AML

Business Challenge

Money laundering activities are getting more sophisticated every year, making them more difficult to prevent and monitor. With the enhanced monitoring and the need for fast, accurate and timely reporting of such transactions, as well as their timely prevention, the need of introducing and actively using the software systems to prevent money laundering, or AML (Anti-Money Laundering) systems, is obvious.

How to achieve 100% compliance with minimum effort and complications?

Anti-Money Laundering can easily be integrated into daily systems or routines of any institution if it provides the following:

High precision with a low level of false positives
Compliance without complications in usage
Automated processes for a decreased workload

The ASEE AML solution uses sophisticated pattern recognition techniques to identify suspicious behavior and possible money laundering activities. The solution analyzes the behavior of internal customers, counterparties, and external parties through every transaction across the enterprise.

Comprehensive scenario coverage - Leverages an extensive library of behavior scenarios that provides comprehensive coverage of indicative money laundering behaviors
Advanced alert generation and workflow - Uses patented analysis techniques to detect key behaviors of interest, such as relationships between accounts that are not obvious to rules, profile-based applications, or manual analysis. Comprehensive alerts provide a context of business data and historical information to streamline analysis and resolution.
Customized thresholds and risk scoring - Delivers a risk-based approach, shortens investigation times, and manages risk by customizing risk and trust scoring for individuals or entities. AML System identifies and addresses unusual behavior compared with predefined expected behavior.
Enterprise wide compliance - Supports all business units across geographies, ensuring a common level of compliance throughout the organization and leveraging compliance investment.
Customized rules for @STOP&GO of transactions – User-friendly approach, in which the customer is able to create different rules for stop and go of the transactions;

KYC Included!

Client identity verification and assessment
Mitigating risks of potentially illegal intentions and activities
Anti-bribery compliance

Functionality

Functional Characteristics

The solution is designed to operate independently of the existing Core Banking system, and does not depend on its structure. Integration with the existing Core Banking system is done through implementation of appropriate interfaces, and there is possibility for interoperability with any banking system.

ASEE AML System feature and functional characteristics are:

Integrated solution for Detection & Prevention of Money Laundering;
Effectively assisting banks to comply with AML regulations in different countries and international standards;
Monitoring of all customers, accounts and transactions data and delivering accurate, prioritized alerts directly to desktop application in real time;
Generating specific reports imposed by local regulatory authorities and reports based on defined suspicious activity criteria;
Robust analytics for Clients and Transactions;
Determining the Client and Transaction Risk Score;
Management of customer Peer Groups;
Analysis of relationships among different transactions;
Visual data presentation and risk profiling of customers
Sanction lists management (blacklists, white lists, PEP lists, internal sanction lists, etc.);
Document management system – archiving of exchanged files, possibility for their re-generation and the ability to search through their content;
Multi-language support.

Advantages

Real-Time and Near Real-Time actions
Automated monitoring of customers’ behavior and transactions with reports
Visual data presentation and risk profiling of customers
Minimized necessity of technical personnel for configuring the AML system
Available as an on-premise or cloud solution
Automatic PEP list import
Separate reporting service
Notification alerts via push, email or SMS messages

Technology Framework

Windows-Server 2016
SQL Server 2016
SQL Server Integration Services
Internet Information Services
.Net Framework 4.5

Brochure

To learn more about ASEE AML, please download the brochure.

Contact

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