AML Compliance With Alessa

January 25, 2020

For organizations looking to enhance their AML compliance program, Alessa is a solution that integrates with core systems for real-time due diligence, transaction monitoring, sanctions screening and regulatory reporting capabilities.

It is configurable to clients’ needs and can be deployed as modules or as a complete end-to-end risk management solution. Deployments can be on-premise, hosted or a hybrid of both.

 

Meets Unique Needs
Designed for banks, MSBs, casinos, fintechs and other regulated entities of all types and sizes, Alessa is configurable as an end-to-end enterprise solution or as a modular solution depending on the organization’s needs.

Holistic View of Data
Alessa can connect to almost any core system, allowing organizations to have a holistic view of their data, detect more suspicious activities and quickly investigate and resolve alerts.

Compliance Simplified
Easy to implement in new environments or in established core infrastructure, Alessa is easy to use, which helps engage the entire business in compliance and get ahead of fraud detection challenges.

Reduce Workloads
Alessa simplifies compliance by reducing time spent on due diligence with real-time screening, automating periodic screening, managing false positives and auto-populating at least 70 percent of regulatory reports.

 

Capabilities

Customer Due Diligence
To support KYC, CDD and EDD processes, Alessa combines data from onboarding, transaction monitoring and other core systems with identity verification and risk intelligence data to provide updated risk profiles and scores that are based on activities and relationships.

Sanctions Screening
Alessa screens individuals and businesses against multiple lists including PEPs, negative news, OFAC and other sanctions lists. Screening can be done in native characters and in real time, periodically or on demand.

Transaction Monitoring
Alessa can analyze every transaction in real time and using an extensive library of analytics and scenarios, generate alerts for suspicious activities. These are sent to the appropriate personnel via text or email for investigation and/or reporting.

Regulatory Reporting
All suspicious activity alerts include data needed for regulatory reports. Once it is determined that an STR or a SAR needs to be filed, Alessa can auto-populate (and electronically file) as much as 70% of these reports. Alessa can also automate as much as 100% of CTRs.

Metrics & Insights
Alessa offers configurable dashboards that track key metrics and allows compliance staff to drill down into the alerts. Advanced analytics allow for sound decision-making and actions to be taken based on comprehensive information and insights.

Configurable
With Alessa, organizations can select the functionality they need or the complete solution. Permission-based functionality allows different users to access only the information they need to perform their responsibilities,
and data can be maintained in the cloud or on-premise, ensuring compliance with regulations.

Data Management
Alessa accesses data from any platform, including ERPs, bespoke applications and core business systems. The data is then cleansed and aggregated to increase its accuracy, and cross-referenced to reveal big-picture insights. Better data means better insights.

Investigation Tools
Alessa offers dynamic workflows to guide processes and investigations. Enterprise search capabilities allow for easy search of data within internal and external sources while case management offers a collaborative approach to investigations, compliance and decision making.

Risk Scoring
Alessa uses data from various sources, including sanctions lists, to provide an assessment of the risks of doing business with an individual or business. The solution also periodically reviews an organization’s customer base and updates their risk level based on their activity and third-party data.

 

Download our brochure to learn more about AML Compliance with Alessa.

 

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