SMART-AML is an anti-money laundering system that provides a complete end-to-end AML solution integrated with banking platforms. It allows for real-time payment screening, transaction monitoring, client screening, and compliance with national and international AML regulations. The system implements a risk-based approach using flexible rules and risk scoring models. It provides tools for customer due diligence, intelligent account and transaction monitoring, alert management, and compliance with KYC regulations. The system is built on J2EE technology and easily integrates with other systems.
The New York State Department of Financial Services (DFS) has proposed new regulations that would significantly expand anti-money laundering (AML) requirements for financial institutions operating in New York. The proposed regulations introduce more stringent transaction monitoring and watch list filtering program requirements, including risk assessments, testing, documentation, ongoing analysis, and training. Institutions would need to designate a certifying senior officer responsible for annual certifications affirming compliance. False certifications could result in criminal penalties for officers. The new rules are intended to address perceived shortcomings in institutions' current AML programs and impose heightened oversight, accountability and effectiveness.
Nelito's FinCraft offers State-Of-The-Art Anti-Money Laundering and Anti-Fraud solution with real time monitoring and surveillance of operations to protect your assets.
FinCraft – AML covers a broad range of asset classes & transaction types by monitoring current transactional data, non-transactional or know your customer (KYC) data and historical data for suspicious trading patterns. Our extensive library of analytical foundation & detection models helps organization to be compliant with anti-money laundering (AML) regulations.
Features
1) Integration with Master tables/Reference Data
2) Sophisticated Scoring mechanism based on KYC, historical patterns, etc.
3) Integrated learning mechanism for refined alerts
4) Case Management and Multi Source Data
5) Inbuilt ‘Foundation Models’ for entity risk profiling
‘6) Scrutiny Models’ for suspicious / Unusual activity identification
7) Daily, Weekly, Monthly, Adhoc compliance Alerts
8) Visual link representation among multi-entity transactions
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
Business Intelligence For Anti-Money LaunderingKartik Mehta
The document discusses anti-money laundering compliance software implementation following the 2001 enactment of the USA PATRIOT Act. Key points include:
- The Patriot Act delegated responsibility to FinCEN to set requirements for financial institutions to establish anti-money laundering compliance programs.
- Section 352(a) of the Patriot Act amended the Bank Secrecy Act to require financial institutions to establish anti-money laundering programs, including internal policies, a compliance officer, ongoing training, and independent audits.
- The objectives are to help businesses implement Patriot Act directives regarding information sharing about clients with suspicious activity and investigating client accounts and transactions for money laundering or terrorist funding possibilities.
Webinar: Strategies to Enhance your Screening and Transaction Monitoring Proc...Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/strategies-to-enhance-your-screening-and-transaction-monitoring-processes/
Transaction monitoring and sanctions screening are crucial processes for both traditional and non-traditional financial institutions. With changing regulations coupled with increased regulatory scrutiny being the new normal, having a streamlined and flexible approach has become more important for AML Compliance teams looking to improve cost savings and resource allocation.
In this webinar, our presenters from ICICI Bank and Transfast join CaseWare RCM to discuss
• How to assess and factor risk criteria such as regulatory, country, customer and services risks;
• Data elements to consider when determining lists selection and customer and/or transactions attributes
• Policies and procedures to determine monitoring and screening type and frequency as well as management of high risk situations
• Strategies for increasing detection of real reportable activities and reducing false positives and time for investigations
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
This document contains a directory listing organizations related to pancreatic cancer organized by country. It includes the organization's name, website, contact information, and a brief 1-2 sentence description of its mission. Countries represented include Argentina, Australia, Austria, Belgium, Brazil, Canada, Cyprus, Denmark, Europe, France, Germany, Greece, Hungary, Italy, Japan, and more. The directory provides an overview of the pancreatic cancer advocacy landscape internationally.
The document describes Thesis.net Property Management, a software for comprehensive property portfolio management. It allows users to obtain and analyze information on properties, monitor contracts and finances, track permits and documents, and generate business intelligence reports. The software integrates contact management, calendar functions and automatic alerts. It also connects to other databases and systems for exchanging property information.
The New York State Department of Financial Services (DFS) has proposed new regulations that would significantly expand anti-money laundering (AML) requirements for financial institutions operating in New York. The proposed regulations introduce more stringent transaction monitoring and watch list filtering program requirements, including risk assessments, testing, documentation, ongoing analysis, and training. Institutions would need to designate a certifying senior officer responsible for annual certifications affirming compliance. False certifications could result in criminal penalties for officers. The new rules are intended to address perceived shortcomings in institutions' current AML programs and impose heightened oversight, accountability and effectiveness.
