Compliance & Regulatory ReportingPurpose
1.2. Automates ongoing review for compliance teams, ensuring automated notification and documenting for audit trails.
1.3. Purpose is to automate regulatory reporting burdens and automate early detection, reducing risk and manual workloads.
1.4. Supports the automator-driven workflow for automatedly escalating and tracking the suspicious incidents as per legal requirements.
Trigger Conditions
2.2. Multiple small transactions automatedly linked to a single account (“structuring”).
2.3. Automating discrepancies in customer identity verification (e.g., mismatched KYC data).
2.4. Transactions to or from flagged jurisdictions or watchlists.
2.5. Automatedly triggered alerts when frequency or velocity of transactions surpass historical patterns.
Platform Variants
• Feature/Setting: Automated triggers for compliance monitoring and invoking review logic; sample: set Rule-Based Triggers for “SuspiciousActivityDetected”.
3.2. Microsoft Power Automate
• Feature/Setting: Build automation flows to review flagged transactions, auto-routing to compliance teams; sample: Scheduled cloud flow + If/Else “Transaction Flag”.
3.3. Azure Logic Apps
• Feature/Setting: Automating flagging integrations with banking core system APIs; sample: Logic App with “When a HTTP request is received” + “Send Email notification”.
3.4. Google Cloud Functions
• Feature/Setting: Automates function executed on transaction events; sample: gcloud function ‘flag_suspicious_xfers’.
3.5. Zapier
• Feature/Setting: Automated multi-app triggers for suspicious activity; sample “New bank transaction ➜ Filter by amount ➜ Gmail alert”.
3.6. Slack
• Feature/Setting: Automated alerts to compliance channel; sample: Incoming Webhook “suspicious_flagged”.
3.7. Twilio SMS
• Feature/Setting: Automated SMS notifications for urgent flags; sample: POST to /Messages API for compliance staff.
3.8. Salesforce
• Feature/Setting: Workflow Rules for automated compliance case creation; sample: Rule “Suspect Transaction triggers Task creation”.
3.9. IBM QRadar
• Feature/Setting: Real-time automated SIEM rule for anomaly flagging; sample: Custom Rule Engine (CRE) “High-Value Outlier”.
3.10. Oracle Financial Services Analytical Applications (OFSAA)
• Feature/Setting: Automated AML event triggers; sample: Customer Risk Monitoring “Alert Generation”.
3.11. Splunk
• Feature/Setting: Configure SPL query-based alerts; sample: SPL “identify_transaction_anomalies”.
3.12. ServiceNow
• Feature/Setting: Incident Response workflow automation; sample: Flow Designer “Create Incident on flag”.
3.13. SendGrid
• Feature/Setting: Automated emails for flagged activity; sample: API trigger when “flag=TRUE”.
3.14. Workato
• Feature/Setting: Automated compliance workflow across banking and comms tools; sample: “Monitor → Condition → Alert”.
3.15. Jira
• Feature/Setting: Automated ticket generation on incidents; sample: REST API “Create Issue on Suspicious Transaction”.
3.16. HubSpot
• Feature/Setting: Automated task assignment for flagged records; sample: Workflow “If suspicious, assign compliance task”.
3.17. Sumo Logic
• Feature/Setting: Automated log monitoring & alerting; sample: Scheduled Search → Alert.
3.18. Dropbox
• Feature/Setting: Automated upload of flagged reports; sample: API “flagged_activity_report.pdf” to compliance folder.
3.19. PagerDuty
• Feature/Setting: Automated incident escalation; sample: Events API trigger “suspect_flag”.
3.20. DocuSign
• Feature/Setting: Automate compliance signing flow for flagged cases; sample: Template “Suspicious Activity Signed Review”.
Benefits
4.2. Automated documentation for audit, improving traceability and regulatory confidence.
4.3. Automator workflows enable scalable and automatable compliance regardless of transaction volume.
4.4. Automated escalation ensures rapid response, helping automatedly stay ahead of risk.
4.5. Automation reduces operation costs and lets teams automate focus on analysis and response, not routine flagging.