Advanced Risk & Compliance Management

According to money-laundering legislation all individuals and organisations involved in financial transactions must be unequivocally identified and legitimised at all times. Apart from the business partners directly involved, such as a primary or secondary applicant and guarantors, this affects all other partners connected with the transaction (sales personnel, financial beneficiaries, authorised signatories, persons with authorised control functions, etc.). Moreover, business enterprises have an interest of their own in avoiding risk-prone transactions as defined by their own corporate governance through acquiring a precise knowledge of the parties they are dealing with.

The afb Business Service ‘Advanced Risk & Compliance Management’ addresses this need, offering reliable external data sources with the current profiles of more than 650,000 persons and organisations and dedicated sanction, PEP and embargo lists. In addition, enterprises can integrate their own lists of any partners they wish. This means that risk-prone business partners can be identified quickly and reliably.

Features Advanced Risk & Compliance Management

  • Legitimation and identity checks on all persons and organisations involved in a given transaction
  • Flexible, results-based individual or automated audits of entire or partial inventories using certified algorithms
  • Individually definable consultation of current data bases with more than 650,000 profiles of persons and organisations
  • Automatically generated hit list for manual or automated processing
  • Freely configurable search strategy and benchmarks
  • Automatic entry of search results in the hit list when these sufficiently match a defined set of rules
  • User-friendly processing of the hit list including verification, upload of documents and automatic dispatch of messages
  • International application capability due to country-specific configuration of relevant databases

    Advantages at a glance

    • Easy maintenance: search strategy, benchmarks and matching probability can be administered online via a common surface.
    • Full flexibility: the afb Business Service enables both event-driven case-by-case assessment where specific violations are suspected as well as regular identity checks of the entire or partial inventory in procurement,sales, accounting and human resources.
    • Greater cegal certainty: precise adherence to the identity checks required by law as well as documentation that is in conformity with the law provide more legal certainty and certainty of action.

     

    • Greater efficiency: streamlining and digitisation processes lead to more efficient operations.
    • Easy integration: integration into existing application landscapes is facilitated by a service-orientated architecture and standardised interfaces.

     

    For more information, please contact us

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    Case study

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    Brochure

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    Fact sheet

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    Case study

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