This enables built in transaction monitors to analyze and report on data elements from all modules including transactional, customer KYC profile data, watch list returns and payments data. The result in a 360-degree view of risk with account and transaction tracking monitors that can be easily visualized and actioned on dashboards, alert messages, case management escalation or drill-down reports.
Recent changes to legislation expects AML Policies to implement risk-based approaches to compliance programs driven by best practice standards such as FATF’s Risk Based Approach (RBA). FxOffice has built-in Risk Scoring the can calculate customer risk rating, transactional risk scores, country (geographic) risk and behavior pattern risk within a highly sophisticated and completely customizable Risk Scoring engine. Moreover, the Risk Scoring engines are capable of intervening workflow empowering compliance-centric operating framework.