Banks

An easy-to-use anti-money laundering software for banks providing risk management solutions, reduction of manual processes and end to end compliance tools.

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Heavy price for non-compliance

an AML compliance officer at a bank

Highly publicized fines imposed on banks and money services businesses (MSBs) for allowing criminals to use their institutions to launder money reinforces the importance of having a proper anti-money laundering (AML) program.

To help financial institutions comply and evolve as regulations tighten, Alessa offers an end-to-end anti-money laundering software for banks that includes due diligence, sanctions screening, transaction monitoring and automated regulatory reporting. Alessa gives you the choice to fully automate all compliance processes, or implement automation where needed.

Our bank compliance monitoring software detects and reports suspicious activities in real-time, proactively resolving and identifying high risk entities and screening transactions to reduce the risk of illicit activities – all without increasing the effort and staff to maintain compliance. Features of the solution include:

  •  Real-time due diligence
  •  Transaction monitoring and screening
  •  Sanctions screening
  •  Automated regulatory reporting
  •  Advanced analytics like anomaly detection and machine learning
  •  Dashboards, workflows and case management that engages the entire organization

Features & Benefits

Alessa Alessa

Due Diligence

Real-time risk intelligence during onboarding so you know who you are doing business with

Alessa Alessa

Transaction Screening

Monitor transactions in real-time to intercept suspicious activities for investigation

Alessa Alessa

Sanctions Screening

Real-time and periodic screening to detect high-risk entities and activities

Alessa Alessa

Regulatory Reporting

Automated creation, validation and e-filing of SARs, CTRs, STRs for various jurisdictions

Alessa Alessa

Risk Scoring

Realistic assessment of risks based on entity profile and activity that is configurable

Alessa Alessa

Investigation Tools

Workflows, case management that engages the entire organization in compliance

Bank customer onboarding

Easier onboarding of customers

Identify whether a client is worth doing business with before it affects your bottom line. Alessa includes APIs for integration with onboarding systems to verify identities and search sanctions, politically exposed persons (PEPs), OFAC, and proprietary lists in real-time. Results are used to update the risk associated with an entity to easily help comply with Bank Secrecy Act customer due diligence requirements and support KYC efforts.

 

Minimize false positives with accurate risk assessment

Alessa’s anti-money laundering software for banks leverages data from various sources to create a risk score. Risk factors and weights are all configurable by the organization to match their risk appetite and tolerance. Periodic reviews are managed by workflows and scores are updated based on the entities’ activities.

 

bank transaction monitoring

Monitor and screen every activity

Streamline transaction monitoring in banks with Alessa. Monitor all transactions conducted, including cash deposits, wires and checks, to detect suspicious activities. We offer a scalable solution with the ability to manage a growing volume of transactions in real-time. With this holistic view, any alerts are sent to the appropriate personnel for further investigation, remediation and reporting.

 

Machine learning and analytics

By learning from historical data, Alessa is able to detect suspicious deviations from normal behavior. Anomaly detection is also combined with rules-based analytics and entity risk scores to reduce false positives and prioritize investigations.

banker conducting sanctions screening

Learn from past decisions

Configure the system to learn how investigations are handled and then reapply those decisions to future alerts and cases. This highly configurable feature reduces workloads and repetitive decisions.

 

Eliminate tedious reporting

Alessa’s bank compliance software eliminates the burden of regulatory reporting with the ability to automate all obligations, such as currency transaction reports (CTRs), suspicious activity reports (SARs) and suspicious transaction reports (STRs).

Reports are auto-populated, validated and electronically submitted to regulators across multiple jurisdictions, including FinCEN and FINTRAC. goAML is also supported.

Contact our specialists today to learn more about how Alessa’s anti-money laundering software for banks can streamline your AML compliance program.

 

RELEVANT SOLUTIONS

AML Compliance

Alessa integrates with existing systems to detect suspicious activities, automate processes, reduce false-positives, decrease repetitive tasks and engage the entire organization in a culture of compliance.

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Sanctions Screening

Screen individuals and entities in real-time during on-boarding, periodically or in batches with Alessa.

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Transaction Monitoring

Screen transactions in real time, periodically or by specific events with Alessa.

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