Nelito's FinCraft offers State-Of-The-Art Anti-Money Laundering and Anti-Fraud solution with real time monitoring and surveillance of operations to protect your assets.
FinCraft – AML covers a broad range of asset classes & transaction types by monitoring current transactional data, non-transactional or know your customer (KYC) data and historical data for suspicious trading patterns. Our extensive library of analytical foundation & detection models helps organization to be compliant with anti-money laundering (AML) regulations.
Features
1) Integration with Master tables/Reference Data
2) Sophisticated Scoring mechanism based on KYC, historical patterns, etc.
3) Integrated learning mechanism for refined alerts
4) Case Management and Multi Source Data
5) Inbuilt ‘Foundation Models’ for entity risk profiling
‘6) Scrutiny Models’ for suspicious / Unusual activity identification
7) Daily, Weekly, Monthly, Adhoc compliance Alerts
8) Visual link representation among multi-entity transactions
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
Business Intelligence For Anti-Money LaunderingKartik Mehta
The document discusses anti-money laundering compliance software implementation following the 2001 enactment of the USA PATRIOT Act. Key points include:
- The Patriot Act delegated responsibility to FinCEN to set requirements for financial institutions to establish anti-money laundering compliance programs.
- Section 352(a) of the Patriot Act amended the Bank Secrecy Act to require financial institutions to establish anti-money laundering programs, including internal policies, a compliance officer, ongoing training, and independent audits.
- The objectives are to help businesses implement Patriot Act directives regarding information sharing about clients with suspicious activity and investigating client accounts and transactions for money laundering or terrorist funding possibilities.
Webinar: Strategies to Enhance your Screening and Transaction Monitoring Proc...Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/strategies-to-enhance-your-screening-and-transaction-monitoring-processes/
Transaction monitoring and sanctions screening are crucial processes for both traditional and non-traditional financial institutions. With changing regulations coupled with increased regulatory scrutiny being the new normal, having a streamlined and flexible approach has become more important for AML Compliance teams looking to improve cost savings and resource allocation.
In this webinar, our presenters from ICICI Bank and Transfast join CaseWare RCM to discuss
• How to assess and factor risk criteria such as regulatory, country, customer and services risks;
• Data elements to consider when determining lists selection and customer and/or transactions attributes
• Policies and procedures to determine monitoring and screening type and frequency as well as management of high risk situations
• Strategies for increasing detection of real reportable activities and reducing false positives and time for investigations
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
This document contains a directory listing organizations related to pancreatic cancer organized by country. It includes the organization's name, website, contact information, and a brief 1-2 sentence description of its mission. Countries represented include Argentina, Australia, Austria, Belgium, Brazil, Canada, Cyprus, Denmark, Europe, France, Germany, Greece, Hungary, Italy, Japan, and more. The directory provides an overview of the pancreatic cancer advocacy landscape internationally.
The document describes Thesis.net Property Management, a software for comprehensive property portfolio management. It allows users to obtain and analyze information on properties, monitor contracts and finances, track permits and documents, and generate business intelligence reports. The software integrates contact management, calendar functions and automatic alerts. It also connects to other databases and systems for exchanging property information.
Fiserv provides financial institutions with compliance and fraud management solutions to help address complex and evolving challenges. Their solutions utilize a single, strategic platform with advanced integrated capabilities to more accurately detect risks across customers, transactions, locations and business units. This allows institutions to take a holistic view of financial crimes while achieving greater efficiency and lower costs compared to separate legacy systems. The platform features real-time detection, investigation tools, case management, and regulatory reporting capabilities. Fiserv's solutions are designed to flexibly address a variety of financial crime risks and regulatory requirements.
This document describes Xpert AML, an integrated anti-money laundering compliance system that manages all aspects of the anti-money laundering cycle from customer onboarding to reporting. It allows users to capture customer information, conduct identity verification and due diligence, monitor transactions against watchlists, and comply with FATCA requirements. The system includes modules for customer onboarding, KYC/CDD, case management, risk scoring, alert management, reporting and analytics to automate AML processes and detect suspicious activity.
