(February 2nd, 2022) – Velocity FinCrime solution suite to provide FinCrime solutions to enhance the transaction monitoring and fraud detection mechanism.

With the increasing use of technology and digital transactions, there comes a high risk of fraud. Financial institutions need to stay alert and are required to monitor, investigate, and report any suspicious transactions to the regulatory authorities. Velocity acts as a shield against all fraudulent activities.

SuperChoice by the adoption of  Velocity FinCrime solution suite is all set to strengthen its digital transaction monitoring efforts against AML compliance and fraud.

‘The evolution of digital transactions, and the sheer volume being made in near real-time, has meant the detection and prevention of fraud as close to the transaction time as possible is crucial. We partnered with proven experts in this space to give a greater level of fraud detection for our clients.” says Andrew Callus, Chief Product Officer, SuperChoice.

Velocity Transaction and Behavior Monitoring System is a highly flexible solution, specifically designed to meet the regulatory standards with ease. It is super convenient to use and helps to detect and provide alerts to the regulatory authorities.

About Velocity

Velocity FinCrime solution suite is a powerful and scalable set of modules designed specifically for financial institutions to comply with AML (Anti-money laundering), BSA (Bank Secrecy Act), and FATCA regulations with ease and simplicity. The solution is built using AI (Artificial Intelligence), ML (Machine Learning), and Big Data capabilities, which helps to reduce risk and improve efficiency.

Velocity is designed to meet international regulatory compliance accurately and consistently. Each module is highly scalable and offers seamless integration, which helps the management to improve efficiency and productivity.

About SuperChoice

SuperChoice is Australia’s original FinTech Company and a leader in reg tech, founded in 1996. It provides superannuation clearinghouse and digital transaction solution services, including single touch payroll, to the Super Funds, Payroll Software Providers, and Employers.

SuperChoice is privately owned by Potentia Capital and the CPS group. They provide solutions that are focused on making things simpler, easier, and streamlined for everyone within the superannuation ecosystem.