Key to managing financial crime risk is understanding the transactions a customer makes. This information, however, can be difficult to retrieve, search and analyse. In some cases, regulators place a legal requirement on banks to conduct payment look-backs for up to five years. It is the job of financial crime analysts to investigate customer payments to meet these regulatory demands and manage their bank’s risks. We have built a look-back software platform that is at the heart of managing financial crime risks.
Its key benefits are:
Simplified collection of raw payments data using international standards.
Sophisticated algorithms that organise the payments between customers into a simple “bank statement” view.
Powerful search facilities allowing the records of millions of customers to be quickly identified.
Easily ‘follow the money’ by clicking the name of third-party customers (counter parties) to reveal all their interactions with your institution.
Workflow, reporting and audit trails that fully document the risks that an individual or company poses to your institution.
The look-back tool is remarkably simple to implement whatever the size of your bank. It puts your financial crime analyst in control of your payment data. Understanding what payments your customer, and customer’s customer makes, is just a click away.
Meet Anna for a quick overview...