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Ensure your compliance team is working at optimal efficiency

An essential part of a Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance solutions is transaction monitoring – software designed to oversee customer transactions in real-time or on a daily basis, as well as detecting any possible risks hidden in business relationships.

The need for a reliable compliance system is becoming more and more urgent in order to prevent financial crime and fraud from spreading, which means that transaction monitoring is now no longer optional but a necessity.

AXON enables you to automate and optimise your regulatory and compliance functions by tracking and reporting on critical data in real-time. This provides a major benefit in time-saving, versus a manual process where you are limited to performing individual checks on each data source.

An AML transaction monitoring solution is meant to identify and prevent any ongoing transactions that may lead to fraud, financing terrorist organisations, and money laundering. Proper risk analysis is carried out by using adequate KYC procedures to gather information, then AXON uses its rules engine to build scenarios for monitoring transactions. This is how AXON achieves full automation and a smoother transaction monitoring process.

AXON offers a complete ongoing monitoring solution through the profiling and analysis of customer behaviour from a transactional perspective. It constantly checks customers in real-time to meet AML requirements on threshold of deposits or withdrawals. Furthermore, the payment method and deposit or withdrawal values are utilised to drive logical checks and the related triggers to the KYC system. This provides your compliance team with a single place to manage all the data related to KYC activity for your entire customer base.

AXON also takes into consideration the current KYC status and level of documentation attained on each customer to only trigger notifications when required.

When a suspicious transaction is identified, AXON is designed to alert the compliance team to review and reassess any potential risk. In doing so, it reassures companies and regulators by giving them extra confidence in their compliance process. Advanced checks such as beneficiary monitoring is provided via access to watch lists and PEP’s whilst the system can also be customised to include validations and various AML checks.

To learn more about the AXON AML transaction monitoring platform, visit www.computimesoftware.com/axon-gaming or e-mail info@computime software.com

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