Technology plays both a facilitating and mitigating role in money laundering risks. On one hand, technology enables new methods of money laundering like through electronic currencies and online banking. On the other hand, financial institutions rely on technology like transaction monitoring software to comply with anti-money laundering regulations and identify suspicious transactions. However, software alone is not a complete solution and well-trained staff are still needed to analyze transactions. New technologies also pose challenges as money laundering risks can change, and rules trying to define what constitutes suspicious activity can sometimes be abstract.
Catalyst is an automated compliance solution with several interconnected modules that work together. It provides real-time monitoring of client and transaction data to identify risks and alert users so they can take appropriate actions. All data, alerts, and resulting actions are maintained for auditing purposes. The modules include tools for know-your-customer compliance, risk rating clients and transactions, reviewing trade suitability, monitoring for potential money laundering, and customizing rules for risk identification.
The document discusses the role of business intelligence in implementing anti-money laundering compliance software according to regulations introduced by the 2001 USA PATRIOT Act. It outlines requirements for financial institutions to establish anti-money laundering programs, conduct customer due diligence and file suspicious activity reports. The objectives are to help banks integrate data across divisions to identify suspicious transactions and comply with directives to prevent money laundering and terrorist financing.
Respondents to a PwC survey addressed increased regulatory expectations around anti-money laundering (AML) by providing more staff training (44%), hiring more staff (40%), improving communication (37%), and restructuring/increasing governance (33%). FINTRAC reported the top destinations for suspicious electronic funds transfers related to money laundering involved fraud were the United States, United Kingdom, and Iran. As U.S. federal fines for casinos have increased, so too have the number of suspicious activity reports filed by casinos on money laundering.
The document summarizes Ocean Systems' Enhanced Compliance Solution (ECS) software, which uses various modules like customer profiles, transaction monitoring, alerts, and know-your-customer information to analyze banking activity, identify potential fraud and money laundering, and help financial institutions comply with regulations like the Patriot Act.
Temaswiss' Integrated Key Risk Controls (IKRC) best-practice design for Commercial Banking KYC and AML Transactions Monitoring.
- Commoditised Consulting & FSI Advisory packages.
- Tailored to your data & process realities.
- Budget- & Time-bound.
The document discusses Lombard Risk's regulatory compliance solution. It automates regulatory reporting for financial institutions to reduce costs and risks. The solution extracts data from multiple sources, standardizes it, performs calculations, validates reports, and submits them electronically. It supports global regulations while providing a single data repository for regulatory and internal reporting.
This document discusses the Reporter MIS module from Lombard Risk, a reporting solution for regulatory compliance and business intelligence. It can combine risk and regulatory information from internal and external sources into customizable reports and dashboards. This provides valuable insights and enables confident business decisions. The solution aims to replace difficult and time-consuming reporting processes using spreadsheets by automating routine report generation and distributing reports via web-based dashboards. This allows users to obtain dependable analysis in real-time for competitive advantage and regulatory compliance.
The document discusses Lombard Risk, a company that provides an automated solution for financial institutions to meet increasing regulatory compliance requirements. Their single platform solution calculates regulatory reports, reconciles data from multiple sources, and creates a centralized data repository. This eliminates manual work and reduces costs and risks compared to using spreadsheets or separate systems. Lombard Risk's solution is used globally by hundreds of clients and helps ensure accurate and transparent reporting while increasing efficiency.
Fair Isaac is a leader in fraud detection and decision management solutions. Their Falcon Fraud Manager uses advanced analytics like neural networks and profiling to detect fraud across multiple channels. It has helped reduce credit card fraud losses significantly. The document discusses how debit fraud is evolving and Falcon Fraud Manager's capabilities for protecting debit transactions through profiling of cardholders, devices, and merchants.
Treliant_IndustryAdvisory NY DFS Final Regulation_September2016Steven Reback
The New York State Department of Financial Services has issued a final regulation requiring financial institutions regulated in New York to implement enhanced transaction monitoring and watch list filtering programs to comply with anti-money laundering and counter-terrorist financing regulations. The regulation specifies requirements for these programs, including risk assessments, testing, documentation, ongoing analysis, and annual certification of compliance by boards of directors or senior officers. It aims to close gaps identified in some institutions' existing programs and applies to banks, trust companies, money transmitters, and other financial institutions operating in New York.
Top industry use cases for streaming analyticsIBM Analytics
Organizations need to get high value from streaming data to gain new clients and capitalize on market opportunities. Discover how IBM Streams is best suited for use cases that has the need for high speed and low latency.
