Solutions - AML Compliance
Funds transfers management
Monitor Plus ICM™ (Intertrade Control Manager)
is a comprehensive solution for the effective management and control of funds transfers (local and international) in real time using SWIFT protocols or equivalent formats. This system complements AML, fraud prevention, and operational risk management.
Use cases
- AML and wire fraud prevention.
- Prevention of terrorism financing.
- Operational risk management.
- Suspicious activity monitoring and reports (SARs).
- Watchlist screening.
MAIN BENEFITS
AML and fraud prevention
Monitor Plus ICM™ (Intertrade Control Manager) manages and monitors local and international transfers in real time using SWIFT protocols or equivalent formats based on industry best practices and validating data against all types of electronically available lists (e.g. OFAC, CIA, PEPs, institution's own, etc.).
Funds transfers management
Monitor Plus ICM™ has an automated interface to SWIFT that proactively manages international transfers with the ability to stop and manage transactions with persons and territories that are sanctioned or pose a high risk to the institution.
Control over operational risks
The platform manages operational risks related to international transfers (e.g. internal control, non-compliance with policies, etc.) and can reject potentially duplicate transfers, notifying the customer about their transactions (if they have subscribed to the service).
Funds transfers traceability
The system interprets, stores and compares the data fields in SWIFT messages (payment route, payer, payee, currency, etc.). In addition, it allows queries for individual transfers and their SWIFT messages.
Accurate detection and low alert volume
Monitor Plus® uses an assembly of expert models and artificial intelligence to achieve high-level detection and minimal false positives, reducing customer friction and fostering loyalty. Additionally, a lower volume of alerts reduces the operational burden on staff.
An intelligent compliance management system
Monitor Plus ICM™ is a complementary SWIFT transfer monitoring system that enables compliance with anti-money laundering and counter-terrorism financing regulations through an assembly of machine learning techniques and expert models.
This system allows managing operational risks related to funds transfers (internal control, non-compliance with policies and procedures, etc.) and generates timely and preventive warnings.
Boost customer service
Monitor Plus ICM™ provides support to customers by sending transfer confirmation by email (for customers subscribed to this service) and rejecting potentially duplicate transfers. It also generates ACKN notifications and allows individual SWIFT message queries.
Management optimization
The system integrates a workflow that facilitates decentralized management and automation processes. It also integrates a data warehouse to generate historical statistics, and facilitates the implementation and compliance with FATF recommendations.
