Continuous Controls Monitoring Platform
Better insights. Better processes.
Alessa provides early detection of abuse, misuse, and waste in your business processes and activities.
Powered by rules-based analytics, Alessa automates process monitoring and analysis to quickly flag suspicious activities. With Alessa, you will be able to:
- Detect high-risk issues and take actions to mitigate them
- Improve business processes and internal controls standards
- Eliminate or reduce the need for cost recovery services
Continuous review of your accounts payable program allows you to:
- Detect non-compliant discounts
- Block payments that exceed approval limits
- Detect duplicate invoices or payments
- Prevent payments for unapproved or incomplete projects
Ensure that the correct people and amounts and paid after every pay cycle. Alessa makes it easy to:
- Track overtime and net payments
- Flag ghost employees and vendors
With tight margins and high loss rate, retail monitoring allows you to actively improve the bottom line. With Alessa, you can:
- Review all transactions
- Assess store performance
- Verify discounts comply to policies
- Reduce losses due to fraud, waste, and abuse
P2P and Vendor Management
Overpayments, false invoicing, and theft of inventory are major sources of fraud. Alessa allows you to detect duplicate vendors and suspicious payments, matches between employee and vendor bank accounts and more.
Alessa can help ensure all your business processes are operating cost-effectively. Contact us today for a free demonstration of the continuous controls monitoring solution and see how Alessa can improve your business and enhance the bottom line.
Customer Due Diligence (CDD)
Better technology for deeper risk intelligence
Our AML compliance software includes APIs for integration with your onboarding systems to verify identities and search sanctions, politically exposed persons (PEPs), OFAC, and proprietary lists in real time. Real-time risk intelligence during onboarding is critical to protecting your business.
A good CDD process should include these seven elements:
- Full identification of customer and business entities, including the source of funds and wealth and beneficial ownership when appropriate
- Development of transactional activity profiles of each customer’s anticipated activity
- Definition and acceptance of the customer in the context of specific products and services
- Assessment and grading of risks at both customer and account levels
- Account and transaction monitoring based on the risks presented
- Investigation and examination of unusual customer or account activity
- Documentation of findings
In addition to the above, CDD processes should include periodic risk-based monitoring of the customer relationship to determine whether there are substantive changes to the original CDD information (e.g., change in employment or business operations)
Enhanced Due Diligence (EDD)
The details count
Enhanced due diligence has additional measures aimed at identifying and mitigating the risk posed by higher risk customers.
Enhanced due diligence (EDD) is a must for organizations looking to comply with anti-money laundering (AML) regulations, engage with new suppliers, vet parties involved in a merger or acquisition, or meet anti-bribery and anti-corruption obligations.
Alessa offers the ability to automatically order EDD reports from Refinitiv directly from the platform. This allows compliance teams to go beyond simply checking whether an entity is on a sanction or watch list and get detailed background information on individuals and businesses based on comprehensive research by the Refinitiv team.
Learn what sanctions are, the penalties for sanctions breaches, and why a sanctions compliance program is essential when trading across borders.
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.
Learn why source of funds and source of wealth play a vital role in anti-money laundering activities, including KYC and customer due diligence.
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