MLM Platform for Financial (Services Simplifies Industry's ComplexityEpixel MLM Software
The financial services sector is characterized by intense competition. It has had numerous highs and lows brought on by shifts in the market and the economy. In addition to market saturation, decreased consultant productivity, as well as other internal and external variables, add to the industry's complexity. Selecting the ideal multilevel marketing platform for financial services has aided numerous businesses in navigating the obstacles to success.
The majority of MLM platforms may be tailored to each business's specific needs. To reduce process complexity, however, important and frequently needed needs like commission management, data security, and regulatory compliance are automated. Automation of these procedures not only reduces complexity but also makes it easier for business administrators to oversee the company with fewer mistakes and downtime. To make sure that the company remains compliant with the law and regulations, these platforms are updated frequently with new compliance guidelines.
Financial services can benefit from the incorporation of emerging technologies like blockchain, artificial intelligence, and other fintech advances, which can easily integrate with existing systems and turn them into highly productive ones. This is made possible by MLM platforms. Organizational data security and privacy are always protected using an end-to-end encryption framework. A company that has a well-established security infrastructure also enjoys the trust and satisfaction of its customers.
TreasuryVision is Citigroup's treasury information portal product that provides corporations visibility and control over their global cash positions and transactions. It aggregates data from multiple bank accounts and sources into a single dashboard view. Key benefits include improved cash forecasting accuracy, risk management and compliance. The system's modules allow monitoring of cash, investments, debt and flows. It provides a more integrated alternative to separate ERP/TMS solutions, especially for multinationals with global operations.
This document discusses fraud management systems in telecommunications and describes a specific fraud management system called Centaur. It begins by introducing common types of telecom fraud like call selling, premium rate service fraud, surfing, and ghosting. It then provides an overview of generic fraud management system architectures and components like data collection, processing, detection, investigation, and reporting. The document focuses on describing Centaur, a new flexible fraud management system, including its context-based detection approach using lists, multipliers, and time windows. Detection methods in Centaur include rule-based processes, neural networks, and identifying new instances of known fraudster profiles. An example of using Centaur to detect a call selling operation is also provided.
1) Accelus World-Check One combines World-Check risk intelligence data with automated screening software to simplify and accelerate customer due diligence processes like screening for money laundering and sanctions.
2) It leverages proprietary World-Check data on politically exposed persons and other high-risk individuals to identify hidden risks through multiple identifiers and additional data fields.
3) The software is designed to reduce the burden of daily customer screening through customizable searches, reduced false positives, and improved workflow efficiency.
Alignia for Business Security is designed to simplify the tasks of analysts from the Information Security department; it offers a comprehensive model of prevention and control of the information security and privacy. It provides the needed tools to protect, detect, record and alert on threats and incidents, improving the processes control, the compliance with audits and other regulations, and reducing levels of risk.
Alignia for Business Security is designed to simplify the tasks of analysts from the Information Security department; it offers a comprehensive model of prevention and control of the information security and privacy. It provides the needed tools to protect, detect, record and alert on threats and incidents, improving the processes control, the compliance with audits and other regulations, and reducing levels of risk.
The document discusses Panacea, a cloud-based solution that provides patients access to entertainment, education, communication and clinical information at their bedside via terminals. It allows hospital staff to access applications that improve workflows. Some benefits highlighted include improved patient experience and satisfaction, enhanced staff productivity, streamlined clinical access and increased revenue potential for hospitals.
The CIISTM solution from CubeIQ allows for on-demand printing and personalization of Visa and Mastercard compliant cards along with PIN selection in under 60 seconds. The system includes card personalization machines and CIIATM software which can be used in remote bank branches and merchant locations for instant issuance of debit, credit, and ATM cards. CIIATM offers advantages like on-site PIN selection, integration with existing banking systems, and cost savings over traditional card issuance processes.
Fiserv provides financial institutions with compliance and fraud management solutions to help address complex and evolving challenges. Their solutions utilize a single, strategic platform with advanced integrated capabilities to more accurately detect risks across customers, transactions, locations and business units. This allows institutions to take a holistic view of financial crimes while achieving greater efficiency and lower costs compared to separate legacy systems. The platform features real-time detection, investigation tools, case management, and regulatory reporting capabilities. Fiserv's solutions are designed to flexibly address a variety of financial crime risks and regulatory requirements.
This document describes Xpert AML, an integrated anti-money laundering compliance system that manages all aspects of the anti-money laundering cycle from customer onboarding to reporting. It allows users to capture customer information, conduct identity verification and due diligence, monitor transactions against watchlists, and comply with FATCA requirements. The system includes modules for customer onboarding, KYC/CDD, case management, risk scoring, alert management, reporting and analytics to automate AML processes and detect suspicious activity.
