If you were asked how risky any given customer is to you, at this moment, would you be able to say?
Would you know:
- The customer’s typical activity patterns
- Whether they are on a sanctions list
- Are they a politically exposed person (PEP)
- Do they have any particularly risky relationships
- Have they ever been investigated by regulators
All of these factors directly influence the risk a customer presents to your business. They are also factors Alessa analyzes to help you assign a risk score to your customers and entities.
Calculating the Risk
Most customer risk scoring models use risk factors, weights, weighted factors and logic to calculate the score. Risk factors are usually grouped into two key areas:
The profile category includes factors specific to the customer: their industry, nature of business, profession, country of residence, citizenship, length of relationship and so on.
includes their level of cash transactions, alerts generated from the transaction monitoring system, suspicious activity reports (SARs) and currency transaction reports (CTRs) filed, etc.
Building the Risk Models That Are Right For You
Customer risk models will not always score every customer accurately, so most organizations need a way to adjust the score for select customers.
Alessa provides both a robust library of standard risk models and also allows you to include additional risk modelling specific to your needs. This gives you the best scoring capabilities for your business.
Integration is a Two-Way Street
The risk scoring engine in Alessa has a direct impact on the other modules – and vice-versa.
Alessa uses data from various sources, including sanctions lists and transaction monitoring results, to provide an assessment of the risks of doing business with an individual or business. The solution also periodically reviews your customer base and updates risk levels based on their activity and third-party data.
You can configure how Alessa analyzes and applies that data to determine a customer’s risk level, based on your specific business needs.
The Alessa team of risk experts can support your team in understanding the right risk models for your business. Contact us for a product demo and see the power of the Alessa risk scoring module in action.
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Excellent tool for fraud prevention and risk management
I have worked with Alessa for years because of how useful it is to thoroughly analyze transactions and identify suspicious operations
– Jane Doe, Company ABC
