Payments firm with AML compliance program

AML Compliance
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

Get a Daily Update of Client Risk

Alessa provides you with a comprehensive and daily update on client risk, highlighting clients whose risk scores have surpassed your organization’s risk threshold in the last 24-hours.

A 360° View of Each Client

Alessa 360° provides a complete view of client information and activities, making suspicious activity easier to investigate and resolve.

Expedited Processes and Results

We've streamlined and automated many of the time-consuming AML tasks so you can focus on investigation and the next steps to help keep your establishment compliant.

Reinforce Your Banking Relationships

Show your banking partners that you are actively working to mitigate risky relationships and comply with regulations. Alessa makes it easy to prove your compliance efforts.

Alessa's Integrated AML Platform for Payments Offers You

Analytics to Know Your Customer

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. 

Real-Time Payment Transaction Screening

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.

Avoid Risky Clients With Sanctions Screening

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.

Risk Scoring You Control

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.

Enhance Collaboration With Case Management

Alessa offers a highly automated case management solution that allows your team to collaborate better and get to resolutions quicker.

Automate Regulatory Reporting

With Alessa your regulatory reports (CTRs, SARs, LCTRs and STRs) can be auto-populated, validated, and electronically submitted across multiple jurisdictions.

Schedule a
Free Demo

Meet increasing regulatory requirements, maintain your good standing with bank partners and keep customers happy with Alessa.

 

Book your complimentary demo of our AML Payments Solution today.

Latest Insights

OFAC sanctions lists being used for AML compliance

An Overview of OFAC Sanctions Lists

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.

Please fill out the form to access the webinar: