Anti-Money Laundering
Banking customers today demand access to their assets at an unprecedented level: the increase in the variety of channels available to deposit and withdraw assets, the velocity of asset flow through these channels, and a shift in how accounts are viewed and used by customers presents major challenges to all firms. At the same time regulators continue to expand and enforce Anti-Money Laundering regulations on a wide range of assets from cash transactions and wire transfers to equity transactions and prepaid cards. In addition, regulators in a wide range of geographies have placed increased scrutiny on compliance across the customer lifecycle, from Know Your Customer processes during onboarding to a continued focus on transaction monitoring and watch list filtering. Achieving a balance between customer service and AML compliance has never been more challenging.
Exzac has developed a wide range of services to help our clients focus on and solve the most important issues faced by their organization. Our business and technology experts have significant experience in providing risk assessments, analyzing gaps as compared to industry best practices, and implementing systems designed to enhance this focus. We provide many of our clients with advanced, risk-based tuning capabilities and link analysis technology to help improve the output of AML systems, achieving compliance by focusing on entities and transactions that are actually high risk and avoiding needless workflow by eliminating statistical and business noise.
In addition to our work evaluating, implementing and improving AML monitoring systems and programs, Exzac has developed a practice focused on deploying and improving the operational processes and technologies associated with the back end of the process. Our experts know how to get the most out of case management systems whether that means understanding how business requirements can be best implemented in different platforms available or providing insight on best practices with regard to SAR and CTR filing.
In addition to our work developing compliance strategy and implementing major AML platforms Exzac offers a set of services designed to maximize and extend the performance of our clients' anti-money laundering programs:
Risk Based Tuning
Many financial institutions we talk with are looking for a way to control alert volumes while increasing the focus of their AML surveillance solutions on true high risk behavior. Most systems we encounter have been tuned using a purely statistical approach that creates an even distribution of alerts targeting a certain number of alerts per day or month. Exzac has developed a risk-based approach to tuning that results in a much higher quality set of alerts and allows out clients to manage alert and SAR volumes by adjusting risk treatment strategies based on the underlying risk profile of different segments within the product and customer portfolio
Correspondent Banking Offering
Increased regulatory scrutiny of correspondent banking activity has led a number of our clients to look for a way to establish an effective sureveilance capability in this area. In fact, the infrastructure components required to conduct highly effective surveillance of correspondent activity often already exists in house and needs only to be activated via 3 key enhancements. Exzac has developed an offering that combines data transformation and model enhancements to provide a targeted solution for the surveillance of correspondent activity and relationships without the need for a separate solution. The approach enables the extraction, profiling and surveillance of each entity involved in correspondent transaction and, while creating a specialized defense, maintains tight integration with existing platform technologies and operational processes
