Anti Money Laundering and Fraud Detection Solution

Overview

KASTLE Universal Lending 3i Infotech’s Financial Crime Detection and Management Solution (AMLOCK – FCDMS) is an integrated web-based Anti-Money Laundering and Financial Crime detection and management solution to suit the requirements of Banks and Financial institutions.

The solution is compliant with KYC, Transaction Monitoring and Suspicious / Regulatory Reporting of the AML framework and assists the institution in detecting and managing suspicious transactions.

Over 80 Customers Worldwide

80+ Amlock Anti Money Laundering

Product and Modules

AMLOCK – FCDMS encompasses the following components: KYC Policies (includes List Screening against EU, UN, OFAC watchlists), Transaction Monitoring – Identify Suspicious Activity based on AML rules & Regulatory guidelines, Case Management and Others.

KYC & Risk Assessment Transaction Monitoring
  • Customer Onboarding Workflow
  • Customer Registration / Payments Screening (OFAC, UN, PEP, Internal Watchlists)
  • Adhoc & Periodic Screening
  • KYC Account Review
  • KYC Gap Report
  • Customer Risk Classification
  • De-duplication – duplicate/hidden accounts
  • Risk Over Ride/ Risk Dashboard
  • Risk Assessment Reports
  • Comprehensive Alert Library (Parametrizable)
  • Rule Builder
  • Rule Benchmarking (Simulation)
  • Block/ Approve Payment
  • Customer Behavior Profiling
Case Management Reporting, Analytics & Security
  • Comprehensive Case Management
  • Alerts Assignment
  • Multiple Case – Single Action
  • Maker Checker workflow
  • Graphical Link Analysis
  • False Positive Management
  • Add customers to Good/Bad Lists
  • Email notifications
  • Comprehensive Reports
  • Reports in multiple formats
  • Report Builder
  • Easy to use User Interface
  • Password Management Rules
  • Audit Trail
  • LDAP authentication
  • Comprehensive and end-to-end AML Solution
  • A host of value added and rich features and functionalities:
  • Library of 120+ AML alerts and 50+ Fraud Monitoring alerts
  • Profile linked alerts
  • Rule Builder and Report Builder options
  • Alert Benchmarking and Back Testing
  • Graphical Link Analysis
  • Charting and Analytics
  • FATCA Compliance
  • Comprehensive Workflow Management
  • Regulatory Reporting and other report / MIS options

System Architecture

Scalability

  • J2EE compliant application, clustered to achieve high scalability.
  • Tuned to handle large volumes of data.

Flexibility

  • Browser based application developed using Java
  • Runs on any standard J2EE Application Servers
  • Supports Oracle 10g / 11g as RDBMS.
  • The presentation runs on Java Server Pages
  • Web-based system, users can access the through a browser.
  • Comprehensive Audit Log

Domain Strengths

  • 1st vendor in SA to offer AML solution in 2003. 10+ years of AML Transaction Monitoring Experience
  • 100+ implementations across Geos – SA, APAC, Middle East & Africa, Western Europe
  • Supported by Certified Domain Experts – CAMS (AML) & CFE (Fraud) certified. Knowledge sharing includes Fortnightly AML Newsletter, Whitepapers
  • Listed as key AML vendor from 3rd party evaluators – Chartis Research, Celent, SAS AML vendor’s industry reports. Award winning product – NASSCOM
  • Solution is compliant with AML regulations in 25 countries and global regulations – FATF, US Patriot Act, EU 3rd Directive
  • Extensive Implementation experience with 20+ Core banking systems – Finacle, Flexcube, Bancs, MISYS etc
  • Center of Excellence in Hyderabad, India with 60+ member team
  • Supports AML compliance for multi-segments (Banking, Insurance, Securities)
  • Supports Multi country implementation and multi lingual support
  • Flexible to deploy Hosted/ Multi-Tenant/ Independent models

Technical Strengths

  • Single solution to handle both AML & Fraud – with modular framework to suit bank specific requirements
  • Demonstrated scalability to handle large volumes – Biggest Banks in India are using the solution
  • Supports Real time/ Near Real Time/ Batch Monitoring
  • Customer Profiling Engine to build profiles for customers and entities based on multiple parameters – average value, volume, time, channels (ATM, e-banking, SWIFT), branches, merchants, agents, countries, transaction type (cash/clearing) etc.
  • Rule and Report Builder for user configurable alerts and reports
  • Flexibility in managing multiple related alerts in a single case using the comprehensive case manager
  • Combination of Profile deviations and Rules to identify suspicious transactions
  • Visual benchmarking tool to provide what if analysis for number of alerts raised based on user defined conditions.
  • Data Enrichment module to add additional fields missing in source systems for AML Monitoring
  • Graphical Link Analysis module to identify static and transactional links between entities
  • Customer On-boarding & KYC Risk Assessment Module and workflow for pre-open account verification
  • Comprehensive set of Compliance, Transaction, Risk Assessment & MIS reports
  • Advanced Charting & Analytics – Case & Risk Dashboard for management
  • Comprehensive Library of 150+ AML alerts (including IBA alerts) and 50+ Fraud Scenarios
  • Fraud scenarios cover Identity/ Loan/ Deposit/ Channel/ Employee/ Card Scenarios
  • Comprehensive AML programme implementation – from KYC to transaction monitoring to regulatory reporting.
  • Fraud monitoring and FATCA compliance options within the same framework.

Industries We Serve