OMNIEnterprise Anti Money Laundering

OMNIEnterprise – Anti Money Laundering

Infrasoft Technologies, a leader in innovative Banking & Financial Solutions proposes OMNIEnterprise, a complete end-to-end solution designed to automate the regulatory reporting, transaction monitoring, risk assessment & customer due diligence mandates of banks and financial institutions. The solution automates the entire regulatory reporting lifecycle from detection, analysis to SAR/STR filing

Although most of the clients using OMNIEnterprise happen to be banks, the solution has made inroads into the insurance, asset management, and money service businesses with separate versions of the product rolled out for each segment. Comprehensive sets of money laundering scenario libraries have been incorporated into all versions of OMNIEnterprise to ensure the generation of accurate alerts from day one.

Solution Brief

At its heart, the solution creates and maintains a rich pool of money laundering specific customer profiles across products, instruments, and geographies thereby providing a 360 degree view of every business relationship. Such profiles are in lines with local AML regulations and contain useful indicators of money laundering activity.

Further, OMNIEnterprise provides advanced detection techniques to uncover suspicious activity, unusual customer behaviour, suspicious associations between customers, and rapid changes in account/customer behaviour. A Robust customer identification module ensures efficient filtering of new customers and clear assessment of business relationships with PEPs (Politically Exposed Persons), fraudsters etc within the firm at any point in time

A comprehensive risk scoring model provides an enterprise wide categorization of customers into high, medium and low risk categories based on various criteria determined by both local regulations and internal risk assessment policies.

A feature rich case management module built as a wrapper around the detection modules facilitates easy case creation, circulation, and reporting across various departments of the organization. An automated case generation capability allows alerts to be mapped to different users for whom base level cases are created and managed by the system.  The system currently supports the statutory reports of the USA (FinCEN), UK (NCIS), Bahrain (BMA), Nigeria (EFCC), India (RBI), Indonesia (PPATK), Doha, and Qatar

Delivering Global Compliance

The solutions follows a multi-entity and multi-lingual design thereby enabling group wide compliance for organizations with operations across different countries and compliance regimes that follow different due diligence and reporting measures. The multi-lingual feature ensures support for reports, customer profiles, black-list searches etc in multiple languages. Further, the system is capable of integrating with multiple source systems across different jurisdictions and yet maintaining consistent customer views. The system also carries out detailed surveillance of the organization’s payment gateways and provides alerts on high risk payments being sent or received by customers.

A Solution for your Needs

·         Addresses the rights of all associates within the organisation to report suspicious activity

·         A solution tailored and customised to your specific business requirements

·         A comprehensive data model KYC to ensure that you have a global standard KYC with localized reporting for statutory requirements

·         A modular deployment, to protect your existing technology investments

·         Give you flexibility to choose right modules based on current & future needs

Key Services

·     Defining your KYC policies, which are compliant with your legal requirements

·     Integrating the AML framework with your workflow

·     Integration projects required for OMNIEnterprise modules with your existing systems and gateways

·     Data-mining & warehousing for your existing transaction database

·     Determining the rules framework to actively monitor suspicious activities

·     Bringing in ‘Best Practices’ for AML compliance and monitoring

Key Features

·     Comprehensive KYC

·     Customer Identification Process

·     Blacklist filtering (OFAC, FATF, EU, World-Check)

·     Ethnicity Parameters for identifying multiple identities

·     Rules based filters

·     Transaction Monitoring (SWIFT, Treasury, Retail, Trades, Proprietary formats, etc.)

·     Case Management (Financial & Non-Financial)

·     Interfaces to multiple Back Office systems

·     Integration with existing Business Workflow processes

·     Automated Reports generation

·     Integration to Document Management

·     User Friendly Front-end Interface

·     Regulatory Reporting to monetary authorities

·     Automated Updates of Reporting Templates