Credit Union Transaction Monitoring Software
Comprehensive transactional analysis and monitoring for credit unions
Credit unions face the dual challenge of protecting their members’ assets while having to navigate complex regulatory requirements. An industry-specific, modern software solution with real-time monitoring capabilities is vital for ensuring your business can accurately understand activities taking place within your organization, facilitating compliance and business growth.
Alessa’s transaction monitoring system is specifically designed to notify compliance teams, with real-time, periodic or event-based monitoring of suspicious transactions in virtual and traditional currencies.
Alessa’s transaction monitoring solution is tailored for the unique needs of credit unions, offering real-time surveillance and batch screening with in-depth analysis of transactional data. By integrating with existing systems, Alessa provides compliance teams with the ability to:
- Conduct real-time monitoring of transactions across various accounts, with the ability to scale as your business grows
- Detect unusual transaction patterns that could signify fraudulent or money laundering activities
- Streamline the generation and management of reports and alerts for suspicious activities
Why Credit Unions Trust Alessa for Transaction Monitoring
Real-Time, Periodic or Event-Based Results
Our solution provides results in various time frames, based on your compliance needs. Monitor all types of transactions in real-time, periodically or with event-based monitoring.
Powered by Machine Learning and Rules-Based Analtyics
Alessa uses configurable machine learning and rules-based advanced analytics to help you detect suspicious transactions that are out of character or exceed your organization’s risk tolerance.
Powerful Real-Time Transaction Screening
Alessa analyzes all entities involved in a payment transaction (wires, SWIFT, Interac, ACH, CHAPS, etc.) and screens them against infraction lists to determine if one or more parties are a match. This process takes place in real-time, allowing for interdiction if necessary.
Scale with Ease
As your credit union grows, Alessa’s compliance solutions scale effortlessly, helping you manage higher transaction volumes. Powered by machine learning, Alessa also continuously adapts and grows to identify increasingly complex business-specific patterns as more data is processed.
Workflows and Case Management for Flagged Transactions
With a highly configurable workflow module, Alessa facilitates collaborative case management and investigation. Your investigators can search your repository of alerts, cases, comments, etc., for related information to include in current investigations.
Ongoing Support and Expertise
With a highly configurable workflow module, Alessa facilitates collaborative case management and investigation. Your investigators can search your repository of alerts, cases, comments, etc., for related information to include in current investigations.
Monitor for Suspicious Transactions in Real-Time
Our AML transaction monitoring provides credit unions with instant results and faster decision-making capabilities. Alessa provides immediate insight into suspicious activity for accurate transaction monitoring leading to fewer false positives.
Industries We Serve
Integrated AML Compliance Software for Credit Unions
Our transaction monitoring software is just one module in the Alessa AML platform for credit unions. Our platform not only automates and simplifies the transaction monitoring process but also adapts to the evolving regulatory landscape, ensuring that your business remains compliant and your operations run smoothly.
Our various AML software solutions include:
AML Compliance Software for Credit Unions in a Single Platform
A complete AML compliance solution for credit unions on one integrated platform. Alessa provides seamless compliance functionality – from the first red flag to the final regulatory report.
A 360° View of
Each Client
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.
Identity Verification and KYC Compliance
Verify identities in real-time during onboarding, and conduct periodic and ongoing CDD for KYC and KYB processes. Alessa helps you to make informed decisions during and after onboarding, backed by reliable identity data and comprehensive sanctions intelligence.
Watchlist, PEP & Sanctions Screening
Implement a modern screening solution. With Alessa, pay only for the screening data you utilize, and reduce false positives with our proprietary PEP Scoring Model.
Configurable Risk Scoring
Every credit union has a different risk appetite. Alessa offers a fully customizable risk model to support your unique customer due diligence and KYC requirements.
Automated Regulatory Reporting
Cut the time your compliance team spends on regulatory reporting. Alessa auto-populates, validates, and submits regulatory reports, including reports for FinCEN, FINTRAC, and numerous other regulatory environments.
Enhanced Due Diligence (EDD)
Alessa’s enhanced due diligence software allows you to order enhanced due diligence reports directly from the application and delivers them in one-third of the time for one-third of the average industry price.
AML Case Management
Streamline investigations with Alessa’s automated case management, enhancing operational efficiency for your business.
Schedule a Free Demo
Create a more comprehensive client profile for better risk management with Alessa.
Book your complimentary demo of our credit union transaction monitoring software today.
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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
Alessa