TransferMate is one of the world’s leading B2B payments infrastructure-as-a-service companies. Based in Ireland, the company enables individuals and businesses to make seamless, cost-effective cross-border payments in more than 201 countries and 141 currencies.
Reduce false positives & increase workflow efficiencies with AI-powered Smart Alerts
AI-powered transaction monitoring
- Rules library of AML/CFT industry typologies
- No-code self-serve rules builder
- Simplified view of team performance
- Alert prioritization to boost efficiency
- Scalability to billions of transactions
Reduce false positives by 70%
Our solution learns from your analysts and data.
Allows you to prioritize and focus on the greatest risks to your business.
Use your own rules and benefit from AI
Create your own transaction monitoring solution by choosing from our library of red flags and suspicious activity scenarios. Set thresholds based on your risk exposure.
Where rules are unable to detect specific activity, our AI capability fills the gap to precision.
Proven value to our customers
Reduced false positives by up to 70%
Saved 80% of time spent on building risk scenarios
Monitored billions of transactions at 100 TPS with sub second response time
Went live within 2 weeks
Easy to use
- Use expert-built rules, customize them to your thresholds, or build your own from scratch.
- Define and build rules easily with an intuitive interface that requires no coding.
- Try and test new rules safely and easily before going live.
- Drive down false positives by tailoring your scenarios quickly in response to new business risks
- Segment customers based on your risk appetite and apply different thresholds and rules for different client segments.
- Easily integrate via RESTful API.
- Explore hundreds of out-of-the-box scenarios and models.
- Identify underperforming rules in real-time with advanced analytics.
- Pre-test rules in live conditions without tech support and make instant changes.
Monitor all transactions in one place
- Integrate any data point with any rule.
- Opt for our proprietary insights or synthesize them with your own.
- Incorporate third-party risk insights.
- Apply your risk-based approach via a powerful segmentation engine.
- Implement your customer risk scoring seamlessly with API integrations.
Manage cases intuitively
- Reduce your team’s operational overheads by prioritizing suspicious activity alerts.
- Optimized layout to allow teams to investigate quickly by accessing information for faster decision-making.
- Efficiently investigate alerts and cases, drill down on related entities, add notes and attachments — all with a comprehensive audit trail.
- Empower investigators to focus on the highest priority, SAR-worthy alerts.
Prioritize work efficiently with explainable Smart Alerts
- Delegate grouped alerts automatically based on risk levels and action accordingly.
- Process transactions quickly with a complete explainable view for faster decision-making and regulatory compliance.
- Bulk remediate low-priority alerts to significantly reduce false positives and improve backlogs and workflow.
- Tailor rules based on AI-generated priorities to adapt to new threats and business outcomes.
Insights to drive business decisions
- Dashboard view of valuable insights.
- Explains everything from rule performance to team performance.
- Helps manage the team.
- Empowers you to make informed decisions regarding changes to rule thresholds.
Lumon has provided overseas payments and foreign exchange services to private individuals, small-to-medium enterprises (SMEs), and larger corporates for over two decades.
HTB is working to stay ahead of the rapidly evolving financial crime landscape, and the growing sophistication of fraudsters. To support this work it was looking for a transaction monitoring and screening solution that would meet the needs of its growing customer base while safeguarding the bank’s reputation.
Transaction Monitoring FAQ
The ComplyAdvantage API enables you to integrate your systems with our services to automate many of the functions available through the web user interface. Our API follows the REST convention and accepts and returns JSON data. View our API docs.
The transaction monitoring solution uses an advanced rules-based system to evaluate the AML/CTF risk of a transaction in real-time. These rules include:
- Simple rules: Rules that perform a check on the data within a transaction
- Aggregate Rules: Rules that track activity over multiple transactions (e.g., velocity rules)
- Behavioral Rules: Rules that compare with past activity (e.g., average transaction amount)
- Risk Pattern Rules: Rules that cross-reference activity against a known AML/CTF risk pattern
These rules are created and deployed during the implementation of your solution as this allows you to concentrate on the areas that will benefit your business the most (i.e., resolution of cases).
It is possible to select and export transaction data as a CSV file to use outside the ComplyAdvantage platform as needed. This contains all input data as well as additional output such as rule and alert information from the system.
Rules are completely customizable. Our transaction monitoring system can run on any data that you provide to us (data that is captured within a transaction). This not only allows the engine to detect suspicious scenarios specific to your financial institution but also allows the tool to speak in your language, using your own variables, codes, definitions, etc., that are unique to you.