Features essential to regulatory performance

An infallible compliance tool must provide the basic functionality needed to validate the entire AML compliance system implemented in your company.

These functionalities must meet your day-to-day needs in terms of :

  • Productivity (user needs),
  • Traceability and Explicability (regulators' needs),
  • Smooth and rapid removal of suspicions (business needs).

Below are the main functionalities that should not be overlooked when choosing your solutions. KYC / . AML-CFT.

The audit trail is mandatory and enables all operations carried out through the tool to be traced. Without an audit trail, the regulated company is unable to prove to the regulator the actions it has implemented, and demonstrate the relevance of its system to the "theoretical" compliance policy it has described in its procedures. If you haven't yet defined your policy concerning the identification of sensitive persons, the implementation of our tools will help you to do so.

A tool is merely the operational reflection of the financial security policy implemented by the company. A compliance tool must be able to record the criteria and rules that define risk appetite. Without this functionality, it is difficult to prove to the regulator that the tools meet the defined objective. The flexibility with which our tool can be parameterized is therefore essential. The term Model Validation to define this consistency. AP Scan has over 70 parameter settings at your disposal!

The control authorities are extremely vigilant about the frequency with which the various lists are updated: Global/Regional Sanctions / Assets Freeze (Assets Freeze), P olitically Exposed Person /RCA Relatives and ClosesAssociates, Unfavorable Media, Identification of Countries and Currencies under Embargo...They also check the controls carried out during these updates, to ensure the relevance, quality and exhaustiveness of these lists. AP Scan is 100% compliant and extends the scope of searches to external sources available in open data (INPI, ORIASdeceased persons...).

The nature and quality of the databases used to filter out sensitive persons (natural or legal) vary. It is necessary to consider the sources from which the information originates, and to question the intrinsic value attached to each piece of information collected. AP solutions IO uses national and global watch and sanction lists from national, international and intergovernmental organizations, as well as from the most reputable private companies. These lists are constantly updated by thousands of analysts worldwide.

The obligations GDPR (General Data Protection Regulation) have highlighted the risks to the company of a tool that does not meet the required security criteria. These can include unauthorized access, data leakage, system unavailability and service interruption, data loss, cancellation of procedures such as declarations of suspicion if people are warned, among other risks. AP Solutions IO offers you seamless, secure integration, with the highest levels of security and confidentiality

Compliance tools define scores and raise alerts that provide input for systems such as GRC (Governance Risk and Compliance), CRM (Customer Relationship Management) or KYC (Know Your Customer) systems. Imperfect filtering or detection leads to the implementation of inappropriate control procedures. Irrelevant alerts clog up the departments in charge of qualifying them, and can increase intrinsic compliance risk(false positives).

The algorithms encoded in the tools must be relevant and effective. The relevance of detections will optimize the time and resources required by compliance teams, thanks to their scores, to review alerts and carry out the required checks.

Our tools offer you superior detection intelligence, with drastically reduced processing time thanks to a formidable detection and reduction engine, automated from start to finish, with an unprecedented level of granularity, over 70 reduction criteria and real-time responses.

Our profiling tool integrates a dynamic parameterization system that enables us to take into account and cross-reference different data from different sources. It takes into account all the company's internal compliance criteria , and automates certain decisions to streamline the customer/KYC. All lists of Sanctions and Asset Freezes, lists of Politically Exposed Persons(RCA) and/or People with a Bad Reputation (Adverse Media) ... are screened.

All actions, decisions (manual or automatic), supporting documents, comments, etc. are traced and stored in your AML-CFT tool, with the option of making them available to the relevant authorities at any time, in the form of a summary document. 

Our transaction filtering/monitoring tools allow you to set alert generation rules or exclusion rules (false positives), for each criterion of your transaction. This flexibility is the only way to ensure that your financial security policy is easy to read and understand, and that it is instantly applied to your filtering system.

The fully automated tool provides the customer with a daily list of highly reliable alerts to qualify , thanks to a global analysis of existing market data, while drastically reducing the number of " false positives ". Customers who have to comply with these regulations - which are both restrictive and particularly beneficial to their business - benefit from major time and cost savings.

In addition to systematic analysis of the customer portfolio (Prospects, Customers, Suppliers, Employees), the tool aggregates "exhaustive" information from all global suppliers of information on sensitive customers. Screening is carried out by a " fuzzy logic " detection engine (orthographic approximation) and not simply by "exact match". Relevant screening requires a high level of data quality in the customer database (distinct first and last names, date of birth and country of birth, gender, etc.).

As a reminder AML-CFTAs a reminder, in the area of financial reporting, the regulated professions have performance obligations regarding the detection of persons subject to sanctions and/or asset freezes. Whereas they have obligations of means concerning the detection of PEP, RCA, Adverse Media, Countries at risk!

This point should not be overlooked, as poor tool performance in relation to the volumes submitted by the company (number of customers/third parties, number of transactions) can slow down or interrupt the execution of compliance checks. In this case, operational risk becomes compliance risk. And the company could find itself in default! AP Solution IO guarantees perfect scalability and high-volume processing...

The ability of our engines to process millions of items of information in real time means that you can integrate the first checks right from the start of the relationship. For example, this enables a sales rep or digital customer relationship manager to adapt his or her approach and/or the information to be collected immediately. The commercial relationship then becomes completely fluid.

Gone are the days of rigid systems imposing their own formats, closed to other applications and not respecting IT (Information Technology) standards.

Our tools minimize integration project phases, enabling companies to choose targeted tools rather than "all-in-one" solutions, guaranteeing IT system scalability. Our solutions are fully adaptable to your policies and risk appetite. The current trend is for companies to choose the best tools on the market and interconnect them within their IT systems via these programmable APIs.

This makes the integration of the compliance module virtually transparent from a technical and, above all, a functional point of view.

Imagine, when entering into a digital relationship, real-time interrogation of the third-party screening engine! In the event of suspicion, the customer pathway can instantly adapt, offering the user an additional step to complete the KYC and thus speed up decision-making by compliance operators at the time of investigation.

Thanks to its full API Web Services Rest/Json interface , our solutions can be adapted to any corporate information system or digital customer journey. They can be implemented in record time with your existing information and management systems. We offer you seamless, secure integration, with the highest levels of security and confidentiality.

Choosing the right compliance tools is therefore a crucial step, and one that must be carried out carefully, following a rigorous method and analysis. The effectiveness of your AML-CFT compliance processes, and the reduction of your risks, will depend on your choice of tools.

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