Management of conflicting interests MCI
Automated Identification of Conflicts of Interests
Conflicts of interest can occur due to the often diverse activities in the company and must be properly identified and resolved. In order to identify and fix conflicts of interest, an institution shall maintain and operate effective organizational precautions. When a juncture of potentially opposing interests cannot be averted, measures to avoid an actual conflict of interest should be taken. Our compliance module Management of Conflicting Interests (MCI) helps you more confidently recognize actual or potential conflicting interests with greater sophistication than manual methods or simple checklists. In addition, it ensures complete documentation of identified conflicting interests and tracks measures taken.
User-defined Types of Circumstances
The basis for identifying potential conflicts of interest with MCI is a detailed accounting of relevant activities, as well as the cicumstances within the bank. The MCI solution is designed so that types of circumstances can be flexibly defined by the system configuration and be made available.
Transfer into Internal Case Management
The matches scored by the system are automatically transferred into the internal case management and appear on the compliance officer’s worklist for clarification. Thus, the Compliance Officer focuses on evaluating the potential conflict and on the measures to be taken.
Intelligent Testing based on ACTICO Rules
The ACTICO Rules software technology and the use of the detailed information about the particular circumstances allow for an intelligent examination. At the same time, the intuitive graphical technology ensures high flexibility and adaptability of rules.
Issues that are relevant to
conflicts of interest can be manually recorded in MCI or or
automatically imported. Examples include: personal details, fact and
type parameters, and time periods or descriptions of facts.
The classification process of conflicts of interest is supported through workflows.
All inputs and changes within the framework of case processing, as well as the preceding data collection of circumstances, are automatically logged and auditable.
"We rely on ACTICO software to prevent money laundering and terrorist financing."
Initially, all existing information in the system is compared against each other. After that, only new or changed information is taken into account for further comparison.
MCI enables you to comply with requirements in regards to traceability, defined measures, implementation, and regular monitoring and updating.
MCI can be seamlessly integrated with other modules of our Compliance Suite and can then there be used via a standardized user interface.
Companies use our software and expertise in compliance to monitor facts that can indicate conflicts of interest. From a bank's perspective a conflict of interest can result in prohibited or undesired transaction behavior. Based on our ACTICO Rules technology, Management of Conflicting Interests enables banks and financial service providers to automate the search for potential conflicts of interest.