Technology plays both a facilitating and mitigating role in money laundering risks. On one hand, technology enables new methods of money laundering like through electronic currencies and online banking. On the other hand, financial institutions rely on technology like transaction monitoring software to comply with anti-money laundering regulations and identify suspicious transactions. However, software alone is not a complete solution and well-trained staff are still needed to analyze transactions. New technologies also pose challenges as money laundering risks can change, and rules trying to define what constitutes suspicious activity can sometimes be abstract.
Catalyst is an automated compliance solution with several interconnected modules that work together. It provides real-time monitoring of client and transaction data to identify risks and alert users so they can take appropriate actions. All data, alerts, and resulting actions are maintained for auditing purposes. The modules include tools for know-your-customer compliance, risk rating clients and transactions, reviewing trade suitability, monitoring for potential money laundering, and customizing rules for risk identification.
The document discusses the role of business intelligence in implementing anti-money laundering compliance software according to regulations introduced by the 2001 USA PATRIOT Act. It outlines requirements for financial institutions to establish anti-money laundering programs, conduct customer due diligence and file suspicious activity reports. The objectives are to help banks integrate data across divisions to identify suspicious transactions and comply with directives to prevent money laundering and terrorist financing.
Respondents to a PwC survey addressed increased regulatory expectations around anti-money laundering (AML) by providing more staff training (44%), hiring more staff (40%), improving communication (37%), and restructuring/increasing governance (33%). FINTRAC reported the top destinations for suspicious electronic funds transfers related to money laundering involved fraud were the United States, United Kingdom, and Iran. As U.S. federal fines for casinos have increased, so too have the number of suspicious activity reports filed by casinos on money laundering.
The document summarizes Ocean Systems' Enhanced Compliance Solution (ECS) software, which uses various modules like customer profiles, transaction monitoring, alerts, and know-your-customer information to analyze banking activity, identify potential fraud and money laundering, and help financial institutions comply with regulations like the Patriot Act.
Temaswiss' Integrated Key Risk Controls (IKRC) best-practice design for Commercial Banking KYC and AML Transactions Monitoring.
- Commoditised Consulting & FSI Advisory packages.
- Tailored to your data & process realities.
- Budget- & Time-bound.
The document discusses Lombard Risk's regulatory compliance solution. It automates regulatory reporting for financial institutions to reduce costs and risks. The solution extracts data from multiple sources, standardizes it, performs calculations, validates reports, and submits them electronically. It supports global regulations while providing a single data repository for regulatory and internal reporting.
This document discusses the Reporter MIS module from Lombard Risk, a reporting solution for regulatory compliance and business intelligence. It can combine risk and regulatory information from internal and external sources into customizable reports and dashboards. This provides valuable insights and enables confident business decisions. The solution aims to replace difficult and time-consuming reporting processes using spreadsheets by automating routine report generation and distributing reports via web-based dashboards. This allows users to obtain dependable analysis in real-time for competitive advantage and regulatory compliance.
The document discusses Lombard Risk, a company that provides an automated solution for financial institutions to meet increasing regulatory compliance requirements. Their single platform solution calculates regulatory reports, reconciles data from multiple sources, and creates a centralized data repository. This eliminates manual work and reduces costs and risks compared to using spreadsheets or separate systems. Lombard Risk's solution is used globally by hundreds of clients and helps ensure accurate and transparent reporting while increasing efficiency.
Fair Isaac is a leader in fraud detection and decision management solutions. Their Falcon Fraud Manager uses advanced analytics like neural networks and profiling to detect fraud across multiple channels. It has helped reduce credit card fraud losses significantly. The document discusses how debit fraud is evolving and Falcon Fraud Manager's capabilities for protecting debit transactions through profiling of cardholders, devices, and merchants.
Treliant_IndustryAdvisory NY DFS Final Regulation_September2016Steven Reback
The New York State Department of Financial Services has issued a final regulation requiring financial institutions regulated in New York to implement enhanced transaction monitoring and watch list filtering programs to comply with anti-money laundering and counter-terrorist financing regulations. The regulation specifies requirements for these programs, including risk assessments, testing, documentation, ongoing analysis, and annual certification of compliance by boards of directors or senior officers. It aims to close gaps identified in some institutions' existing programs and applies to banks, trust companies, money transmitters, and other financial institutions operating in New York.
