According to the Financial Action Task Force (FATF), the global money laundering market is estimated to be between 2% and 5% of the global GDP, which is equivalent to $800 billion to $2 trillion annually.
Financial institutions must implement effective anti-money laundering (AML) controls to prevent the use of financial systems to launder the proceeds of illegal activities. Laundering entails concealing the true origins of illicitly obtained funds, such as those from drug trafficking, terrorism financing, fraud, corruption, and tax evasion. It is a growing risk, as seemingly legitimate transactions are exploited by criminal groups to launder funds and finance terrorist activities.
Enhanced monitoring capabilities helps identify suspicious activities that may go unnoticed, reducing the risk of money laundering and terrorist financing.
Ensure compliance and process large volumes of trade transactions quickly and accurately
Detection & prevention of money laundering, terror financing & other financial crimes
Snapshot view of the customer accounts, commission charges, forex rates.. Complete View of Trade Finance business across all channels. Improved Audit & Compliance. Automated Workflow designed exclusively for Trade Finance.
Workflows for trade origination, Document Examination/Compliance, Product Lifecycle & Straight Thru Transaction Processing. Complete Configuration of Bank’s Approval Matrix & Deviation Hierarchy. Chain based approval as per Bank’s SOP AML, Sanctions & Blacklist Country Checks via Integrations.
Know Your Customer / Customer Due Diligence - KYC / CDD
Audit Assessments
Need for Joint Standard and Common Policy
Legal Constraints and Challenges of Information Sharing
Third-party intermediaries
Illicit cash integration
Terror funding
Automated transaction monitoring
Automatically monitor all trade transactions against the maintained RBI Red flag indicators and flag any suspicious activities.
Customizable rules and thresholds
Allows for customizable rules and thresholds to be set, based on the organization's risk appetite and compliance requirements.
Dashboard and reporting
Provides dashboard and reporting functionalities, allowing for easy tracking of suspicious activities and generating necessary reports for regulatory compliance.
Data scrapping capabilities
Ability to scrape trade transactions data from various sources and formats, including excel spreadsheets, pdfs, and text files.
Alert generation for Suspicious transactions
Generates alerts for suspicious transactions and notifies relevant personnel for further investigation.
Complete Audit trail
Maintains a robust audit trail of all analysis and actions taken, including any user actions or modifications made to flagged transactions.
Scalability
Able to handle large volumes of trade transactions data and calable to accommodate future growth.
User Friendly Interface
A user-friendly interface that allows users to easily access and analyze trade transactions data and review flagged transactions.
Enabling Digital Transformation in Trade Finance, Customer Communication, Compliance, Audit and Regulatory Reporting
We deliver technology-driven solutions that drive digital transformation for banks, their customers and help them get ahead of today’s challenges to capitalize on what’s next.
Providing the critical tech infrastructure that powers Trade Finance, Corporate Portal, Foreign Exchange, Regulatory Reporting, Compliance, Audit and Corporate Communications to enable better financial lives.
Decades of global experience across Banking and Technology enables us to visualise the transformation journey that increases efficiency and reduces risk.
Designing Experience centric, customer focused, digital first journeys with the latest technology implementations.
Clear focus on BFSI Automation, Compliance, Regulatory Reporting. Customer Centric Approach. Comprehensive solutions used by thousands of bank users & corporates.
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