Transaction Monitoring to Supercharge AML Compliance
Transparency into the history of a transaction’s funds and users with the ability to receive notifications of suspicious transactions, is critical for regulatory compliance. It also allows you to follow internal policies and procedures while preventing criminals from using your institution to launder illicit funds.
Manual processes are expensive to maintain don’t provide enough information for accurate risk assessment and decision making. They consume time and resources that should be used for true escalations.
Acuant Compliance Transaction Monitoring is designed to provide Financial Institutions and Fintechs with the industry’s most insightful, accurate and efficient AML compliance results. Our platform features a unique user-centric, risk-based approach favored by regulators. Dynamic modeling, adaptive framework and contextual identity analysis supercharge your compliance efforts. We allow you to detect financial crime and fraud schemes across business lines with advanced analytics.
Risk-Based Approach Improves Productivity
Too many alerts hurt productivity. We allow you to risk rate alerts so you focus on the most critical ones. Apply more hurdles to potentially suspicious transaction users while showing trusted users the fast lane.
Dynamic Real Time Risk Assessment
Goes beyond initial KYC event, recognizing that a user’s risk profile changes over time. Captures additional and updated attributes, conducts additional analysis and ultimately updates customer risk profiles accordingly.
Contextual Analysis Provides Greater Accuracy
Assemble and analyze a digital identity from an individual’s attributes to provide a continual assessment, evaluate the risk of the identity’s country of origin, and consider situation and environment. Consolidate a broad range of attributes for more accurate risk assessments.
Customization Increases Efficiency
User-friendly, highly customizable and configurable platform, allows you to focus on areas of growth for your business success. Transaction rules. risk thresholds and alerts are easily configured. Streamlined case management allows analysts to accurately and efficiently review all information.
Fighting Fraud in New Payment Methods and Prepaid Cards
New Payment Methods (NPMs) and prepaid cards represent an important income stream for private businesses and the high adoption of smartphones have fueled growth in this market. However, this growth has also opened the door for staggering losses due to fraud. This Case Study will teach you how to spot red flags for new payment methods, the risk of limited solutions and how Acuant manages risk and improves operations.
HOW WE DO IT
Alerts: real time, filterable & optimized for analysts
Investigate Alerts: compares behaviors that generated alerts against similar users (unusual time period, unusual for the user, unusual based on policy)
Rules: set to trigger alerts when behavior changes
SAR & CTR Filings: comply with report filing rules, prefilled, filter transactions for reporting
Case & Queue Management: optimized for analysts, contains case info across different systems, creates multi-step review
Multi-Jurisdictional: connect policies to jurisdictions, file reports per jurisdiction, set SLAs per country
Payment Transaction Risk Scoring: ability to provide risk of transaction based on associated data
Reporting & Analytics: regulatory, operational, SLA, analyst reporting & more
Bitcoin Risk Assessment: see risk of virtual currency transactions & the risk of dealing with individuals & businesses that transact in virtual currencies
Why Acuant Compliance
Acuant Compliance has everything you need to meet regulations, manage fraud and fight financial crime. We make it easy with KYC, KYB, Sanctions Screening and Transaction Monitoring in a single platform. Automation technologies allow you to automatically approve or deny prospects, operational technologies make your compliance team more efficient and digital identity technologies help you understand the risk of a specific identity to react in real time. Fit your current systems and needs with our API access, modular approach and custom capabilities.