Avaloq Software Combined with ACTICO Compliance Suite: A Step Forward for Compliance
More and more of Avaloq’s clients are enjoying the benefits of an all-in-one compliance offering and using standardized solutions to combat financial fraud.
Avaloq Standard Adapter
Compliance Suite for Avaloq Core Banking System
Avaloq is a global leader in banking software, services and digital technology. And now, thanks to the partnership between Avaloq and ACTICO, Avaloq’s clients can benefit from using the compliance offering as a standardized solution to combat money laundering and financial crime.
Why it’s Easy for Avaloq’s Clients to Use the New Compliance Offering as a Standardized Solution to Prevent Financial Crime:
- All financial institutions with an Avaloq core banking system can now integrate it fully with the ACTICO Compliance Suite.
- The Avaloq Standard Adapter manages all relevant compliance analyses.
Key Features
The ACTICO Compliance Suite is an application that uses machine learning methods and offers multiple compliance functionalities for banks and financial services providers:
Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF)
The ACTICO Money Laundering Detection System (MLDS) detects unusual behaviour patterns and money laundering anomalies in payment transactions. It helps banks to carry out the risk assessment of customer relationships.
Customer Due Diligence (CDD) and Know Your Customer (KYC)
Continuous monitoring of KYC profiles and risks to meet customer due diligence requirements based on KYC profiling, risk classification, beneficial ownership, integrated checks in the onboarding process.
Payment Screening – Know Your Transaction (KYT)
The ACTICO NMT module checks incoming and outgoing payments before they are posted. This involves checking payments against sanctions list data such as BIC, countries and recipients. Unusual transactions are reviewed or stopped before execution.
Customer screening and PEP checks
ACTICO’s NMT module automatically compares new and existing clients against checklists. Regular checks ensure that banks recognize high-risk individuals in their database and identify politically exposed persons (PEPs).
Prevention of market manipulation
The automatic monitoring of ACTICO’s MAID module checks the securities orders against scenarios that indicate market abuse, breaches of rules or insider trading.
Detection of fraud and other criminal acts
The software checks persons, transactions and securities orders using predefined compliance rules. Based on these rule sets, the Compliance Suite automatically decides whether a compliance risk exists.
Benefits
Avaloq Standard Adapter
Support from Machine Learning
Dealing with Regulatory Changes
"Our partnership illustrates the importance Avaloq attaches to the basic principle of an open platform architecture. It enables us to quickly add innovative external solutions to our own range of products and services in order to provide our banking clients with the best possible offering at all times."
Martin Greweldinger, Co-CEO, Avaloq
Find out more
Brochure: Supporting Compliance with Machine Learning
ACTICO Compliance Suite is a software solution that makes it possible to detect compliance risks using machine learning technology.
Download brochureWhitepaper: Compliance and Machine Learning
Why successful banks and insurance companies now rely on machine learning when it comes to compliance.
Download whitepaperPress Release: Avaloq and ACTICO expand strategic partnership
Connection between Avaloq Software and ACTICO Compliance Suite offers innovative compliance solution, based on machine learning.
See press release