MSB Transaction Monitoring Software
Real-time insights into MSB transactions
Money Service Businesses (MSBs) are at the forefront of modern financial transactions, bridging a critical gap in the global financial ecosystem. As the volume and speed of transactions escalate, MSBs are increasingly susceptible to financial crimes, necessitating robust Anti-Money Laundering (AML) capabilities.
Alessa provides a comprehensive transaction monitoring and screening solution designed specifically for the unique challenges faced by MSBs.
Alessa’s transaction monitoring solution is tailored for the unique needs of MSBs, offering real-time surveillance and analysis of transactional data. By integrating with existing systems, Alessa provides MSBs with:
- Real-time, periodic or event-based monitoring of transactions across various accounts, with a solution that scales with your business
- Quick detection of unusual transaction patterns that could signify fraudulent or money laundering activities
- Streamlined generation and management of reports and alerts for suspicious activities
Why MSBs Choose 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, whether physical or virtual, 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 business grows, Alessa’s compliance solutions scale effortlessly, helping you manage higher transaction volumes. Powered by machine learning, Alessa 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 are able to search your repository of alerts, cases, comments, etc., for related information to include in current investigations.
Ongoing Support and Expertise
With Alessa, benefit from continuous expert guidance and ongoing support. Our Support Team helps to ensure your AML program remains robust and compliant.
Monitor for Suspicious Transactions in Real-Time
Our AML transaction monitoring provides MSBs 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 MSBs
Our transaction monitoring software is just one module in the Alessa AML platform for MSBs.
Our platform not only automates and simplifies the transaction monitoring process but also adapts to the evolving regulatory landscape and changes within your business, ensuring that you remain compliant and compliance operations run smoothly.
Our various AML software solutions include:
AML Compliance Software for MSBs in a Single Platform
A complete AML compliance solution for MSBs 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 about new relationships 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 MSB 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 MSB transaction monitoring software today.
Latest Insights
What Is a Money Laundering Reporting Officer (MLRO)?
Learn the top 10 factors that AML compliance professionals should be scoring to ensure they have a complete picture of client risk.
The Benefits of Continuous Controls Monitoring
Learn the top 10 factors that AML compliance professionals should be scoring to ensure they have a complete picture of client risk.
Transaction Monitoring Rules: 4 Best Practices for AML Professionals
Discover 4 best practices for AML professionals to optimize transaction monitoring rules, improve detection accuracy, and ensure compliance.
Identifying Real Estate Money Laundering Red Flags
Learn the real estate money laundering red flags compliance professionals should watch out for to protect their business and ensure compliance.
Top 10 Anti-Money Laundering Risk Scoring Factors Across All Industries
Learn the top 10 factors that AML compliance professionals should be scoring to ensure they have a complete picture of client risk.
Primary and Secondary Sanctions: Definition and Best Practices
Learn about primary and secondary sanctions, their impact on global trade, and best practices for compliance to manage risks and maintain regulatory adherence.
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