Transaction monitoring
Detect, Prevent, Protect: Smarter Transaction Monitoring for Safer Business.
Transaction Monitoring
Our Transaction Monitoring module ensures that all financial activities are continuously observed and analyzed for any signs of suspicious behaviour.
Transaction - Maker Level:
Transactions are initiated and recorded at the maker level, where the initial data entry and submission take place. This step ensures that all transactions are properly documented and ready for further scrutiny.
Transaction Approval - Checker Level:
At the checker level, transactions are reviewed and approved or rejected based on compliance criteria. This dual-layered approach reduces the risk of errors and ensures that only compliant transactions are processed.
GoAML Reporting:
Our solution, 1st Compliance, has fully integrated the GoAML schema guidelines into its system to streamline the generation of regulatory reports. With this feature, your organization can automatically generate and format reports in accordance with GoAML requirements. These reports are ready for direct upload to the Financial Intelligence Unit (FIU), eliminating the need for any manual processing. This not only ensures accuracy and compliance with regulatory standards but also significantly reduces the time and effort required to meet your reporting obligations.
Customizable Transaction Monitoring Rules:
Tailor transaction monitoring rules to fit your organization’s specific needs. Our system allows you to set up bespoke rules that can detect unusual activities based on transaction size, frequency, location, and other relevant factors.
Regulatory Reporting Formats:
Generate reports that meet the exacting standards of regulatory bodies. Our solution supports various formats required by regulators, making it easier to comply with reporting obligations.
Auto Risk Updates:
As transactions are monitored and analyzed, our system automatically updates the risk profiles associated with each entity, ensuring that your risk assessments remain current and reflective of actual activities.