Automate your AML Programme for Payments

Automated AML Compliance Made Simple

Know your AML programme responsibilities for payments

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.

Thanks to digital technology, the world of payments, foreign exchange, and money remittance providers has developed quickly and is now reaching more areas of the world with a wide variety of new services that are fast and convenient. But with this growth comes the fundamental requirement to be safe and secure.

That’s why compliance is a top priority for the remittance industry. Remittance volumes are rising every year and more corridors are being connected through sophisticated networks developed by today’s global money transfer operators.

But all organisations are subject to local, national, and international regulations. Whether the remitter is a money transfer operator or a bank, it's bound by long-standing due diligence and compliance obligations.

Reporting entities in the payments 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
Automated detection and reporting for foreign and cash transactions
To be able 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

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
To be able 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 Highly flexible, rules-based transaction monitoring that you can configure and adapt over time according to your risk profile.

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

Automated Reporting Automated regulatory reporting detects the required transactions and streamlines the entire process, saving valuable time and making sure you meet your reporting obligations.

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 you keep your system up and running, train your staff, as well as optimise your rules and how you use 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 program 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 payment providers

RESOURCES

RESOURCES On-demand Webinar

Join us in a panel discussion around the key aspects Money Remitters and Currency Exchange Providers need to consider for their AML/CFT programme.

RESOURCES Case Study

Money remitter, Fexco Pacific, transforms its transaction monitoring programme, enabling it to meet its AML obligations twenty times faster.

RESOURCES Brochure

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