OVERVIEW

The challenges faced by financial institutions (FIs) regarding money laundering activities have increased substantially in the globalization era. Additionally, there is the rising menace of terrorism financing and counterfeiting. As money launderers become more sophisticated, the effectiveness of Anti-Money Laundering (AML) policies is under heightened regulatory scrutiny. Probability of banks facing rigid penalties and reputation loss in case of shortcomings in AML management have increased. AMLOCKTM is ideally positioned to help FIs and other organizations subject to compliance requirements. It is compliant with all the relevant KYC, transaction monitoring and regulatory reporting requirements and assists banks in proactively detecting and managing money laundering transactions.

FUNCTIONAL VARIANTS

Lite

AMLOCK Lite

AMLOCK Lite caters to small and medium non-banking finance companies (NBFCs). It is designed for NBFCs whose regulatory compliance requirements are lesser on account of smaller operations and business complexities. It enables these businesses to fully comply with AML regulatory requirements, covering KYC Processes, Sanction List Screening, Risk Classifications, Transaction Monitoring and Regulatory Reporting, including Suspicious Transaction Reports and Currency Transaction Reports.

AMLOCK Analytics

AMLOCK Analytics brings the latest dimension of Analytics and Artifical Intelligence to uncover hidden AML patterns / risks. This model uses various statistical methods and machine learning algorithms to derive an analysis and predictions based on institution specific historical data. It helps financial institutions to meet their most critical challenge of managing huge false positives.

Analytics
Cloud

AMLOCK Cloud

AMLOCK Cloud is an integration model for the lighter version of AMLOCK . It is a single end to end solution with the major AML features like KYC, Risk Classification, Transaction Monitoring and Reporting to cater to all AML compliance and reporting requirements of a Financial institution. It would bring in the advantage of reducing the operational costs as compared to On-premise installations and improve efficiency by centralizing storage, bandwidth , memory and processing. Deployment on cloud also offers greater flexibility in providing future product up-gradations / enhancements.

WHY AMLOCK

MILESTONE

0 Million +
Daily transactions handled for a bank
0 Million +
Customer accounts handled for a bank
0 Countries
Largest Multi-country implementation for a bank
0+ Users
Largest number of users in an Institution

FUNCTIONAL MODULES