a company using an MSB compliance software

AML Compliance for Money Service Businesses (MSBs)

You're not a bank

Like other financial institutions, Money Services Businesses (MSBs) are required to maintain an effective anti-money laundering (AML) program.

Unlike other financial institutions, MSBs face additional unique compliance challenges:

  • Providing quick and easy access to transaction like money orders, check cashing, currency exchange and money transfer services
  • Transitory customers, making KYC capture challenging
  • Reduced visibility into transactions movement

You need a powerful solution built to work for MSBs.

Alessa understands your specific needs as an MSB. We work with you to efficiently maintain compliance without jeopardizing the customer experience.


The Alessa platform offers:

Get assurance before the transaction takes place. Operating in a saturated market, your MSB must ensure clients receive the best service. Alessa lets you conduct real-time name screening during and after onboarding for compliance and assurance purposes.

Real-time transaction screening. Whether your team manages the compliance of a single location or multiple retail outlets, Alessa allows you to review suspicious transactions including structuring, smurfing and flipping or out-of-compliance activities in real-time.

Get a true picture of risks. Our powerful compliance solution uses OFAC, politically exposed persons (PEPs), sanctions watchlists, and internal lists, to provide a realistic assessment of the potential risks associated with an entity.

Alessa also periodically reviews your existing customer base and updates their risk level based on their activity as well as data from third-party lists.

Risk scoring you control. Develop a risk scoring model that matches your establishment’s risk tolerance, so you can have a complete picture of each of your patrons. 

 

With Alessa, risk factors, weights, scores, and aggregates are all configurable based on your specific needs.

Regulatory reports in minutes. Automated regulatory reporting for currency transaction reports (CTRs), suspicious activity reports (SARs) and suspicious transaction reports (STRs). Alessa generates, validates and e-files in multiple jurisdictions.

Alessa also keeps your reporting requirements up to date, meaning you never have to worry about missing an update from a regulator again.

Make investigations easier with our case management solution. Detecting potential AML risk is just half of what Alessa can do to help ease your compliance efforts. Alessa offers a highly automated case management solution that allows your team to collaborate better and get to resolutions quicker.

MSB compliance software in use

Make AML compliance the easiest part of your day. Book your free demo of Alessa’s AML compliance platform.

Schedule a FREE demo

See for yourself how Alessa can help your organization.


Alessa provides a 100% commitment free demo to demonstrate the tools and features we provide.

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