Regardless of size and complexity, each financial institution must have effective aml risk management and aml financial compliance programs appropriately designed to its products, services and customers.
Over the last 10 years there has been an increasing emphasis on aml financial compliance.
Several global banks have been subjected to various types of civil and criminal penalties and had to substantially enhance of their aml finance and kyc bank programs.
For this reason many banks are investing in new aml processes and online kyc systems to more efficiently and effectively manage aml banking risk.
Financial Institutions are subject to customer due diligence (CDD) obligations and must implement all of the following aml finance preventive measures: remote identification, kyc bank, aml banking, finance aml verification, bank aml risk assessment, record keeping, aml training, and suspicious transaction reporting.
A bank account, a trading account or a payment account may not be opened prior to completion of AML/CFT Customer Due Diligence procedures and no transactions may to be carried out through the account until the anti-money laundering identification and verification procedures have been satisfactorily completed.
In those situations where it is not possible to identify and verify the identity of the customer and beneficial owner, the financial institution has to release the funds to the customer using the same financial channels through which they were delivered.
Financial Institutions have to be able to identify and verify the customer and to monitor the financial transactions and to identify suspicious activity.
AMLEXA is the first Artificial Intelligence Platform for “Distance Customer Due Diligence” and “Remote Online KYC (Know Your Customer)”, that automates all the processes of Remote Identification, AML Verification, AML Risk Assessment and AML Transaction Monitoring for credit and financial sectors.
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AMLEXA is a web aml compliance software for aml finance, easily customizable and integrable with API into any system with a minimum configuration, consisting of four modules:
AMLEXA AML IDENTIFICATION MODULE
MODULE FOR AML FINANCE AND AML BANKING
“Amlexa AML Identification Module” for aml financial and aml bank is an aml onboarding, kyc banking and id verification software that assures: non face to face customer identification, automated kyc and online identity verification for credit and financial sector using a patented authentication technology that compares the data contained in the government issued identity document with biometric recognition of the customer’s face (Biometric Identification).
The “Amlexa AML Identification Module” for kyc finance and kyc banking automatically collects information and data online from the customer and performs specific forensic tests to verify and confirm the ID validity and the customer identity.
AMLEXA AML VERIFICATION MODULE
MODULE FOR AML FINANCIAL AND AML BANK
“Amlexa AML Verification Module” for financial aml and bank aml is an aml verification software for credit and financial sector, which guarantees automatic aml checks, pep checks and real time aml bank validation.
“Amlexa AML Verification Module” for kyc financial, kyc banking automatically verifies the presence of the customer in Politically Exposed Person List (Peps List), Sanction Lists, Aml Watchlist and Aml Blacklist and confirms, through independent and reliable sources, the validity of personal data, information and documentation collected by the customer.
“Amlexa AML Verification Module” for aml banking and aml finance automatically prepares the anti money laundering declaration form (aml declaration form) and allows the customer to sign it with an advanced electronic signature.
AMLEXA AML RISK ASSESSMENT MODULE
MODULE FOR AML FINANCE AND AML BANKING
“Amlexa AML Risk Assessment Module” for finance aml and bank aml is an aml software for credit and financial sector that assures an automated money laundering risk assessment and real time AML Risk Management.
The “Amlexa AML Risk Assessment Module”for financial aml uses a patented artificial intelligence algorithm that take into account the aml risk, the customer risk, transactions risk, the product or service risk, the interface risk and the geographical risk.
Amlexa Artificial Intelligence Algorithm automatically recognizes the suspicious behavior and provides a real time aml risk assessment which permits to determine whether to accept or refuse the business relationship or the occasional transaction.
AMLEXA AML TRANSACTION MONITORING
MODULE FOR AML FINANCIAL AND AML BANK
“Amlexa AML Transaction Monitoring Module” for aml finance and aml banking is an aml screening software that assures an automated aml monitoring of the customer aml Risk for credit and financial sector.
“Amlexa AML Transaction Monitoring Module” for banks aml and financial aml uses a patented artificial intelligence algorithm that scrutinizes all the bank transactions undertaken throughout the course of business relationship or occasional transaction to ensure that they are consistent with the knowledge of the customer and his aml risk profile.
Amlexa Artificial Intelligence Algorithm checks if the financial transactions are in keeping with what it knows or expects from the customer and depending on the extent of the divergence noted, automatically collects more information and documentation and reconsiders the initial aml risk assessment assigning automatically a new aml risk profile to the customer.
AMLEXA MLRO BACK OFFICE SERVICES
AML BACK OFFICE FOR FINANCIAL AML AND BANKING AML
The Amlexa MLRO Back Office Service, for aml finance and aml banking, reports any suspected instance of money laundering or financing terrorism and investigates and determines if the information available can be considered as sufficient to notify the result in an internal report to the Money Laundering Reporting Officer (MLRO).