Spot shady and suspicious transactions, with transaction monitoring in AML
Knowing Your Customer involves more than just sign-up and KYC at initial interaction; it means understanding them throughout their entire digital life cycle. By implementing real-time transaction monitoring in AML, you can identify, track, and act on customer behavior using a comprehensive transaction monitoring system. This approach ensures compliance, detects fraud transactions, and enhances your overall transaction monitoring process.
Benefits
-
Visualise your transaction monitoring workflow
Create a control centre for your fraud transaction monitoring and risk teams.
Ensure compliance and enhance your ability to detect fraud transactions efficiently.
-
Track suspicious behaviour in real-time with our advanced transaction monitoring tools
Identify AML and fraud transactions fast using our robust transaction monitoring software solution.
-
Eliminate isolated data silos, avoid redundancy, and save money with our transaction monitoring software.
Profile AML, fraud, and affordability within a single integrated transaction monitoring platform, enhancing your transaction monitoring process.
The delicate matter of anti money laundering transaction monitoring
How to spot suspicious behaviour with transaction monitoring tools?
How to enhance your AML transaction monitoring process and reduce customer friction?
How to manage cross-border and multi-jurisdictional AML transaction monitoring compliance?
How to automate your transaction monitoring system?
How to handle continuous real-time transaction monitoring?
The key is to build reliable and automated workflows, use transaction monitoring software to monitor transactions, and detect anything out of the ordinary.
Identify the needles in the haystack; detect fraud transactions
Set and manage rules and parameters, focusing on identifying and reviewing the "needles in the haystack" – customer cases that might be problematic.
Assert tolerance levels to the broader customer base using additional rich data and advanced algorithms with your transaction monitoring system:
The transaction monitoring system “learns” customer behaviors. Genuine customers are less likely to be marked for review.
Watchlist/blacklist and whitelist your customers.
Escalate cases to Management and AML Reporting Officer.
Stream data into the Case Manager for real-time transaction monitoring insights.
Risk- based transaction monitoring tools
Utilise your transaction monitoring system to consume all transactional data, such as deposits, risk groups, and more.
Select and deploy rules from an extensive transaction monitoring rules library within your target workflow.
Leverage “funds flow” to determine AML and RG (RiskGrades) risk across a client’s entire portfolio.
Customer transactions can be categorised into “buckets of risk” for subsequent actions.
Customise risk thresholds and automate actions with triggers.
Results are sent as either a light touch payload or in full.
The expert team from Signicat will guide you through different transaction monitoring options, rules, and how to optimise your transaction monitoring process. Once deployed, rules can be adjusted and modified, with the Signicat team continuing to assist in optimisation.