows cases to be escalated to human agents in ambiguous scenarios.
Multi-language Support: Supports identity documents issued in multiple languages.
Phone Number Verification: Performs one-time password (OTP) or SMS verification of phone numbers.
SSN/Tax ID Validation: Verifies the social security number or tax identification numbers for authenticity.
Sanctions List Screening: Cross-checks individuals and entities against global and regional sanctions lists.
Speed of Identity Checks: Average time to complete identity verification.
Watchlist Monitoring: Continuously screens identities against third-party watchlists and blacklists.

Integration & Data Interoperability

How well the system shares and receives data with internal and external sources.

Automated Data Cleansing: Cleanse and de-duplicate data on import.
Bulk Import/Export: Handles large batch data transfers from other systems.
Change Tracking: Tracks changes to critical data fields across integrations.
Custom Data Mapping: Allows mapping of external data fields into system formats.
Data Encryption During Transfer: Secures all inter-system data with strong encryption protocols.
Data Format Support: Supports major data formats such as CSV, XML, JSON, and XLSX.
Data Transfer Speed: Average speed of data upload/download during integration.
Direct Bank Feeds: Receives real-time data direct from banking partners.
Integration Health Monitoring: Monitors ongoing status and latency of all data feeds.
Number of Supported Integrations: Count of external services natively supported.
Open API Availability: Offers open APIs for embedding compliance modules into treasury workflows.
Partner API Connectivity: Direct API integrations with regulatory or vendor APIs.
Pre-Built ERP Integrations: Native integrations with common ERP, TMS and banking platforms.
Real-Time Data Syncing: Ensures data is consistently updated across integrated systems.
Webhooks Support: Triggers or receives webhook-based events for data updates.

Regulatory Reporting & Audit

Automating creation of regulatory reports and fulfillment of audit requirements.

Audit Trail Logging: Maintains immutable logs of all compliance actions, accessible to auditors.
Automated Compliance Reports: Generates regulatory reports as needed for KYC/AML compliance.
Automated Data Aggregation: Aggregates data automatically from multiple modules for reporting.
Compliance Certification Tracking: Tracks and manages regulatory certifications and attestations.
Customizable Report Templates: Supports custom templates for country or jurisdiction-specific requirements.
Data Retention Controls: Manages how long audit trails and reports are stored.
Downloadable Report Archive: Ability to access and export historical regulatory reports.
Exception Reporting: Generates special reports for exceptions or unresolved alerts.
Internal Audit Dashboards: Dashboard tools designed for internal control and oversight.
Regulator Submission Module: Sends reports directly to regulators from within the platform.
Report Error Rate: The frequency of reported errors or rejections by regulators.
Report Scheduling: Allows scheduling of periodic compliance reports.
Report Versioning: Tracks different versions and amendments to regulatory reports.
Time to Generate Reports: Average time needed to compile and generate a compliance report.
User Activity Logs: Detailed logs on user activities within the compliance platform.

Reporting & Analytics

Tools and dashboards for analysis and performance tracking.

Ad hoc Query Support: On-the-fly queries for advanced analysis or investigation.
Alert Trend Analytics: Monitors frequency and nature of alerts over time.
Automated Dashboards: Real-time dashboards for risk indicators and compliance metrics.
Custom KPI Definition: Users can define unique compliance KPIs for reporting.
Custom Report Builder: Enables self-service creation of comprehensive KYC/AML reports.
Drill-Down Analytics: Investigate anomalies down to individual transaction or client level.
Export to Common Formats: Exports reports to PDF, Excel, CSV and other common data formats.
Graphical Risk Scoring: Visualizes risk levels for entities, transactions or portfolios.
Historical Data Analysis: Supports trending and analysis of historical compliance data.
Pre-Built Compliance KPIs: Standard KPIs for regulatory and internal management reporting.
Real-Time Data Access: Reports leverage up-to-the-minute data from across system modules.
Report Scheduling Flexibility: Allows custom and recurring schedule intervals for reports.
Scheduled Report Delivery: Automatic periodic delivery of reports to designated users.
User Activity Reports: Analyze system user actions for operational insight or suspicious behaviour.
Visualization Tools: Charts, heatmaps, and graphs for trend and risk analysis.

