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AML Software Improves Compliance Decisions

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 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.


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

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

Matthias Schmedt auf der Günne

Director and Head of Compliance, apoBank (Germany)


Discover the AML Software Module in the ACTICO Compliance Suite

The ACTICO Compliance Suite is a software solution comprising several modules. The AML KYC module monitors the data of persons, business relationships and payments automatically and reports conspicuous processes.

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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 software is on point. This is a crucial must for anti-money laundering teams.

Modern user interface (GUI)

A clear dashboard and work lists for structured work.

Delivering basic AML and KYC scenarios

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

On-premise or cloud operation

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

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.

Standardisation of AML software

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

AML KYC solutions for companies from the financial sector

Banks and Insurers Have Differing Requirements When It Comes to an AML Application

Financial sector companies must comply with AML requirements. However, their requirements differ depending on the bank type, size, internationality and industry.

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Major Banks, Retail and Universal Banks

Banks with numerous customers and transactions need a high-performing AML application, 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 application 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, PEP lists and other blacklists. Insurers have massive amounts of data from their customers
and other 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. That lets compliance officers focus on the truly relevant cases.

Further Resources

AI-powered AML Software

Compliance and IT managers see AI as having great potential to reduce the number of false positives generated and minimise the manual effort required.

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Success story
AI-powered Customer Screening Software

AML and KYC require sanctions and PEP list checks. AI paves the way for further savings.

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Blog Post
Insurance Companies Strive to Further Streamline Money Laundering Prevention

To prevent money laundering in the insurance industry, analysing insurance policies and customer data for any unusual activity is a must. AI-powered software can help.

Read Blog Post


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