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ACTICO Compliance Solutions

AML KYC in finance and insurance — Precision in detecting compliance risks

Comply with anti-money laundering laws, screen high-risk individuals, PEPS and transactions, detect money laundering and terrorist financing

 

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ACTICO client HCOB
ACTICO client Bayern LB
ACTICO client VP Bank
ACTICO client LGT
ACTICO client apobank
ACTICO client KFW
ACTICO client KFW IPEX Bank

Make AML KYC decisions automatically

Rely on automated decisions — before money laundering risks escalate.

Anti-money Laundering (AML) describes processes that need to be in place to comply with regulatory obligations. AML is intended to ensure that money laundering is identified and prevented. AML refers to all efforts involved in preventing money laundering, such as stopping criminals from becoming customers and monitoring transactions for suspicious activity. KYC falls under the larger umbrella term of AML. It refers to customer identification and screening.

AML Compliance Software including KYC and transaction monitoring with artificial Intelligence

An AML software helps companies largely automate their anti-money laundering measures and the rules within the software typically determine whether a money laundering risk exists. Artificial intelligence (AI) methods are increasingly coming into play. Machine learning plays to its strengths, particularly in the areas of AML, KYC, and transaction monitoring. The technology uses data from money laundering cases previously resolved to identify future cases more accurately and avoid false positives.

See how KfW Group is automating KYC and onboarding processes

Key components of an AML compliance programme

Customer risk classification for the AML-KYC process

Factors like transaction behaviour, customer category or PEP property all determine the risk of a business relationship. The risk classification is a fixed component of the anti-money laundering and KYC process.

KYC: Customer identification & monitoring

Anti-money laundering laws require customers to be identified and monitored in line with the KYC principle. The KYC check is a core component of AML, which consists of establishing the customer’s identity and verifying the origin of assets and business behaviour.

Customer screening against sanctions-, PEP- and adverse media lists

During onboarding, all new client data must be cross-checked with sanctions, PEP and adverse media lists so that companies can check whether the client base includes any at-risk individuals or PEPs. Monitoring is ongoing, usually even daily, throughout the business relationship.

AML transaction monitoring

When monitoring payments, the AML transaction software is tasked with determining whether payments are anomalous in any way, for example transfers for unusual amounts, pass-through transactions and/or payments linked to sanctioned banks. Any anomaly must be clarified by the money laundering officer.

The verdict of our customers

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The ACTICO Compliance Software gives us the benefit of numerous business rules that come as standard and the system is extremely flexible.

Matthias Schmedt auf der Günne

Head of the Compliance project, apoBank (Germany)

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What can we do for you?

AML Software for banks and insurers

Anti-money laundering officers can only perform their duties with the fine accuracy required when their AML KYC software is on point. This is a crucial must for anti-money laundering teams.

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Modern user interface (GUI)

A clear dashboard and work lists for structured work.

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Delivering basic AML and KYC scenarios

A basic set of rules in the AML KYC software reduces the customising effort.

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On-premise or cloud operation

More and more companies are cloudifying their applications and need cloud-enabled AML KYC software.

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Artificial intelligence

As an AI component, machine learning is a tried and tested complement to rule-based AML KYC systems and particularly successful in reducing false positives.

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Standardisation of AML KYC software

High-level standardisation is important to quickly implement security updates or new releases.

Discover the AML software component in ACTICO Compliance Solutions

ACTICO Compliance Solutions is a software package comprising several components. The AML KYC module monitors the data of persons, business relationships and payments automatically and reports conspicuous activities.

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AML and KYC solutions tailored to banks and insurers

AML rules apply to all — But not all are alike

While all financial and insurance companies are subject to AML obligations, their compliance requirements vary — depending on their business model, size, cross-border activities, and regulatory environment.

Major banks, retail and universal banks

Banks with numerous customers and transactions need a high-performing AML software, which can also cope with peak periods, e.g. the turn of the year.

Private banks, mortgage banks, special financiers

Clients of these banks often have complex asset or financing structures. Here, it is important for the AML software to be able to map complexity in the rules and adapt the rules as required or add new rules at any time.

Insurance companies

Insurers face the daily challenge of having to check their customer data against sanctions and PEP lists. They have massive amounts of data from their customers and contractual partners, such as damage filers and other claimants. With high volumes of data, it is particularly important to reduces false positives to a minimum.

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Recognised throughout the industry.

For many years, ACTICO has been recognised by customers and analysts as a leading provider of Advanced Decision Automation Technology and solutions for Compliance and Credit Risk Management.

ACTICO Award logo Forrester
ACTICO Award logo Gartner
ACTICO Award RegTech100
ACTICO Award FinCrime50

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