These functionalities mustmeet your day-to-day needsin terms of :
- Productivity(User needs),
- Traceability and Explicability(Regulators' needs),
- Fluidity and speed of suspicion clearance(Business needs).
Below are themain functionalities that should not be overlooked when choosing your solutions.KYC/AML-CFT.
Score
Compliance tools define scores and raise alertsthat provide input for systems such asGRC(Governance Risk and Compliance),CRM(Customer Relationship Management) orKYC(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).
Augmented Intelligence = Relevance and Efficiency
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, withdrastically reduced processingtime thanks to aformidable detection and reduction engine,automated from start to finish, with anunprecedented level of granularity, over 70 reduction criteria andreal-time responses.
Profiling
Our profiling toolintegrates adynamic parameterizationsystem that enables us to take into account andcross-reference different data from different sources. It takesinto account all the company's internal compliance criteria, and automates certain decisions to streamline the customer/KYC.
Quality lists
All lists of Sanctions andAsset Freezeslists of Politically Exposed Persons, their relatives(RCA) and/or Persons with a bad reputation(Adverse Media) ... are sifted.
Total traceability and explainability
All actions, decisions (manual or automatic), supporting documents, comments, etc. aretraced and stored in your tool.AML-CFTThey can be made availableto the relevant authorities at any time, in the form of a summary document.
But also, detection of financial transactions
Our transaction filtering/monitoring tools enable you to set alert generation rules or exclusion rules(false positives), based oneach 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.
Automation
The fullyautomated tool providesthe customer with adailylist ofhighly reliablealerts to qualify,thanks to a global analysis of existing market data, whiledrastically 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 frommajor time and cost savings.
In addition tosystematic analysisof the customer portfolio (Prospects, Customers, Suppliers, Employees), the tool aggregates "exhaustive" information from allglobal 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 ahigh level of data quality in the customer database(distinct first and last names, date of birth and country of birth, gender, etc.).
As a reminderAML-CFTthe professions subject to the law haveperformance obligations regarding the detection of persons subject to sanctions and/orasset freezes. Whereas they haveobligations of means concerning the detection of persons under sanction and/or asset freeze.PEPRCA, Adverse Media, Countries at risk!
Unique performance
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 tochoose 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 tochoose the best tools on the market and interconnect them within their IT systemsvia these programmable APIs.
Fully integrated, to streamline your customer paths
This makes the integration of the compliance module virtually transparentfrom 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 journey can instantly adapt, offering the user an additional step to complete theKYCand thus speed up decision-making by compliance operators at the time of investigation.
Thanks to itsfull API Web Services Rest/Json interface, our solutions can be adapted to any corporate information system or digital customer journey. They canbe implemented in record timewith your existing information and management systems. We offer youseamless,secureintegration, with thehighestlevels of securityandconfidentiality.
Choosing the right compliance tools is therefore a crucial step, and one that needs to be carried out carefully, following a rigorous method and analysis. The efficiency of yourcompliance processes will depend on your choice of tools.AML-CFTbut also thereduction of your risks.