Sanctions & Watchlist Screening

Constant screening of counterparties and transactions against global sanctions and regulatory lists.

Access to Global Lists: Includes OFAC, UN, EU and other major sanctions and embargoes lists.
Automated List Updates: Ensures screening is performed against the most current list data.
Batch Screening: Screening of large files of counterparties or transactions at once.
Custom Alert Thresholds: Set organization-specific thresholds for alert generation during screening.
Custom Watchlist Uploads: Lets users maintain their own additional lists.
Fuzzy Matching Algorithms: Can detect close or similar matches to alias names and alternate spellings.
Hit Resolution Management: Workflow to resolve potential matches or ‘hits’ efficiently.
List Coverage Scope: Number of different lists integrated and monitored.
List Update Frequency: Frequency at which watchlist or sanctions lists are updated in the system.
Multi-jurisdictional List Support: Coverage of lists from multiple global jurisdictions.
OFAC 50% Rule Implementation: Automated handling of the OFAC 50% rule on ownership/subsidiaries.
Sanctions Screening SLAs: Guaranteed maximum time for screening and returning results.
Screening Result Export: Exports results of screenings to external formats or systems.
Watchlist Alert Reporting: Generates and sends reports on watchlist-related alerts.
Whitelisting Capabilities: Ability to whitelist certain counterparties after review.

User Experience & Accessibility

Design, navigation and accessibility for operational efficiency.

Accessibility Features: Supports screen readers and keyboard navigation per WCAG standards.
Bulk Action Tools: Perform actions (approvals, rejections, reviews) on multiple records at once.
Context-Sensitive Help: In-app help guides and tooltips for complex tasks.
Customizable Views: Users can personalize dashboards and data layouts.
Fast Load Time: Average system dashboard and page load speed.
Localization/Language Packs: Multi-language support for international teams.
Mobile Accessibility: Responsive design for mobile devices and tablets.
Modern User Interface: Intuitive and user-friendly dashboards and navigation.
Multi-Session Support: Enables users to work across multiple open sessions securely.
Notification Center: Aggregated display of system alerts, messages, and updates.
Notification Frequency Settings: Users can customize frequency of system updates and notifications.
Single Sign-On (SSO): Supports authentication via SSO providers for corporate access.
Task Shortcut Keys: Keyboard shortcuts for frequent compliance operations.
Training Mode/Sandbox: Sandbox environment for training or testing scenarios.
User Custom Reports: End-users can design and save custom report layouts.

Workflow & Case Management

Tracking, escalation, and management of compliance reviews or investigations.

Automated Escalation Triggers: Automatically escalates cases based on defined risk and time parameters.
Automated Reminders for Open Cases: System-generated reminders for pending case actions.
Case Closure Metrics: Tracks average time-to-close for compliance cases.
Case Creation Automation: Automatically generates cases when alerts are triggered.
Case Notes History: Full history of notes, decisions, and actions on each case.
Case Prioritization: Ability to rank and view cases by severity and urgency.
Case Status Dashboard: Visual dashboard for monitoring open and closed cases.
Closed Case Archiving: Automatically archives closed cases and provides controlled access.
Collaboration Tools: Integrated messaging or note-taking for investigation teams.
Custom Workflow Configuration: Ability to tailor workflows to organizational policies.
Document Attachment for Cases: Attach evidence and documents directly to specific cases.
Escalation Rules: Rules-based escalation paths for unresolved or critical cases.
Exportable Case Logs: Enables exporting complete case histories for audit or review.
Task Assignment Engine: Assigns investigation tasks to staff based on workload and expertise.
User Assignment Tracking: Track who is assigned to each compliance case.

KYC/AML Compliance Systems features explained

for Treasury Compliance