As the system retains previous input entries, quarterly or annual updates can be completed within minutes. Each version remains filed in the register.
Save on human resourcing
Typically banks will commit half a dozen senior executives to the AML/CFT risk management process. Many meetings will take place which is taxing on the bank’s operational costs. The AML360 banking solution for completing an AML banking risk assessment can be completed within two hours.
Comprehensive yet Simple
The AML360 risk analysis report summarises data and provides an explanation of each risk that contributes to the overall risk rating. The overall risk rating represents results of the key risk divisions. These key risk divisions are what are known to increase the opportunity of ML/TF and are required by AML laws to be analysed.
Following distribution of the risk analysis report, should any matters require actioning, the case management feature allows assignments to be distributed to staff, tracked and reported.