Clari5 Real-time Anti-Money Laundering

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Overview

Clari5 Real-time AML solution helps banks and financial institutions automate, streamline and comply with existing and emerging regulatory AML/CFT compliance programs. The solution suite features 6 vital modules viz. Suspicious Activity Monitoring, Customer Risk Categorization, Entity Identity Resolution/Watch List Filtering, Regulatory Reporting (CTR/STR/SAR/FATCA), Case Management and Entity Link Analysis.

Key Features

1. Regulatory Reports And Dashboards Clari5 supports regulatory reporting (CTR, STR/SAR reports) for timely filing along with integrated role-based reports and dashboards for any investigator or supervisor.

2. AML Detection Engine The engine receives transactions in real-time from transaction processing systems (Core Banking and remittance systems) to correlate and detect any suspicious money laundering schemes which then generates a case for manual investigation.

3. Out-Of-The-Box AML Scenarios With our pre-packaged AML scenarios, various parameters like Threshold & Time Duration can be configured based on the business policies. These scenarios cover recommendations made by various regulatory agencies. 4. Scenario Authoring Tool (SAT) Clari5’s web-based Scenario Authoring Tool configures new scenarios as/when required, without any coding or effort by the bank’s IT team. Designed for business analysts, scenarios can be added and deployed on the fly. 5. Integrated Advanced Case Management This enhances the investigation team’s probe of all AML cases/incidents detected and supports the intelligent case routing feature to the right investigator with built-in workflow, case escalation and complete audit trail. 6. Entity Link Analysis This feature helps expose customer/account associations and organized money laundering. Users can detect inconspicuous associations among customer/accounts and transactions. Prominent feature: searching and linking similar entities based on associated transactions.

Key Benefits

• Real-time approach to monitor and detect suspicious money laundering transactions • Low cost commodity hardware infrastructure leading to reduced TCO • Quicker implementation owing to pre-packaged AML scenarios and built-in interfaces for integration • Improved regulatory compliance and customer confidence