Navaera's On-Demand Anti-Money Laundering (AML) compliance solution is an advanced technology solution that empowers banks, credit unions and other financial institutions to implement world-class AML compliance programs regardless of their size or available resources. With automation features that reduce the burden of government agency or financial intelligence unit (FIU) filing and rich content to enhance users' ability to identify risks, the solution provides a platform for developing required controls and processes to establish a comprehensive approach to statutory or regulatory compliance.
Navaera's On-Demand AML compliance solution is cost-sensitive and easy to implement. It is compatible with most banking platforms, is audit-friendly and facilitates testing and effectiveness reviews. As a SaaS solution, it requires no special hardware and is easy to install and configure.
The solution provides a platform for financial institutions in multiple jurisdictions around the globe to achieve AML compliance and offers these features and benefits:
- Automated customizable transaction monitoring to spot AML red flags, such as unusual or prescriptive patterns in large transaction volumes or changes in customer behavior;
- Fully automated e-filing of government report forms including suspicious activity or transactions and reportable currency or electronic funds transfers;
- Automated customer risk rating and high risk account monitoring;
- Automated list scanning with customizable rules;
- Continuously updated PEP, statutory and regulatory list content from multi-jurisdictional sources; and
- World-class support for implementation, configuration, use and refinement.
Using its proprietary suite of high-performance products, Navaera's On-Demand AML compliance solution provides financial institutions with a solid foundation for efficient, effective anti-money laundering compliance. Using Fluorescent CRA, the system scans watch lists to monitor customer risk. It provides case management including automated transaction review and client risk-rating using EnScreen ADX. With EnView IMF, the system automatically identifies reportable transactions and provides features for e-filing all necessary reports to government agencies and FIUs. It is a fully automated platform that saves subscribers time, resources and money and provides an immediate ROI.