Top industry use cases for streaming analyticsIBM Analytics
Organizations need to get high value from streaming data to gain new clients and capitalize on market opportunities. Discover how IBM Streams is best suited for use cases that has the need for high speed and low latency.
MLM Platform for Financial (Services Simplifies Industry's ComplexityEpixel MLM Software
The financial services sector is characterized by intense competition. It has had numerous highs and lows brought on by shifts in the market and the economy. In addition to market saturation, decreased consultant productivity, as well as other internal and external variables, add to the industry's complexity. Selecting the ideal multilevel marketing platform for financial services has aided numerous businesses in navigating the obstacles to success.
The majority of MLM platforms may be tailored to each business's specific needs. To reduce process complexity, however, important and frequently needed needs like commission management, data security, and regulatory compliance are automated. Automation of these procedures not only reduces complexity but also makes it easier for business administrators to oversee the company with fewer mistakes and downtime. To make sure that the company remains compliant with the law and regulations, these platforms are updated frequently with new compliance guidelines.
Financial services can benefit from the incorporation of emerging technologies like blockchain, artificial intelligence, and other fintech advances, which can easily integrate with existing systems and turn them into highly productive ones. This is made possible by MLM platforms. Organizational data security and privacy are always protected using an end-to-end encryption framework. A company that has a well-established security infrastructure also enjoys the trust and satisfaction of its customers.
TreasuryVision is Citigroup's treasury information portal product that provides corporations visibility and control over their global cash positions and transactions. It aggregates data from multiple bank accounts and sources into a single dashboard view. Key benefits include improved cash forecasting accuracy, risk management and compliance. The system's modules allow monitoring of cash, investments, debt and flows. It provides a more integrated alternative to separate ERP/TMS solutions, especially for multinationals with global operations.
This document discusses fraud management systems in telecommunications and describes a specific fraud management system called Centaur. It begins by introducing common types of telecom fraud like call selling, premium rate service fraud, surfing, and ghosting. It then provides an overview of generic fraud management system architectures and components like data collection, processing, detection, investigation, and reporting. The document focuses on describing Centaur, a new flexible fraud management system, including its context-based detection approach using lists, multipliers, and time windows. Detection methods in Centaur include rule-based processes, neural networks, and identifying new instances of known fraudster profiles. An example of using Centaur to detect a call selling operation is also provided.
1) Accelus World-Check One combines World-Check risk intelligence data with automated screening software to simplify and accelerate customer due diligence processes like screening for money laundering and sanctions.
2) It leverages proprietary World-Check data on politically exposed persons and other high-risk individuals to identify hidden risks through multiple identifiers and additional data fields.
3) The software is designed to reduce the burden of daily customer screening through customizable searches, reduced false positives, and improved workflow efficiency.
Alignia for Business Security is designed to simplify the tasks of analysts from the Information Security department; it offers a comprehensive model of prevention and control of the information security and privacy. It provides the needed tools to protect, detect, record and alert on threats and incidents, improving the processes control, the compliance with audits and other regulations, and reducing levels of risk.
Alignia for Business Security is designed to simplify the tasks of analysts from the Information Security department; it offers a comprehensive model of prevention and control of the information security and privacy. It provides the needed tools to protect, detect, record and alert on threats and incidents, improving the processes control, the compliance with audits and other regulations, and reducing levels of risk.
The document discusses Panacea, a cloud-based solution that provides patients access to entertainment, education, communication and clinical information at their bedside via terminals. It allows hospital staff to access applications that improve workflows. Some benefits highlighted include improved patient experience and satisfaction, enhanced staff productivity, streamlined clinical access and increased revenue potential for hospitals.
The CIISTM solution from CubeIQ allows for on-demand printing and personalization of Visa and Mastercard compliant cards along with PIN selection in under 60 seconds. The system includes card personalization machines and CIIATM software which can be used in remote bank branches and merchant locations for instant issuance of debit, credit, and ATM cards. CIIATM offers advantages like on-site PIN selection, integration with existing banking systems, and cost savings over traditional card issuance processes.
Large-scale data gathering and analytics are becoming important for financial institutions to gain competitive advantages. BANKING INSIGHTS leverages data structures to provide support that gives financial organizations an edge. Their powerful business intelligence system provides new insights within financial institutions using an integrated modular approach focused on tangible deliverables, a proven information model, and driving business insights to deliver sustainable value.
