AML Risk Manager
Ensure Compliance, Reduce Risk and Optimize Operational Efficiency Through Accurate Detection of Money Laundering
AML Risk Manager from Fiserv, is a comprehensive anti-money laundering solution that goes beyond traditional transaction monitoring to ensure regulatory compliance, enables your financial institution to screen, risk-rate and collect necessary know your customer (KYC) data for all transactions and manage risk through ongoing monitoring and due diligence. Advanced analytics minimize false positives and prioritize alerts, enhancing operational efficiencies.
- Advanced detection techniques to identify more suspicious activity and reduce false positives
- Know your customer (KYC) scoring used for initial, ongoing and enhanced due diligence
- Superior beneficial ownership tools and link analysis
- Robust customer-profiling capabilities
- Superior watch-list matching capabilities, including high volume processing
- Automated management and regulatory reporting and dashboards
- Flexible platform that adapts to regulatory changes and optimizes operational efficiency
AML Risk Manager takes a multilayered approach to detect financial crime through behavioral profiling, advanced analytics and risk scorecards as well as real-time, batch and peer group analysis. The techniques can be used individually or in combination and can be applied to monitor entities and events, such as transactions, accounts, customers and employees. The solution evaluates alerts based on machine-learning models, informed by historical outcomes of investigations, to accurately identify alerts as productive or nonproductive and then prioritize and process them appropriately. In combination with the AML Risk Manager alert investigation portal, analysts can quickly and easily see the critical alert information necessary for holistic analysis and quick, accurate decision making. That enables analysts to focus on remediating high-risk alerts and managing risk more effectively.
Know Your Customer Performing
KYC due diligence is a regulatory requirement that is time-consuming, prone to errors, and can have varying levels of complexity based on customer type and products and services offered. The ability to create, complete, store and view custom due diligence questionnaires directly in the solution enables easy tracking and eliminates paper forms. That functionality ensures required KYC data is collected for high-risk customers, including those in high-risk industries that require enhanced or specialized due diligence. The questionnaires are often used as intake forms.
The watch-list filtering capabilities in AML Risk Manager provide innovative matching analytics, and robust alert and case management features designed to reduce operational costs, mitigate compliance risks and achieve long-term regulatory, operational and IT objectives. Watch-list filtering screens data such as customers, accounts, counterparties, transactions and vendor information against sanctions and politically exposed persons (PEP) lists, as well as custom lists and those provided by third-party data service providers. It also includes customer risk scoring. Watch-list filtering can be applied to every aspect of your AML program, from customer and enhanced due diligence processes to periodic customer reviews and screening for wires and payments. Importantly, it supports regulatory compliance with sanctions and PEP obligations, such as those enforced by organizations like the Office of Foreign Assets Control, Office of Superintendent of Financial Institutions and United Nations. The modern matching engine provides faster processing speeds and performance to enable the scanning of very large amounts of source data against very large watch lists, while enhanced matching technology provides match variation options for date, address and name-related information.
Regulations require the capture of ownership and controlling-person information. AML Risk Manager solves that challenge by aggregating transaction data for regulatory reporting and exposing complex beneficial ownership structures through advanced relationship visualization. See the example below. You can effectively identify financial ownership and controlling interest while having the ability to examine relationships in owner-centric and entity-centric views. Drag-and-drop network analysis enables drilling into ownership associations that otherwise would not be apparent.