Why one-size-fits-none in AML tech—and how RegTechONE delivers your solution
Each financial institution owns its risk—and must also own how that risk is mitigated. That’s the heart of a truly risk-based approach to AML Compliance. And that’s why every AML platform implementation of RegTechONE is uniquely tailored to each client institution.
At AML Partners, we partner with institutions to implement RegTechONE in a way that aligns precisely with their distinct risk landscape, workflows, and AML Compliance goals. We do this through a step-by-step, collaborative process—one that we liken to building from a blueprint. You define the structure to your exact specifications; we help you build it.
In this article, we walk through the key phases of a successful AML platform implementation—and why smart planning at the start is what drives long-term success.
Part 1: Laying the foundation—The Business Requirements Document (BRD)
The process begins with clarity and commitment. AML Partners assigns a dedicated project executive before the project formally begins. Their job is to ensure we understand all of your issues, wants, and needs—gathered in a single foundational document: the Business Requirements Document (BRD). A strong and thorough BRD is at the heart of successful AML platform implementation.
This document captures exactly how your institution will implement its own Risk-Based Approach in RegTechONE. For example, if you’ve licensed transaction monitoring, the BRD will specify the exact rules or analytics you want to run, and where those rules originate.
These rules are not generic. They emerge directly from your institution’s risk profile and your completed Enterprise Risk Assessment—an analysis that considers risks related to geography, products and services, customer types, money laundering, terrorist financing, fraud, and more.
For example, suppose your institution has identified risk in a particular geographic locale—but only when that customer also uses a demand deposit account. Your BRD might specify a rule that flags this exact scenario in RegTechONE’s behavior monitoring module. As part of the mitigation plan, the BRD would also specify the KYC onboarding data you must collect and verify to monitor this risk effectively.
The BRD ensures that everything is defined up front: which risks matter, how you’ll monitor them, what data you’ll collect, how you’ll risk-rate customers, and how the workflows and system logic should behave. This is your AML Compliance blueprint.
Part 2: Designing the build—The Functional Specification Document
From your completed BRD, our implementation specialists develop a functional specification document. This is where your Compliance objectives become technical design.
Every field, workflow, rule, and dashboard view is detailed based on your BRD—no assumptions. A successful functional spec depends entirely on the completeness and clarity of your initial blueprint.
Part 3: Project planning and kickoff
With a clear design in hand, AML Partners’ project manager collaborates with your team to finalize a detailed project plan for your AML platform implementation. This includes a timeline, milestones, resource commitments, and a formal kickoff. This plan becomes the guide for building and delivering RegTechONE as specified.
Part 4: Technical implementation
Now, the implementation team begins executing the build, delivering the required functionality as defined in the project plan. Every detail comes from the blueprint—your BRD and functional spec.
Importantly, once requirements are on the project plan, they are treated as fixed. Any additions or modifications are handled through a formal change-management process. Depending on time and budget, changes may be incorporated in a Phase Two or addressed at the end of the initial implementation.
Part 5: Customer acceptance testing
Once the system is configured in your test environment, your team performs a thorough walkthrough of the entire system. This ensures everything aligns with the original requirements—both functionally and in support of your risk-based approach.
Part 6: Transition to production
In this final phase, all test data is removed and RegTechONE is primed for live use. The system is configured to receive production-level data, and one final validation confirms that everything is functioning exactly as planned.
Keys to success: Plan deliberately, mitigate precisely
In a complex Compliance ecosystem, there’s no such thing as a “small change.” Every rule, workflow, and data field plays a role in risk mitigation. That’s why we emphasize deliberate planning.
When institutions invest the time to define their risks clearly and plan their AML Compliance approach in full, they gain a platform that delivers meaningful mitigation from day one—and one that’s ready to evolve.
Because RegTechONE is built for configurability–with no-code workflow creation–your institution can adjust and adapt as regulations change, new risks emerge, or strategies evolve. With RegTechONE, your AML Compliance program stays aligned with your institution’s goals—and in your control.
Ready to build your Compliance blueprint on RegTechONE? Connect with us to explore how we tailor every part of your AML platform implementation to your institution’s unique risk profile and AML Compliance strategy.
