10 June 2020

New Features Update: Transaction Monitoring

We’ve been working on some new features for our Transaction Screening and Monitoring solution, to help increase your capability to investigate suspicious activity and speed up the route to remediation.

UI Improvements for Entity Screening Hits

It’s often difficult to make a quick, informed decision if there is a lot of information displayed for each hit. We’ve implemented some improvements to the list view and the highlight on the match type for each hit, to help steer the user’s attention and quickly understand the relevance of a match.

By default, we will now hide whitelisted entries to help customers focus on the relevant hits only, with the option to view whitelisted results, if needed.

Once the user opens the details screen for one of these matches, they can see the other names matched highlighted within the AKA list. When hovering over the highlighted AKAs, further information will be displayed to help the user understand the matching.

Entity Screening with Joined Accounts

For those clients whose data includes joint account names (Joe Bloggs and Jane Bloggs), you will now be able to identify the different people in the account name and return hits for both names.

New Status for Entity Screening Matches

We understand that there isn’t always enough initial information to make a decision and that there are frequently times where an alert will need to be escalated. This is why we’ve introduced a new ‘Unknown’ match status, alongside ‘True positive’ and ‘False positive’, to help improve the transparency of case management workflow.

Usability Improvements On the Dashboard

We know the “Age of Active Alerts” chart is very important for our users. Therefore, we’ve now positioned this chart alongside the system throughput information and made it increasingly granular for more recent alerts.

In this way, managers can have at the same time a view that encompasses a broader time horizon and clearly highlights when something is going over the line in terms of regulatory deadlines.

Augmented Filtering Options in the Transactions page

Finding the right information among the thousands of transactions in the system is all a matter of having powerful filtering options and configuring them accurately. For this reason, we’ve now included all the fields present in the source format among the filtering options. This dramatically reduces the time to remediate while increasing your capability to investigate suspicious activity.

To find out more about our Transaction Monitoring solution, speak to one of our AML experts.

Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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