Ambit Anti-Money Laundering
Anti-money laundering (AML) regulations have become more stringent and compliance is now a necessity not an option. Banks globally are required to monitor, investigate and report transactions of a suspicious nature to the financial intelligence unit of the central bank or government agency in their respective countries. However, monitoring activities manually is expensive and prone to error yet banks that do not comply face fines, penalties and damage to their reputation.
SunGard can help. SunGard’s Ambit Anti-Money Laundering provides a detection and AML compliance platform for banks. Ambit Anti-Money Laundering facilitates AML regulatory compliance by providing automated and consistent surveillance of transactions, accounts and customers across all line of business for suspicious activities, money laundering and possible terrorist financing.
Features
- Matches names from different languages based on phonetics and language-specific attributes against watch-lists
- Indicates customer risk, country risk, channel risk and product risk dimensions
- Provides ability to compare customer activity to peers as well as grouping customers into logical entities
- Provides full audit trail and records of past cases, alerts and regulatory reports for full auditability
- Includes integrated case management which facilitates the review and investigation of alerts using organizational best practices and processes
- Can be delivered in a Software-as-a-Service (SaaS) model
Benefits
- Acquire comprehensive and flexible AML detection
- Identify clear and accurate signals of absolute and relative risk
- Possess practical and analytic AML investigation capability
- Helps banks swiftly investigate and resolve cases
- Delivers ease of use via a browser-based user interface with friendly navigation and presentation
- Helps eliminate infrastructure and ongoing costs of software installation and maintenance through SaaS