Compliance, Risk & Audit AutomationPurpose
1.2. Enable automated detection and flagging of suspicious activity, threshold breaches, and anomalous behaviors.
1.3. Integrate and automate AML checks within compliance, audit, and risk management pipelines, reducing manual oversight.
1.4. Continuously screen transactions against real-time data sources (PEP, sanctions lists, adverse media) for regulatory adherence.
1.5. Automatically generate and route audit-ready compliance reports of AML outcomes.
Trigger Conditions
2.2. Transaction volume or size threshold exceeded, triggering automated compliance workflow.
2.3. Incoming KYC/AML API callback indicating a potential risk flag.
2.4. Scheduled batch automation: periodic (e.g., hourly/daily) review of all transactions for red flags.
2.5. Suspicious activity automation triggers based on custom risk-scoring models.
Platform Variants
- Feature/Setting: /transactions endpoint automates screening; configure with riskRuleSet:{"AML_AUTO"} for transaction-level AML automation.
3.2. ComplyAdvantage
- Feature/Setting: /v1/transactions/monitor automates transaction monitoring; set rules to automatedly scan against global watchlists.
3.3. Jumio
- Feature/Setting: KYX Platform API with ongoing AML transaction monitor toggle ON for continuous screening automation.
3.4. LexisNexis Bridger Insight XG
- Feature/Setting: Schedule automated batch transaction scans with set criteria/rule triggers.
3.5. Actimize (Nice)
- Feature/Setting: Automated orchestration via Suspicious Activity Monitoring API, with event hooks for real-time transaction ingestion.
3.6. Fenergo
- Feature/Setting: Automated workflow engine for AML checks at transaction touchpoints; configure "Ongoing AML Transaction" policy node.
3.7. Acuris Risk Intelligence
- Feature/Setting: Transaction Monitor API with list ID/transaction values auto-submission routines.
3.8. SymphonyAI Sensa
- Feature/Setting: Real-time AML Automation triggers via "TransactionFeed" stream integration; configure suspicious activity pattern workflows.
3.9. Oracle Financial Services Analytical Applications (OFSAA)
- Feature/Setting: Automated trigger configuration in AML Detection module; enable "Continuous Transaction Surveillance" rule.
3.10. FICO TONBELLER
- Feature/Setting: Batch Transaction Monitoring API automates data ingestion and rule-based alert creation.
3.11. World-Check One (Refinitiv)
- Feature/Setting: Transaction Screening API, automating periodic re-screening via subscription rules.
3.12. Amlify
- Feature/Setting: Transaction Monitoring as microservice, automate trigger on investment account movement via webhook.
3.13. IdentityMind
- Feature/Setting: Transaction Monitoring API, automate rule set for ongoing behavioral analysis.
3.14. Pega KYC and AML
- Feature/Setting: Stream automation with Transaction Review micro-flows; configure to auto-escalate red flags.
3.15. Trapets InstantWatch
- Feature/Setting: Rule-based automated alert creation for incoming transactions by configurable thresholds.
3.16. SAS AML
- Feature/Setting: Automated batch loader, set to run scheduled compliance workflows for real-time screening.
3.17. Acuant
- Feature/Setting: API endpoint for continual monitoring; configure with “Enable Ongoing AML Transaction Scan” parameter.
3.18. NorthRow
- Feature/Setting: Transaction Monitoring API integrates with data streams for automated compliance validation.
3.19. Lucinity
- Feature/Setting: Detection Microservices, automate custom rule ingestion for new transactions.
3.20. AML Partners RegTech One
- Feature/Setting: "Continuous Monitoring" automation rules, triggers screening on every investment transaction event.
3.21. Chainalysis (for crypto investment services)
- Feature/Setting: Automated Transaction Monitoring API, configure to monitor addresses and cross-platform flows for anomaly automation.
3.22. SURECOMP
- Feature/Setting: Automated compliance processors for all transaction events; enable auto-alerts on suspicious activity.
Benefits
4.2. Accelerates compliance by automating red-flag identification and escalating real risks.
4.3. Enables scalable automated monitoring even with rapidly growing transaction volumes.
4.4. Automatedly ensures ongoing adherence to regulatory obligations with audit trail generation.
4.5. Continuous automation minimizes risk of non-compliance penalties and reputational damage.
4.6. Automating notifications and escalations ensures immediate action on high-risk findings.
4.7. Automated detection and reporting make regulatory audits quicker and more accurate.
4.8. Allow auditors and compliance teams to focus on investigation and resolution, not repetitive checks.
4.9. Automation allows configuration of granular, customizable risk triggers fitting specific business rules.
4.10. Increased agility by automating updates in compliance frameworks as regulations evolve.