Skip to content
Anti Money Laundering

Anti-Money Laundering

In today’s modern age where Financial Institutions deal with clients of different backgrounds and transactions of varying complexity, the onus lies on these FIs to ensure they are able to separate illicit from legitimate funds. They are under pressure to identify and prevent fraudulent individuals from accessing the global banking system and, thus, converting their illicit funds into legal tender. Anti-Money Laundering (AML) measures are designed to help FIs become better informed and well-prepared to prevent the laundering of illicit funds by using a risk-based approach and following recommendations issued by regulators and governing bodies. AML is continuously evolving and considered high priority by banks and global regulators, especially with the rise of crypto and other blockchain-based digital assets.

Client benefits

  • Prevent financial crime before it happens: protect yourself as well as your customers against money laundering and terrorism financing activities.
  • Become and/or stay compliant: make sure your policies and systems meet global and local regulatory requirements to avoid hefty fines and penalties.
  • Free up client time and reduce complexity: AML rules and regulations are becoming more and more pervasive. Let us help you connect the dots between systems and user groups, paving the way towards an integrated system landscape.
  • Innovate and automate: forget about manual processes, let us support you in getting your systems to work for you.
  • Make sure to leverage your data: stop capturing the same attributes on multiple occasions for various purposes. We guide you through the maze of data redundancies and assist you in mapping out your data in a consistent and well-structured manner.
  • Create value from being compliant: use all the information and client interactions that you have from an AML point-of-view to your advantage to create additional leads, further tailor the client lifecycle and customize your offerings.

finalix contribution

  • Assessment of your system environment and identification of weaknesses and improvement opportunities (gap analysis, proof of concept design, etc.)
  • TOM definition and implementation.
  • Driving process design, integration and structuring across all areas of AML and client lifecycle management:
    • Risk-based client onboarding, including CDD/EDD.
    • Tailor-made KYC profiles and questionnaires, focusing on compliance and efficiency alike.
    • Ongoing integral and intelligent transaction monitoring
    • Event-based and periodic operational review procedures and suspicious activities/transactions reporting (SAR/STR).
    • Reporting to regulators and other internal/external stakeholders
  • Turn-key project management from analysis, to implementation, roll-out, communication and training.
  •  Vendor evaluation and selection.

Our experts

Daniel Knecht 1
Stefan Fejes 1
Senior Manager

Back to Regulatory