One of the dominant challenges of building, running, and maintaining an effective Transaction Monitoring system is being able to “find the signal in the noise”. Systems once put in place with the right detection scenarios, and that conform to the regulatory requirements need to be continuously monitored and regularly tuned. The data is complex, the workflows are detailed, and it necessitates significant human intervention. The result is that the cost of compliance is increasing by as much as 50% annually, a significant detriment on the bottom line.
ComplyGenics helps clients effectively deal with these complex challenges.
ComplyGenics’s FCC/KYC Operating Models & IT Capabilities
Working with ComplyGenics, you get expert system management –
Develop your Financial Crimes Unit target operating model and roll-out plan
Implement the target operating model
Design a customer risk rating system and transaction monitoring scenario management processes that stay ahead of the curve
Receive regulatory and technological support for client screening at onboarding, transaction screening, and sanction transformation
ComplyGenics team’s extensive experience allows us to apply sophisticated AI techniques to the mission-critical FCC regulatory function, dramatically improving efficiency while simultaneously reducing regulatory exposure. When you work with us, you also get exceptional transparency on how the solution operates. We also ensure knowledge transfer on critical details to investigators, regulators, and law enforcement.
ComplyGenics helps financial institutions leverage the power of AI and machine learning applications to keep them smart, agile, and responsive to rapidly changing demands. Our machine learning technology will help you stay in front of your next best customer, on top of their liquidity positions, and out ahead of the next fraud or cyber-attack.
Today financial institutions need to see events as they are happening within their transactional data—across the business and in every detail so that they can react and mitigate financial and reputational risks immediately.
Our expertise helps make your alerts more accurate and false positives rare. It gives your investigators valuable context, so they can focus on what matters most: genuinely suspicious behavior.
We work with our clients to track customers’ actual behavior, monitoring changes over time, and spotting emerging patterns that signal potential problems. We deliver every insight with a fully transparent audit trail, to set your mind at ease, and preserve your status with regulators.
The false-positive problem in FCC is primarily a function of poor segmentation of the input data. Even sophisticated financial services institutions using machine learning for detecting FCC can suffer from low accuracy and high false negatives. This is because other machine learning techniques analyze data in large groups and cannot get specific enough to segment out true suspicious behavior (segmentation). Our intelligent segmentation can help you better manage your customer segmentation.
We analyze customer transactions daily and automatically generate lists of customers showing changes in behavior over time, such as:
The customer’s behavior deviation over time, based on specified thresholds
The changes in a customer’s behavior compared to their peers in their segment
The movement of a customer to a different segment and the reason for it
The deviation in customer behavior compared to the information provided during KYC