for Payment Firms
Moving at the speed of change
It’s time to be proactive. The payment processing industry is growing exponentially and is expected to surpass $146 billion by 2030. This explosive growth has attracted both bad actors and the attention of regulators. Payment processors are included as part of the Enablers Act and compliance regulations will continue to increase.
Regulators and bank partners need you to provide safe, protected payment processes that meet or exceed compliance regulations. Customers expect you to do it with speed, accuracy, and no service disruptions. You need a powerful AML solution built to work for payment firms.
Why Compliance Professionals Prefer Alessa
Alessa's Integrated AML Platform for Payments Offers You
Ensure your business is protected and your clients receive timely service. Alessa lets you conduct real-time name screening during onboarding, so you get the assurance you need without jeopardizing customer service.
A highly accurate and flexible solution, Alessa helps you stop suspicious transactions and reduce false positives. Alessa allows you to review suspicious transactions in real-time including structuring, smurfing, flipping or out-of-compliance activities.
With Alessa, screening can be done in real-time, or periodically in batches. Alessa uses sanction lists, OFAC, law enforcement, politically exposed persons (PEPs), adverse media, and internal high-risk lists to provide a realistic view of the potential risks associated with your clients.
Using data from various sources, Alessa allows you to develop a risk scoring model that matches your organization’s risk tolerance so you can easily assess the risk of doing business with an individual. Alessa can also continuously review your client base and updates individual risk scores based on client activity and third-party data.
Learn what sanctions are, the penalties for sanctions breaches, and why a sanctions compliance program is essential when trading across borders.
An overview of the key OFAC sanctions lists, including the SDN, NS-MBS, and SSI lists, and learn how to overcome common OFAC sanctions screening challenges.
Learn why source of funds and source of wealth play a vital role in anti-money laundering activities, including KYC and customer due diligence.