AML, Sanctions & CDD Solution | A Product Guide

 

This suite of products takes care of financial crime compliance through the customer life cycle. What’s so special about it? Learn how Effiya has helped Financial Institutions easily comply with AML guidelines, with sanctions screening software and anti-money laundering analytics.

 

Effiya is an AI and ML based product company, that has attempted to improve the performance of compliance, by making their operations efficient and effective. This was achieved through the reduction of false positives, and wastage of manual work hours, in financial crimes compliance.

Its best-in-class patented technology delivers significant improvements in terms of false positives.   If you don’t want you don’t need to replace your existing systems, Effiya solution comes as a plug-in. It’s a no-code platform where you can do all customizations through a user interface, and save money on reducing the efforts of programming professionals. Improve the performance of compliance, by making their operations efficient and effective.

 

Sanctions Monitoring

Customer details are entered and the solution is looking for the matches. Result comes in milliseconds. Smart Effiya’s Sanctions catches a true match in 100 percent of the cases, and in the same time false positive matches are significantly eliminated.

Test results decisively prove that our false positive rates are at approximately 25%, whereas competitors leaders are left behind with 40%. Not only it works on Middle Eastern names, but on multiple ethnicities, and hence it can be used globally.

Test results decisively prove that our false positive rates are at approximately 25%, whereas  competitors are left behind with 40%.

 

Customer Due Diligence

CDD is another module that helps you score your incoming customers. You can configure expert based score-cards or deploy machine learning-driven ones. In either case, the process will be seamlessly integrated with your existing systems, for automated scoring.

If the customer ends up being high-risk the RM will be notified, and the case will be automatically created in the investigation studio, for enhanced due diligence. Workflow and outcome of enhanced due diligence are available for centralized team, to investigate and take decision on the customer. Here all necessary customer information is readily available, to accelerate your investigation; and everything you see can be customized for your needs through a user interface.

 

Transaction Monitoring

Most likely you already have a rule-based system, that generates alerts for suspicious transactions. And you know what a time-consuming thing it is to write the codes, for new scenarios and do their threshold fine-tuning. Here in Effiya solution you can set it all up through a user interface, without a need for programming.

Another headache in Transaction Monitoring is the huge volume of False Positives. Effiya’s ML models segregate the alerts into high, medium and low risk; and you can focus on investigating the risky transactions, while quickly closing the low-risk ones. Transaction behavior related variables are also automated. It reduces total investigation time by months every year.

 

Alert Score-card

Effiya’s ML models segregate the alerts into high, medium and low risk; and you can focus on investigating the risky transactions, while quickly closing the low-risk ones.

 

Reporting

Reports for the stakeholders are generated without any human intervention, on an ongoing basis. Choose any platform you want – Power BI, Tableau etc., and even the SAR filing can be automated for the regulatory compliance.

 

i-Console

Additional module helps you assign roles and permissions to your employees. You can quickly assign who can see and modify what. All the modules come with IT security layer.

 

Effiya Compliance Suite is dedicated to help you reduce your costs; and make your organization more efficient, saving time and money. At Effiya, we strive to apply our learnings on machine learning and years of experience to create business applications that can help the organizations in optimizing their business operations, bring them closer to their customers and bring in automation benefits by robotizing business process.

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