Our Industries

Banking & Financial Institutions

Banks and financial services providers face an increasingly dynamic and challenging environment, which demands innovative approaches to reducing costs, preserving capital, and boosting their profit.

The rapid increase in regulatory and compliance initiatives are heightening the complexity of operating successfully in this industry, as adhering to global regulations and protecting reputation have become of the utmost importance to remain competitive.

Challenges in the industry

Financial services have to become closer to their users

Knowing your customers is the cornerstone of legitimate and reputable banking and financial services provision, however, it is hard to monitor all customer information manually without overwhelming operations.

It is also unfeasible to expect staff to track and recognise out-of-the-norm behaviour by manually observing thousands of transactions logged on your online platforms hourly or daily. Apart from the security and compliance issues, relying on manual methods of detection fail to detect customer trends and behaviour patterns that expose risk or alternatively inspire continued business growth.

Without support from smart, automated compliance systems, banking operators and financial providers often have to perform AML and affordability checks on false positives, which can be costly and wastes precious resources.

Having a less than optimal compliance strategy may result in hefty fines, as well as reputational damage, and potential blacklisting across key markets and jurisdictions.

Partnering with ComplyRadar

Understand your customers better and avoid risky transactions

ComplyRadar’s platform automates the processes needed to ensure a top-notch standard of regulatory compliance for any internet bank or provider of online financial services.

Our system is capable of monitoring up to thousands of transactions per minute in real-time, using advanced statistical algorithms powered by AI to understand user activity, flag suspicious behaviour, and intelligently sorts transactions by risk level for better visibility.

With the sandbox testing environment, users can develop custom rules and results through an intuitive rule designer. The platform also integrates with various third-party data tools such as PEP screening and electronic identity verification services.

Among other great features, ComplyRadar enables users to easily collaborate with regulatory and compliance partners by enabling them to securely share case information, carry out investigations and audits, and monitor events history all from a single platform.

It is also unfeasible to expect staff to track and recognise out-of-the-norm behaviour by manually observing thousands of transactions logged on your online platforms hourly or daily. Apart from the security and compliance issues, relying on manual methods of detection fail to detect customer trends and behaviour patterns that expose risk or alternatively inspire continued business growth.

Without support from smart, automated compliance systems, banking operators and financial providers often have to perform AML and affordability checks on false positives, which can be costly and wastes precious resources.

Having a less than optimal compliance strategy may result in hefty fines, as well as reputational damage, and potential blacklisting across key markets and jurisdictions.

The Benefits

Identify suspicious behaviour

Monitor transactions in real-time for a ‘whole picture’ analysis of a customer’s profile, risk levels, and predicted future activity

Increase
automation

Minimise false positives by tailoring scenarios to customer or transaction risk and focusing on regulatory priorities

Increase effectiveness
over time

Tune rules through back testing without the need of technical personnel

Give regulators and customers confidence

A ‘tried & tested’ system with a clear audit trail of monitoring and investigations

Implement quickly, easily
and securely

Easy to implement REST API or batch file upload

Request a personalised demo today.

Let us provide you with a customised product demo on simulated data to ensure you see the solution in action relative to your business requirements.

Request A Personalised Demo Today.​

Let us provide you with a customised product demo on simulated data to ensure you see the solution in action relative to your business requirements.

Get in touch with
our sales team?

Let us help you address AML transaction monitoring requirements by automatically identifying suspicious behaviour in real-time.

Need technical
support?

Talk with our team of product experts to help solve any issues you may be experiencing and to maximise your investment.

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