AUTOMATE YOUR AML PROGRAMME FOR LENDING

Automated AML Compliance Made Simple

Know your AML programme responsibilities for lending

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.

AUSTRAC, the DIA, the FMA, the FCA and other regulators around the globe have increased scrutiny and expectations for financial reporting entities that are subject to AML/CFT legislation. This includes the widely varied mortgage and lending sector.

In some jurisdictions the risk rating for these reporting entities has moved up, which means there’s likely to be more pressure on entities to improve their programmes and prove they're compliant.

These regulatory requirements come with a cost. But the reputational and financial risk associated with non-compliance is not an option.

Changes in the business environment, as well as your continued success, will only increase the scale of the problem. It’s important that you have reliable, cost-effective systems in place to meet your AML/CFT obligations.

Reporting entities in the lending sector need:

Transaction monitoring capability that can be configured to match your risk profile and detect a wide variety of suspicious activity, from sophisticated patterns of customer behaviour to simple cash transactions – out-of-the-box rules aren't fit for purpose
The ability to automate regulatory reporting so you can meet your obligations on time and staff spend less energy on low value activities
A way to replace manual, time-consuming, risky processes with reliable automation that's affordable
Simple, easy-to-use 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 to support your staff

A highly secure, reliable SaaS solution that frees up your IT and compliance teams to spend time on more valuable activities and less time managing software
The ability to update, tune, and optimise the system over time to respond to regulatory and behavioural change without high service costs
Centralised record keeping, audit trails, and reporting to help reduce the cost of audits and easily 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-based transaction monitoring that you can configure according to your risk profile – on your own or with our team.

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

Automated Reporting Automated regulatory reporting functionality that detects required transactions and streamlines the entire process of submitting reports, including automatically sending these to AUSTRAC or 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 from our team in your region to help you keep your system up and running, train your staff, optimise your rules, and make sure you get the most our of the product.

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 staff can focus on more valuable activities.

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

LET’S ACHIEVE AML COMPLIANCE TOGETHER

A cost-effective, flexible AML solution for lending providers

RESOURCES

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