AML Compliance for Credit Unions

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Your business is changing

Collaborative AML Compliance Team at a credit union

Credit Unions are growing, expanding their services and membership. They are more digital, more competitive, and being subjected to more regulations than ever before.

Alessa’s powerful, integrated platform is designed to support a risk-based approach to compliance while reducing cost. Our credit union anti-money laundering solution supports your compliance team by automating tasks and workflows to create more efficient processes and faster resolutions.

Alessa can help enhance your credit union compliance program with:

  • Due diligence for credit union KYC programs
  • Sanctions and PEPs watchlist screening
  • Credit union transaction monitoring and screening
  • Risk scoring you configure
  • Automated regulatory reporting
  • Advanced analytics like anomaly detection and machine learning
  • Dashboards, workflows and case management solutions


Features & Benefits

Alessa Alessa

Due Diligence

Know who you are doing business with: Confirm identities during onboarding

Alessa Alessa

Transaction Screening

Monitor transactions, including wire transfers, and intercept suspicious transactions 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

Alessa Alessa

Investigation Tools

Workflows and case management that engages the entire organization in compliance

customer onboarding meeting

Easier Onboarding

Alessa’s AML solution for Credit Unions integrates with existing onboarding systems and can be used during the customer due diligence (CDD) process.

Once onboarded, Alessa provides you with the tools to better understand the nature and purpose of member relationships for enhanced anomaly detection.


Sanctions and Watchlist Screening

Alessa uses OFAC, law enforcement, politically exposed persons (PEPs), sanctions, adverse media, and internal high-risk lists to provide a realistic view of the potential risks associated with an entity.

Screening can be done in real-time, in batches or periodically. Alessa can also be configured to review your existing customer database and update risk levels based on existing profiles, risks and activities.


Transaction Monitoring Software

Transaction Monitoring for Credit Unions

Alessa monitors every transaction, including cash deposits, wires and checks, to detect suspicious activities. With this holistic view of your data, Alessa can accurately identify suspicious activities with less false positives.

Workflows ensure that remediation is completed while case management tracks and records investigations.


Human Resource Management

Member Risk Rating

Alessa leverages data from various sources to create a risk score to support credit union risk management efforts. Risk factors and weights are all configurable by you to match your specific risk appetite.


Regulatory Reporting in Minutes

Alessa also offers automated regulatory reporting for currency transaction reports (CTRs), suspicious activity reports (SARs) and suspicious transaction reports (STRs).

Your regulatory reports are auto populated, validated and electronically submitted to regulators.



Identity Verification

Confirm identities accurately and efficiently with an entire process that can be customized to your specific needs. Scoring customization allows you to determine which data is most relevant to a specific case, so you can easily determine if your subject is who they say they are.

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Enhanced Due Diligence

Alessa now offers the ability to order EDD reports directly from the application. This allows compliance teams to go beyond simply checking whether an entity is on a sanctions or a watch list and instead get detailed background information on individuals and businesses.

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Fraud Prevention

The fraud detection and prevention capabilities offered by Alessa analyzes data from virtually any source and use advanced analytics to detect anomalies, suspicious transactions and likely cases of fraud.

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