Financial Crime

About AML/Financial Crime

Compliance with AML, KYC and OFAC sanction requirements continues to be a key focus area for management, and companies must ensure they are following appropriate compliance procedures to meet increasing regulatory demands. Financial institutions are susceptible to AML and OFAC risk and must ensure they develop and maintain a robust compliance framework, that utilizes both a monitoring and KYC platform working in conjunction with one another to provide a single customer view.
The surveilLens’ platform offers institutions with end to end AML coverage through the transaction life cycle, from customer due diligence (CDD/KYC), acceptance and onboarding, to transaction monitoring, watch list filtering to case management, reporting and CTR/SAR filing. The solution comes with industry specific detection, workflows, and provides a holistic view of customer activity to give institutions peace of mind in their BSA/AML compliance efforts.
Our solutions are built for large, mid size and small enterprises seeking to keep abreast of the increased scrutiny and expectations from regulatory agencies..

For more information please download our AML Tearsheet

Download Now

Financial Crime/Anti-Money Laundering

Whether it be from violations of anti-money laundering (“AML”), know your customer (“KYC”), Office of Foreign Asset Control (“OFAC”), financial crime is an increasing concern for all financial institutions large and small. Financial crime not only results in fines and penalties, but also loss of revenues and reputational damage.

Effectively preventing and detecting financial crime is often difficult because of organizational challenges such as siloed data housed in disparate locations or data trapped in different systems that cannot communicate with each other.

surveilLens provides companies with innovative and advanced solutions for detecting and responding to Financial Crime incidents, remediating past deficiencies, developing enhanced operating models, and optimizing financial crime compliance programs.

Key features of the platform include:

Suspicious Activity Monitoring and Reporting

  • Customizable rules engine to detect money laundering and other financial crimes.
  • Apply rules, scenarios and risk factors to transactions to detect suspicious activity.
  • Generate alerts for transactions and events meeting specific rule parameters.
  • Create alerts by workflow process.
  • Easy-to- use, point-and- click interface that enables:
    • Creation and modification of customizable scenarios and risk factors.
    • Creation of customized routing rules for workload distribution.
    • Ability to search structured and unstructured data to find suspicious transactions.
    • Automated preparation, reporting and regulatory filing capabilities (CTR, SARs etc.)

Investigation and Alert Management

  • Alert prioritization and management.
  • Case management workflow feature allows for the escalation of flagged transactions and creation of cases.

Watch-list Matching

  • Ability to import sanctions and other watch lists to identify persons, organizations or high-risk jurisdictions that represent regulatory risk.
  • Fuzzy-matching logic increases the accuracy of entity matches.
  • Ability to categorize transaction, party or counterparty matching lists as alerts or cases.

Enhanced Customer Intelligence

  • Capture, store, and analyze data that provides a holistic view of customers including ultimate beneficial owners and relationships between accounts, customers, and other entities.
  • Advanced onboarding features that expedite account decisioning.
  • Complete and consistent assessment of customer risk from onboarding, ongoing customer due diligence (CDD) and enhanced due diligence (EDD) processes, allowing organizations to identify, manage, and mitigate customer-related risks.
  • Integration from other portions of the overall program allows institutions to ensure that their knowledge of their customers is always current.

Data Management and Searching

  • Support for multiple data types (nonmonetary event data, geographic data, risk lists, third-party data, associate data and a variety of customer information data) in addition to transaction data.
  • Ability to search structured and unstructured data.
  • System retention of data for future investigation.
  • Import and export to data to and from multiple platforms.
  • Aggregating alerts at the entity level.
  • Store and categorize data for analysis, investigation and decision-making.

High-performance Analytics and Visualization

  • Feature rich reporting and visualization tool with a customizable user interface, allowing for user assessment of exposure to financial crime and compliance risk.
  • Advanced analytics combined with built-in, industry specific detection, workflows, and investigation tools.
  • Advanced analytics for internal or external reporting.
  • Mapping of transaction records to support transaction, account, customer, and geographic dimensions.