support@velocity.com

How does the module work?

Input
  • Customer and KYC Data
  • SWIFT Messages
Process
  • Data Quality Remediation
  • Out-of-the-Box Rules Library
  • Profiling and Detection Engine
  • Rules, Parameters, and Score Management
Output
  • STR/SAR
  • Alerts/Cases
  • Dashboards and Reports
Reduce False Positives Using Big Data and Machine Learning
  • Designed to meet strict regulatory standards with ease
  • Generating false positives wastes time, money, and resources
  • Driven by a robust rules engine and machine learning capabilities
  • Highly flexible and includes an expansive library of out-of-the-box rules
  • Straightforward process for detecting, alerting, scoring, and reporting to regulatory authorities
  • Accurate and predictable transaction monitoring and behavioral pattern detection which is key to combating money laundering and terrorist financing activities and is a critical regulatory requirement
  • Our Machine learning algorithms can adapt to changing patterns of fraudulent activity, identifying new and emerging threats.
  • Timely filing of SARs, STRs, and CTRs within due dates and also displaying how institutions’ risk-based approach, rule parameters, and investigative process complies with regulatory requirements
  • Automated machine learning algorithms can reduce the cost of transaction monitoring by reducing the need for manual review and increasing the efficiency of compliance processes.
Configurable (clone, edit, update) out-of-box rules powered by Big Data and Machine Learning.
Entity Resolution to reduce false positives.
Country Resolution to optimize ‘High Risk Jurisdiction’ monitoring alerts.
Robust alert management.
Native SWIFT message integration.
Visualize transactions and flow of funds.
Integrated automated SAR filing.
Built-in data cleansing utilities.
Data reconciliation capabilities.

Your search for the perfect AML software
ends with Velocity

Scalable
The traditional monitoring systems are not easily scalable to scan millions of transactions and accounts. They produce several false positives, which increases the work of the team to manually process the paperwork and uncover the risk. Velocity’s Transaction and Behavior Monitoring System is scalable and can scan large sets of data and generate highly accurate reports.
Reduces financial crimes
Money laundering increases the risk of damage to the financial sector and has adverse effects on the economy too as it involves the movement of corrupt funds. Velocity’s Transaction and Behavior Monitoring System helps to detect the risk and fraudulent transactions using advanced analytics.
Automates time consuming and costly manual processes
The manual process of monitoring and screening is extremely time-consuming and also has huge information gaps. Velocity’s Transaction and Behavior Monitoring System can save a lot of time and cost, and provide detailed insights quickly.

Advanced software to detect suspicious activities

Velocity’s Transaction and Behavior Monitoring uses advanced techniques such as Machine learning and Artificial Intelligence to spot suspicious patterns and activities that the preset rules might miss. These advanced techniques can analyse unstructured data, detect changes in customer behaviour and perform semantic analysis on flagged activities thus reducing the number of false positives. With a powerful AML transaction monitoring software like Velocity, your compliance teams will have reliable data on flagged transactions which will make case management easier and reduce operational costs.

Improve context-based money laundering detection with Velocity

Velocity’s TBMS lets you manage the complexity in transactions by providing context and protecting businesses from money laundering by early risk detection.

Collect customer and transaction data from internal and external sources to provide a holistic view.

Check out the transaction relationships and uncover the meaning behind each transaction to understand where they sit in the supply chain.

Identify suspicious activities prior to their occurrence and mitigate risks at their inception rather than at a later stage using advanced technology.

FAQs

How can Velocity AML transaction monitoring software help businesses comply with regulatory requirements?

Velocity’s transaction and behavior monitoring software is designed to comply with the regulatory requirements with ease, by simply automating transaction monitoring, applying rule-based scenarios, adopting a risk-based approach, providing comprehensive reporting, and integrating with existing systems.

With the help of AI and ML capabilities, the software helps to monitor and detect suspicious activities, streamline compliance efforts, and generate reports. The advanced TBMS software helps to manage the complexity of the transactions by detecting risks and protecting businesses against money laundering.