Anti Money Laundering
We offer our Anti-Money Laundering (AML) Module as a standalone product, as well as a seamlessly integrated part of our Insurance ERP systems. It is designed to help insurance companies streamline AML processes while maintaining regulatory compliance. With seamless integration within the Insurance ERP software, this module provides enhanced protection with automated customer due diligence, and continuous monitoring of customer data against an established database with automated reporting and alerts.
Dashboards
The Dashboard offers a comprehensive view of the data gathered by the AML module, offering an overview of relevant data and recent alerts related to AML processes and data.
Admin Masters
The Administrative Portal offers a 360 degree view of all policies to administrators with department, designation, and all relevant data pertaining to users, credentials, and actions taken.
KYC database
The KYC(Know Your Customer) database enables continuous data validation and report creation. It is customisable based on regulations in specific regions and offers admin tools.
Continuous scanning against central database
The module offers automated screening against a worldwide database of PEP(Politically Exposed Person) and sanctions list, with real time reporting for national and international compliance.
Real time alerts
With continuous monitoring and real time alerts and reports, our AML module enables your team to react and resolve discrepancies to keep your company safe from nefarious activities.
Key Features of AML
Customisable Integration
Our AML module is built to be available both as a module for the sole purpose of AML activities, and also has the ability to integrate seamlessly into our insurance ERP softwares. providing enhanced operational efficiency with unmatched speed to market.
Risk Profiling built for Insurance Providers.
Our AML module has been built with the insurance sector in mind.Our AML module goes beyond standard compliance, offering risk scoring and monitoring specific to insurance products, with active monitoring of high-risk transactions for individuals purchasing irrelevant policies, the module serves peace of mind.
Real Time Alerts
With continuous monitoring and real time alerts and reports, our AML module enables your team to react and resolve discrepancies to keep your company safe from nefarious activities.
Features of AML
Real Time Alerts
Built in comprehensive CDD workflows allow for detailed client screening, verification, and risk assessment. The module runs automated PEP (Politically Exposed Person) and sanctions list checks for compliance with local and international standards.
Risk-Based Transaction Monitoring
The module is equipped with advanced algorithms that analyse customer behaviours, detect unusual patterns, and flag suspicious transactions. Risk scoring tailored for insurance products helps risk managers review cases promptly and efficiently manage caseload based on priority.
Real-Time Reporting
Our system allows you to generate detailed, real-time reports for internal communications and regulatory authorities with just a few clicks, with editing capabilities for admins with relevant credentials, the system makes it easier to accurately represent report data.
Case Management Tools
The module offers an easily accessible case management system for flagged transactions, making investigation, issue discovery, and resolution prompt. Task assignment, status tracking, and resolution timelines are available for the compliance team to address reviews without significant time consumption for manual issue discovery.
Third- Party Database Integration
The module seamlessly connects with global databases, including OTAF, FATF, and other relevant regional databases to continuously monitor transactions that may be made by persons that match a high risk profile.
Audit Trails
The system records audit trails for all transactions and compliance checks, enabling accountability and easy access to relevant data during audits. Report generation is made simpler and more informative with a specialised workflow for audit processes.
