FinAMLOR
Anti-Money Laundering Solution
An end-to-end Anti-Money Laundering (AML) solution that enables you to apply risk based approach to monitoring customer behavior for suspected criminal financial activities via automated processes. In addition, the solution supports industry best practices for monitoring and reviewing, giving you a reliable way to protect your business reputation. Armed with comprehensive reporting and query capabilities as per regulatory requirements, FinAMLOR also stores compliance rules and flags any violation of these rules for follow-up
FinAMLOR is designed to help Banks effectively conduct due diligence and comply with government regulations. It gives a powerful combination of anti fraud, anti money laundering and business intelligence utilities. The solution offers robust analytics in the Know Your Customer and Transaction Analysis segments.
Features
Know Your Customer (KYC)
- Customer Due Diligence: Ability to capture all mandatory customer and related information
- Jurisdictions: Ability to capture citizenship and residence information for individuals as well as domicile and market-related information for organizations
- Identification: Support for user-defined identification requirements based on the individual or organizations
- Verification: Support for a range of verification options for individuals and organizations
- Risk Scoring and Classification: User-configurable AML risk scoring and risk classification including facility to allot weightings
Know Your Transactions (KYT)
- Transaction Monitoring: The Compliance Desk combines rule-based monitoring methods as per government regulations with user profiling techniques in order to detect suspicious activity and potential money laundering across customers, products, accounts and transactions
- Case Management: Four simple steps to administer alerts (Detect, Investigate, Manage and Report)
AML: Functional Architecture
AML: Workflow
- Helps meet regulatory requirements
- Improves risk protection
- Streamlines compliance operations
- Better detection by behavioral profiling and rules management
- User-friendly system reduces manpower costs
- Improved efficiency and faster processing of cases
