We would like to introduce you to the most interesting software today. What makes this software more interesting than others…? Uhhmmmmm…. it’s not just the name, but the functions of this software- which helps both the banks and the common man protect their rights directly or indirectly. Every now and then we read about scams in the newspapers and curse the corrupt people and the government….. well, this software brings into bank’s notice all the suspicious transactions. Hence, saving the common man’s money which goes into pockets of a few kleptomaniacs.
FinAMLOR provides a comprehensive Anti-Money Laundering software solution that includes: transaction monitoring, intelligent detection tools, watch list filtering, alerts investigation, case management, workflow, regulatory reporting (STR), and management reporting. What is MONEY LAUNDERING??? Money laundering is the process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.
One of the main feature of FinAMLOR is KYC (know your customer). It incorporates the following attributes:
1)Customer due diligence – Ability to capture all mandatory customer and related information.
2)Identification – Support for user-defined identification requirements based on the individual or organizations.
3)Reporting – Comprehensive compliance reporting, including Suspicious Transactions Reporting, Threshold Transaction Reports (TTRs), International Funds Transfer Reports and Sanction and Watch List Reports.
These are the following perks of FinAMLOR:
1)It helps financial institutions meet regulatory requirements and improves risk protection
2)Improve efficiency through a configurable and robust workflow and alerts management system that allows compliance teams to process cases faster.
3) FinAMLOR also monitors and crosschecks customer and non- customer details for any possible violations of regulatory requirements.
So FinAMLOR is almost like the common man’s bodyguard saving them not physically but financially.