AML Compliance Re-defining the Standard – Agile Optimization in AML Compliance

RiskShield AML Compliance solution is a flexible and intelligent monitoring platform that combines software technologies such as machine-learning, fuzzy logic, dynamic profiling and social network detection to closely monitor the behavior of customer accounts and transactions.

Overview

RiskShield will help your organization to fight money laundering and terrorist financing in a time efficient manner, giving your AML analysts an opportunity to investigate suspicious transactions or sanction hits in detail. Filing regulatory reports is easy, whether you use report templates for Suspicious Activity Reports (SAR), Currency Transaction Reports (CTR) or configurable interface for automatic report uploading. INFORM helps financial institutions to better manage risk, improve business processes and efficiency of investigating alerts.

Additionally, RiskShield’s unique multi-channel approach on customer behavior monitoring gives financial institutions the possibility to better understand the behavior of the customers from different perspectives e.g. through online and mobile banking, cash withdrawals at ATMs, SEPA transfers, call centers, e-commerce transactions etc.

Contact

Halyna Lavryshchuk

Halyna Lavryshchuk
Consultant
Tel: +49 (0) 2408 / 9456 - 5000 riskshield@informinform-software.com

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Features RiskShield

  • Advanced analytics

    Unleash the value of advanced analytics to understand the costs of risks by using predictive modeling, simulations and data visualization tools.
     

  • Transparent decision logic

    Use easy to understand and user-friendly decision algorithms that can quickly adapt to new modus operandi of money launderers.


  • Stop known AML patterns

    Identify and in investigate unusual transaction patterns and customer behavior such as structuring, fund movements, high frequencies or related to high-risk areas.

  • Automated link detection

    Identify and link similar shared indicators between people, addresses, phone numbers and entities automatically.

  • Holestic approach

    Building a holistic view on every customer with automated risk classification and ongoing due diligence monitoring to detect and alert abnormal behavior.

  • Business intelligence

    Dig into detailed information and conduct searches through recent alert activities, identify trends and evaluate statistics using this powerful business intelligence tool.

  • Flexible integration

    Integrate into the existing payment and accounting system without impacting the IT systems with open and highly configurable interfaces.

     

     

  • Social network analysis

    Visually interact with data and analyze alerts to find any social links such as addresses, phone numbers, email addresses and more.

  • Case investigation

    Streamline alerts and case investigations with an integration case management tool to manage your information in any form, from any source, all in one single environment.

Customer Due Diligence

Customer Due Diligence

Customer identity or Knowing Your Customer is the foundation of every risk scoring strategy. In recent years, increased regulatory requirements have forced financial institutions to expend significant resources to address Customer Due Diligence controls. RiskShield is using the same smart technology for risk scoring to increase efficiency among compliance teams and determine the right due diligence process for accepting new customers. Based on the scoring results, RiskShield can quickly and accurately identify customers depending on their risk factors and then automatically segment them.

  • Acceptance and risk scoring of new customers: Real-time risk scoring based on received on-boarding input, instant reference checking of previous on-boarding (phone numbers, addresses, email, etc.)
  • Categorize customer in pre-defined risk levels and/or business profiles (e.g. low, medium high).
  • Auto-trigger additional processes for e.g. enhanced due diligence.
  • Real-time screening against PEP lists and Terrorist Financing & Sanction lists:
  • Ongoing due diligence: continuously monitoring of transactions, accounts and customer behavior, and automatically re-evaluating risk classifications based on aggregated risk scoring of customers.

AML Transaction Monitoring

AML Transaction Monitoring

RiskShield’s AML solution is a flexible and intelligent monitoring platform that combines software technologies such as machine-learning, fuzzy logic, dynamic profiling and social network detection to closely monitor the behavior of customer accounts and transactions.

Additionally, RiskShield offers a set of out-of-the-box rules and scenarios to fight money laundering. You can also build own scenarios based on the arising trends e.g. cryptocurrencies, crowd-funding, charities, online gambling. At the same time, it gives a bank the possibility to adjust the rules based on their own risk management requirements.

  • The behavior of customers is constantly monitored based on events such as deposits, withdraws, transfers and non-financial events (address change, new PIN code)
  • Unusual behavior is detected using several techniques for example; the customer’s historical data, behavior profile, risk category and peer group analysis.
  • Advanced monitoring e.g. pattern recognition (structuring/smurfing), network detection (money mules) and data visualization for trend analysis.

Watch List Screening

Watch List Screening

Regulators are paying more attention to the quality of screening. RiskShield offers a single solution to screen your customer information and payment messages against various sanction, and embargo lists, automatically and in batch or real-time mode. Whenever a match with a listed entity occurs, the system automatically "flag" the transaction and report the transaction to the designated person for further investigation. RiskShield can process different types of lists from regulatory bodies like OFAC, EU, and UN, but also from in-house lists and lists provided by leading third-party list content vendors. RiskShield offers:

  • Fast and reliable watch list screening technology for monitoring real-time payment transactions and customer databases.
  • Flexible interfaces to easily integrate watch list in various formats (e.g. XML and CSV), in-house watch lists and from 3rd party content providers.
  • Powerful fuzzy name matching technique to check a name or entity in a watch list using various type of spellings e.g. “phonetic” spelled similarity.
  • False positive reduction with an auto feedback loop, consulting historical data combining with RiskShield advanced rule editor.
  • Workflow automation triggering different actions for different lists (PEPs, Sanctioned, terrorist financing, law enforcement).

Contact

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