Anti-Money Laundering (AML) Software — Safeguards High-Quality Risk Assessment
Our Anti-Money Laundering (AML) software ensures any modern business's safe operation. It flags suspicious users and helps your company to comply with all the financial regulations and laws.
Get free consultancy regarding any money laundering-related issue
AML Solution Aimed at Combating Financial Crimes
Currently, businesses frequently face money laundering problems, including exchanging and legalizing large sums of money generated as a result of criminal activity. For example, it is estimated that up to two trillion dollars are laundered yearly.
Without regulatory compliance, any business that deals with financial flows risks being involved in money laundering activities. Thus, a company that unintentionally facilitated criminals may be subject to penalties.
To avoid such adverse consequences, AML software is a must. Our innovative digital solutions will help you meet current financial regulations systematically. Additionally, it will reduce compliance costs and prevent money laundering in your business environment.
Essential AML Features with Custom Integration
With your business’ safety in mind, we cover all the activities of your customers: registration, cash inflows and outflows, suspicious activity notification, etc. Here are the ways how our AML software ensures your safety.
Any documentation that your client provides is verified against the government sanction list with careful consideration of designated risk factors.
Besides, AML software can scan a customer’s documentation against third-party lists of Politically Exposed Persons (PEPs), state-owned enterprises (SOE), and other classifications.
Name Screening Engine
Our digital tool can quickly identify users from a PEP classification, database of individuals exposed to negative media attention, and other lists. Then, the software will flag them to an institution in charge.
Such identity verification is essential for the Know Your Customer (KYC) process in banking, NameChecker procedure, and SWIFT message screening.
Our software can detect suspicious transactions of customers based on accounts’ history of transactions. Advanced algorithms also consider specificities of accounts, such as creation date, location of an account owner, etc. Basically, AML digital solutions provide a single virtual tracking net monitoring transactions flow across all the accounts.
Suspicious Activity Reporting
Our AML software assists regulatory and law enforcement agencies combat financial crimes in multiple ways, from investigating and documenting suspicious business operations to writing insight-filled narratives.
Within AML systems, SAR is ensured by a case management tool that manually/ automatically records the suspicious activity and reports to respective financial authorities.
Currency Transaction Reporting
Track transactions that involve large sums of money and multiple financial operations that aggregate huge sums.
One transaction of over $10,000 (or a flow of transactions) will be flagged to comply with the Bank Secrecy Act. Our AML software helps your business operate under financial regulations.
Our AML software is utilized for the constant implementation of transaction compliance requirements. Data management functionality records employee training and scheduled AML audits in the connected database.
Thus, you can always be sure that your company meets the existing business requirements and complies with general financial regulations.
AML Solutions Are an Integral Part of Business Processes
Businesses are obligated to keep updated vast amounts of documentation concerning each individual customer’s activity. AML software greatly assists employees in data processing by accurately filtering information. It helps organizations to fulfill their obligations regarding money laundering prevention. Why should your business use an AML solution? We will list a few main reasons:
- A full picture of customers’ transaction activities (past and current)
- Accurate analytics reports to make sure there are no human errors
- Effective cooperation with auditors and stakeholders who prioritize using AML software
- Quick scanning and analysis of large volumes of data
- Guaranteed compliance with the legislation and recent regulations
Integrity and Efficiency of Identance AML Software
Our product efficiently identifies high-risk operations and builds a fully-fledged view of AML-related aspects. We enhance your AML system with the following benefits:
Our AML software centralizes all internal and external data, facilitating accurate investigations of money-laundering issues. This way, you have convenient access to real-time processed, reliable information.
Design with Customization
The customizable design we provide by your request enhances software with additional features. It includes large-scale batch reviews managing, direct public records inputting in your API-based system, and others.
Quick Time Response
We are proud to claim the achievement of quick time response of digital tools we develop. Clients that ordered our AML software report the substantial increase in the time-efficiency of multiple processes.
Smart Risk Detection
AML solutions developed by Identance excel in risk detection thanks to continuous automatic learning. Our software adapts to changes in financial regulations and legislation and ensures that measures being implemented against frauds are valid.
Extensive Risk Coverage
Our AML solutions can identify and monitor evolving transaction threats. It helps you stay aware of changing screening risks and alterations of KYC patterns.
Identance’s AML software supports easy integration in the existing and future up/downstream systems using inbuilt connectors and REST API interfaces. We always intend to meet your particular business needs. That’s why we make sure that digital solutions operate on the chosen platform in the most effective way.
It Is Time to Boost Business Security and Safeguard Growth!
AML is a tricky financial security sphere: failure to comply with the regulations leads to adverse consequences. Luckily, Identance has got you covered! We design top-level proprietary AML software for your specific needs.
Talk to our expert and be confident that we will resolve any AML-related challenge your company faces.