This document proposes a banking performance management suite (BPMS) to help banks address business challenges from new regulations, competition, and changing customer loyalty. The BPMS would provide a holistic approach to manage financial, operational, and customer performance using a modular big data solution. It would deliver business insights through components like an advanced graphical interface, data modeling, reporting, and security. Customers could use the BPMS for insights like financial analysis, transaction analysis, branch benchmarking, and monitoring key performance indicators. The suite is based on Qlik's in-memory analytics technology and aims to provide a single version of truth across business areas.
The Thesis.net Collection application consists of two modules for managing overdue debts from bank customers and insurance company customers. It allows users to record details of debtors and guarantors, enter actions taken on cases, and generate customized documents. The application automatically numbers records, tracks time and actions, and facilitates daily information exchange between the collection office and client systems via files. A separate law office subsystem also connects collection records to legal case records where required.
2. SMART-AML Anti Money Laundering System
Copyright Swallow Tech (Version 4.2 November 2014) 2
A Complete and Friendly Solution for an optimal management
Money laundering represents a growing risk to the financial community.
In order to be able to control its business, and better manage its activities, a company needs to know its commercial relationships
by checking the evolution of its clients/employees behavior, and identifying the nature and the cycle of all financial transactions
day-by-day.
Financial institutions are responsible for performing checks, screenings and reporting’s, as well as identifying and denounce any
suspect transaction, while at the same time providing an efficient and reliable service to their customers.
The associated rules and international regulatory framework mainly penalizing the foreign countries, international terrorists
and drugs dealer’s lists usually changing, etc., all this creates a complex environment for banks. You need a complete solution
that covers all these legal and statutory needs, as well as international rules.
SMART-AML provides an end-to-end AML solution, integrated with the core of banking platform. It is based on the effectiveness
of dedicated, automated transaction monitoring systems, together with the introduction of the Risk Based Approach (RBA).
MAIN GOALS OF SMART-AML
SMART AML satisfies the following objectives:
Real-time Payment Screening: Tracking down and screening in real time any payment order before their execution, in order to
prevent making funds transactions that risks any managing order violation, foreclosures and other measures.
Transaction Monitoring: The automated process of monitoring transactions upstream or downstream of their execution
allows the identification of unusual/ suspicious transactions, including monitoring single transactions as well as transaction
flows, for subsequent review and, where appropriate, the reporting to the relevant authorities.
Client Screening (KYC): In order to better segment the clients and answer to due diligence obligations imposed in AML matters,
this module collects all the clients’ information and their transactions and makes analysis based on consistency checking rules
and triggers the appropriate alerts.
Automatic compliance: with national and international regulations (including watch lists).
Retroactive Searches: The identification and linking of current and archived transactions, as well as existing and closed
accounts/relationships, in order to undertake due diligence and respond to external ( e.g., regulatory) enquires.
FLEXIBLE RULES AND RISK – BASED APPROACH
SMART AML is based on a large and flexible set of rules and
profiles in addition to a risk scoring models which strongly
depend on the institutions business model, the products and
services it offers and the nature of its customer base.
We believe that risk-based approach enhances the effectiveness
of monitoring for unusual and potentially suspicious activity, to
the extent that such activity is distinguishable from legitimate
activity.
In all cases the objective is to focus on monitoring the most
unusual and potentially suspicious transactions whilst reducing,
as far as possible, the “false/positive” rate.
CUSTOMER DUE DILIGENCE TOOLS (KYC)
SMART AML implements the Customer Due Diligence principle
which is an important tool of risk identification and assessment in
the AML software to detect suspect entities trying to infiltrate a
financial system.
It provides tools such as:
List Screening: to determine if an applicant appears inside any
kind of published lists, Black lists and internal Watch lists.
3. SMART – AML Anti Money Loudening System
Copyright Swallow Tech (Version 4.2 November 2014) 3
KYC Compliance: Compliance evaluations (get to know the client) to supervise the
observance levels of the national and international regulation. Customer accounts are scanned
regularly to detect potential red flag that requires the triggering of alerts.
INTELLIGENT ACCOUNTS AND TRANSACTION MONITORING
SMART-AML contains an effective set of risk-based monitoring rules
related to financial transactions, its functional capabilities insures
the following tasks:
Compare clients and accounts activities during the
reporting period against relevant transaction history
over a time period that the institution considers to be
reasonable and appropriate;
Compare customers’ and their transactions’ data against
a broad rule base and risk scoring models;
Issue alerts if unusual and potentially suspicious
transactions are identified;
Track those alerts in order to ensure that they are
appropriately managed within the financial institution
and that suspicious activity is reported to the
authorities as required;
Maintain an audit trail for inspection by the institution's
audit function;
Provide appropriate aggregated information and statistics.
