AML Risk Manager from Fiserv provides comprehensive anti-money laundering (AML) monitoring capabilities beyond traditional AML transaction monitoring to ensure regulatory compliance. Effective AML monitoring helps organizations quickly detect money laundering activities, manage customer data and ensure compliance.
The first line of defense in a robust anti-money laundering program is a comprehensive monitoring and detection system. AML Risk Manager detects financial crime through behavioral profiling, advanced analytics and risk scorecards as well as real-time, batch and peer group analysis. The techniques can be used individually or in combination, and can be applied to monitor transactions, accounts, customers and employees.
The integrated alert and case management capability in AML Risk Manager creates alerts based on your detection scenarios and alert definitions defined in the system. Peer group activity can be used in conjunction with historical profiles to refine alerts, leading to increased accuracy and reduced false positives.
And finally, advanced inference strategies are built by analyzing historical data and joining it with the outcomes of alert and case review to discover non-obvious transaction patterns indicative of risk covering both potential money laundering and fraud. This demonstrates a transparent data-driven risk-based approach to regulators.
Organizations can screen, risk rate and collect necessary know your customer (KYC) data on all customers and manage risk through ongoing AML monitoring and due diligence. The KYC due diligence questionnaire functionality in AML Risk Manager, along with watch list filtering and customer risk rating, offers a holistic and integrated approach to knowing your customers' behaviors and risks.
AML monitoring and detection:
- Offers behavioral profiling of any entity, including counterparties
- Reduces false positives through proven monitoring techniques
- Enhances operational efficiencies
- Helps ensure regulatory compliance with data-driven, risk-based approach
AML Risk Manager allows organizations to achieve the most accurate AML monitoring and detection possible through advanced inference techniques.