Validate Suspicious and Non-Suspicious Scenarios  AML Analytics has developed Transaction Monitoring Validator (TMV), a unique solution to enable Financial Institutions to validate their Suspicious and Non-Suspicious Scenario detection activity across multiple business segments.

TMV provides transaction monitoring scenarios, rules and settings validation enabling financial institutions to take a proactive approach in ensuring that existing scenarios work to indicate financial crime risk.

TMV has been created in response to increased international regulatory guidance on transaction monitoring which has driven a market need for an innovative RegTech approach. It allows for ongoing, frequent system testing and validation in line with regulatory requirements.

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Synthetic Data Solutions  TMV will help a financial institution to understand if scenarios are effective and functioning as expected, and to recognise what changes need to be made to threshold parameters to mitigate the ever-changing risks of financial crime.

AML Analytics generates synthetic data to validate each scenario specifically to defined segment and threshold parameters not just once but multiple times and with multiple variations of transactional sequences. Our synthesised data is designed to mimic real transactions from customers.

Our technology is system agnostic and testing is carried out without any IT integration or access to customer data. There are no data protection issues and total data security is ensured. TMV has been developed in line with globally recognised best-practice and according to current guidance from Regulators in response to the European Union’s Fifth Money Laundering Directive and New York State’s Part 504 AML Regulations.

Results Analysis

For TMV and Red Flag Test customers, secure login credentials allow access to our web-based transaction monitoring portal that provides a similar function to Analyser Online. It has been developed specifically for transaction monitoring data.

Our portal provides high level overview dashboards and data analytics for each Suspicious and Non-Suspicious Scenario in the form of colour-coded charts and graphs so that a financial institution will be able to understand performance levels and system limitations. 

Drill down into the graphs for a detailed analysis of alerts generated per segment and transaction type, with a level of granularity that is now expected by Regulators. The tool will enable customers to easily identify and analyse hits and misses from each Scenario in a test and facilitate understanding about performance levels and limitations of their transaction monitoring systems.

Our results analysis portal provides full reporting capabilities where all transactional data, entire transaction sequences and overall results can be easily accessed.