AML MODULE AND PROFILING
This modular and friendly system allows, amongst others, the automation of the following tasks:
Screening based on black lists (watch-lists) and PPE lists, “Politically Exposed Person” (PPE/ PEP).
Intelligent Monitoring on clients and/or employees actions, …
Meticulous Analysis on financial and operational transactions.
Trends behavioral identification and commercial relationship.
Identification of client’s profiles and their potential risk.
Alerts generation and their orientation towards the appropriate person.
Quick and effective follow up and management of actions and transactions on hold.
SCENARIOS
A scenario is a combination of a filter and a group of actions that
the system applies during the checking process according to a set
of user-defined rules. The user configures its appropriate rules
based on selected criteria to identify the clients/transactions
making a model called “Scenario”.
The scenario establishes the AML upper level control process.
The user specifies:
The control strategies to be used according to the
nature and characteristics of the flow.
The origin of the watch-lists to use (OFAC, ONU, UE, PPE
…).
The type of control (by word or by phone).
The set of rules to be applied.
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Actions and transactions to be gathered in the same group.
…
ALERTS MANAGEMENT
SMART-AML relies on its robust alert engine that is
essentially the basis from which all AML investigation
begins.
With a risk based approach it is imperative that the
assembled data can be dissected to reflect the risk
factors that the institution has identified. The system
provides an effective investigation tool by presenting
alerts hierarchically by category, data sources,
priorities...
All important information related to the relevant
alerts are available including client details, accounts,
beneficiaries, related transaction...
Depending on its risk degree, an alert can lead to
block the relevant transaction or simply notifying the
concerned person of its presence. The user analyses
these details, and takes one of those three decisions (reject, accept or notify a second level controller). A set of reports are available
including Suspicious Activity Report (SAR).
OTHER FUNCTIONALITIES
Security is applied everywhere in the system: "Role", "Password Metre", "Alerts" on processes, “Four Eyes” controls
(double validation).
A « Scheduler » allows the system to launch and monitor batch processes, etc.
Black lists (OFAC, ONU, UE, BKEN...) as well as PPE lists are automatically downloaded from their respective suppliers’
websites and integrated into the application by using the scheduled tasks.
Compliant officers are directly alerted to the existence of new alerts through pop-ups and/or e-mails.
By defining access rules based on selected criteria such as nature of the flow and/or transaction properties so that the
administrator can limit user’s access to the only concerned client and transactions.
All systems activities and user’s activities are tracked in log tables accessible via screen and reports.
Sorting and filtering options allow the users to personalize reports.
All reports can be exported under CSV, Excel, PDF …
TECHNICAL ASPECTS
J2EE (Java) technology is recognized as one of the preferred development technologies nowadays and offers many benefits, such as
integration; Scalability of the system can be achieved through load balancing and clustering. The user access to the system is done
through an Internet browser.
Main characteristics of the system are:
Easily Integrates in all environment and easily interfaces with other existing systems.
Offers powerful and efficient search and investigation functions.
It easily adapts itself the bank needs.
Manages all financial flow: international transactions, payments/ national transfers …
It integrates itself into SWIFT Alliance Access platform to be able to control all incoming and outgoing messages.
Supports a large number of connectors such as files, database, IBM MQ, Web service, sockets …) and any other text format
(plat, XML, Excel, SWIFT …).
ABOUT SWALLOW TECH
Swallow Tech is a leading provider of software solutions to the financial services industry. Trading since 1984, we have branches
in London (Head Office), Singapore, India, Brussels, Lisbon and several agents around the globe. Our customer base extends to
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more than 150 customers, with installations ranging from a single user set-up through to global processing hubs with 400+
concurrent users. Swallow Tech offers a range of integrated solutions that ensure the highest levels of ‘straight through
processing’ (STP) and operational efficiency, whilst minimizing risks and costs.
SwallowTech
378 Chaussée de Bruxelles, B-1410 Waterloo, Belgium
Ph: +32 2 385 14 65, Fax: +32 2 385 17 43
sales@swallowtech.com www.swallowtwch.com
CubeIQ Ltd.
78 Vyzantiou St., 14234, Nea Ionia, Attica Greece
Phone: +30-210-9530242, FAX: +30-210-6255672
Email: info@cubeiq.gr, web: www.cubeiq.gr , www.amlinfo.eu