Automate your wealth funds and investment AML programme

Automated AML Compliance Made Simple

Know Your AML programme responsibilities for Funds and Investments

AML/CFT legislation impacts businesses across all sectors, whether large banks or local leasing companies. Regardless of size, everyone has a part to play in disrupting criminal activity and keeping our communities safe.

As the costs, risks, and regulations associated with achieving compliance continue to steadily increase, reporting entities in every sector require cost effective solutions that are the right fit for their particular risk profile and business environment.

Investment firms, as well as wealth and funds managers, face a variety of complex challenges when it comes to their AML/CFT obligations. For one thing, the requirements, risks, and resources of every firm and every fund vary greatly.

Regulators in multiple jurisdictions have raised concerns that reporting entities in this sector may not have enough controls and operational mechanisms in place to detect and report on financial crime. And reporting entities are concerned about the rising cost of meeting their obligations. This cost is compounded by successful growth so it needs to be balanced with providing top notch service to customers.

But every reporting entity in the sector must comply with their obligation to conduct ongoing customer due diligence, transaction monitoring, and regulatory reporting. Excel spreadsheets and outdated systems aren't good enough any more.

Whether you're only processing a few thousand transactions a year, or you’re managing a high volume of customers and transactions, you can rely on Jade ThirdEye to help improve productivity, increase cost-effectiveness, and bolster your AML compliance programme.

Reporting entities in the funds and investments sector need:

To be able to identify suspicious transactions, report to regulators in good time, and prove their AML/CFT obligations
To screen large and dynamic customer lists to fulfil ongoing obligations with less effort
To help flag and monitor high-risk customers from PEP and Sanction lists
To monitor risk throughout the customer life cycle with less effort
To automate regulatory reporting so obligations are met on time and staff spend less effort on low value activities
To remove manual processes that are risky, unreliable, and take up valuable staff time
To use simple, accessible software that empowers businesses to use their expertise and meet their compliance obligations with minimal training and time

A high level of local service and expertise so your staff are supported
A highly secure, reliable SaaS solution that frees up your IT and compliance teams to spend time on more valuable tasks and less time managing software
To be able to update, tune, and optimise the system over time to respond to regulatory and behavioural change without high service costs
Consistent, centralised record keeping, audit trails, and reporting to help reduce the cost of audits and make it easy to prove compliance

Features include

Integrated Data The ability to integrate data from any system and use a wide variety of data fields in a central, dedicated solution for AML/CFT compliance monitoring.

Flexible Rules

Easy to use, flexible rules engine so you can monitor for different products, funds, typologies and behaviours.

Integrated Watchlists Integrated watchlists to help you flag and monitor high-risk customers and entities like PEPs, and meet ongoing customer screening requirements.

Automated Reporting Automated regulatory reporting that detects required transactions and streamlines the entire process of submitting reports, including automating submission to AUSTRAC and the FIU.

Demonstrable AML Compliance A fully audited system of record to help you report on, review, and prove AML compliance, as well as create a valuable separation of information for your compliance team.

Full In-region Support Full support in your region from our team to help keep your system up and running, train your staff, optimise your rules, and make sure you get the most out of the product over time.

Reduced Risk A fully hosted, secure solution with local support means minimal IT and project overheads, lowering the total cost of compliance, and increasing the reliability of your AML programme so your staff can focus on more valuable activities.

Centralised Management The ability to manage multiple products and data sets through a single, centralised system.

LET’S ACHIEVE AML COMPLIANCE TOGETHER

A cost-effective, flexible AML solution for wealth fund and investment providers

RESOURCES

RESOURCES Blog

What is transaction monitoring and what do I need to know about my monitoring risks? At a recent ACAMS virtual panel event, 3 specialists discussed this topic.

RESOURCES On-demand Webinar

Learn best practices for creating, monitoring and optimising rules to make your AML compliance program the best it can be.

RESOURCES Brochure

Explore how the flexible Jade ThirdEye solution helps organisations to achieve AML compliance.