RegTechONE delivers NO-CODE flexibility and API extendability in exceptional BSA-AML Software
AML Compliance technology offers more than ever before. And now financial institutions can achieve AML Compliance and GRC with a single unified solution–RegTechONETM. RegTechONE provides end to end BSA-AML Compliance in one API-driven solution–no coding required.
AML Compliance Professionals no longer need to wrestle with siloed systems and disconnected data. With RegTechONE, financial institutions seize the power of data analytics and end-to-end integrated AML Compliance software. Key features include the following:
- Revolutionary ecosystem integration of KYC/CDD software, Sanctions Screening software, and Transaction Monitoring software with an optional FinCEN 314a module.
- Cross-Module Query System accesses all data in all base modules
- Fully configurable Question Management System with array of trigger options
- Allows you to work smarter and more efficiently—and with customized analytics
- Reduces your research time by more than 50 percent
- Facilitates ‘Your Work Your Way’—Dashboard ease, highly configurable, dynamic workflows, and user-based permissions
An entire AML Software ecosystem: Fully Integrated Compliance in no-code modules rich with API options
RegTechONE, an end-to-end BSA/AML Ecosystem, fully integrates CDD/KYC, Transaction Monitoring with optional FinCEN 314a, and Sanctions Screening. Imagine that: Your entire Compliance program in a single powerhouse software ecosystem—highly configurable, dashboard-driven, and featuring a comprehensive Cross-Module Query System linked to RegTechONE’s comprehensive digital data storage and analytics system.
AML Partners’ proprietary Cross-Module Query System is the key. With RegTechONE, you may create any query against any data across all of the base modules of the BSA/AML ecosystem. Do you need to know all customers with a false-positive OFAC hit, more than 10 false-positive AML cases opened within the last five years, and who are from Colombia? Just query it. Not only will RegTechONE return the results of that query, but you may choose to run that query as a behavior and direct the system to create a research case when those conditions exist.
RegTechONE is a true leap in BSA/AML Compliance. In stunning contrast to stove-piped, fragmented systems, RegTechONE delivers single-solution integration of KYC/CDD, Transaction Monitoring, Sanctions and negative-news Screening, and optional FinCEN 314a/Subpoena Processing.
Your AML Compliance workflow–Your way
RegTechONE features dynamic workflow capability; this means that your existing workflow becomes the application’s workflow. And with RegTechONE, users create and edit workflows via configuration–no coding required. During implementation, we will help you replicate your workflow in RegTechONE’s software ecosystem. And we will teach you how to modify it as your needs change. RegTechONE’s dynamic workflow gives you full control over your entire BSA/AML AML/CTF software ecosystem.
Our BSA-AML Software Ecosystem in Action
Because RegTechONE integrates CDD/KYC, Transaction Monitoring, a FinCEN314a option, and Sanctions Screening, your AML/CTF analytics may be as simple or as complex as each individual customer account requires. RegTechONE features built-in dynamism—in Risk Modeling, in the Question Management System, in Workflows, and in the Cross-Module Query System. This is your AML Compliance work—now you can do it your way with optimal efficiency and effectiveness.
•KYC/CDD Software
RegTechONE’s KYC/CDD software module continues to deliver extraordinary functionality and in-house configurability. With RegTechONE’s trigger-rich Question Management System and customized risk modeling, you may immediately comply with all current laws and rules. And with RegTechONE, the KYC/CDD module now automatically initiates the lifecycle relationship-management phase by integrating automatic ongoing due diligence (ODD) on every accepted customer.
•Transaction Monitoring Software
RegTechONE also integrates its transaction-monitoring system, which includes Behavior Monitoring. We include pre-configured behaviors that you may choose to run. And you may also choose to create your own through the advanced Cross-module Query System; this greatly extends your capability to monitor other modules and behaviors not predefined in order to determine truly suspicious activity. For example, using the integrated modules, you might choose to flag all transactions over a million dollars for customers headquartered in Saudi Arabia who are in the arms industry and have had a negative-news hit. You may configure the system to run that query on any schedule you wish, and you may choose to create research cases based on your perceptions of possible suspicious activity.
RegTechONE can also automatically generate CTRs and populate most of the information for the SARs, and RegTechONE also gives you the ability to create your own case management system within the behavioral monitoring module—you decide who sees and does what and when.
•FinCEN 314a Software
You also have the option of adding to your Behavior and Transaction Monitoring a fully integrated FinCEN 314a subpoena-search system that conducts a fully encrypted workflow-based fuzzy-logic search of the two FinCEN lists. Data is fully encrypted from the time you upload each FinCEN list. Only those two individuals registered in FinCEN and registered in RegTechONE may see any of the data, determine whether there are false positives, or grab the transactions for true hits. All that functionality exists—within the 314a module as a part of the RegTechONE ecosystem.
•Sanctions Screening Software
The last piece of the AML/CTF puzzle is sanctions screening. RegTechONE includes fully integrated, automatic download of both the sanctions and non-sanctions lists from OFAC. RegTechONE’s Sanctions Screening also provides you the option of turning off or on the scanning of “weak a.k.a.” from OFAC. You may also choose to add your own subscription data services for enhanced sanctions lists. You may also submit your own internal lists—for example, employees and vendors—to be screened automatically.
RegTechONE’s fully integrated screening module boasts five separate fuzzy logic algorithms, two of which are proprietary in addition to Soundex, Jaro-Winkler, and Levenshtein Distance. Our integrated screening system easily processes official lists, but it also screens for various attempts at deception such as purposely concatenated words like “Irantherepublicof.” RegTechONE’s screening module will catch Iran even though it was concatenated. And in keeping with RegTechONE’s commitment to customizability, each algorithm has fully configurable parameters that you control according to your own Compliance program. Moreover, RegTechONE also boasts robust whitelisting, deduplication, and secondary evaluation.
User-Friendly Features in No-code AML Software
RegTechONE delivers in-house control and customization in a user-friendly interface. Each user may configure a custom dashboard in order to track progress and data analytics. And our commitment to “Comply on the Fly” technology means that authorized Compliance users may instantly adjust risk models, data-collection details, and so on. And accessing advanced analytics is as easy as making a query, the results of which are delivered to authorized users.
Compliance officers will also appreciate the fully configurable user-based permissions system. With RegTechONE, the authorized Compliance user determines who may edit or view what and when. For instance, the system may be configured to send automated emails to IT when an error condition exists in any log. RegTechONE will also monitor other system logs if you so desire.
RegTechONE also includes an advanced and fully configurable email notification system so that users are notified when they are required to take action. For example, designated users would get an automated email when a file needs periodic review or any other action.
Moreover, as with everything within RegTechONE, every keystroke is audited. Every user action—the who, what, and when—is logged and available for review by authorized users; and RegTechONE will even show you how each change compares to the prior entry. With RegTechONE, user accountability is both transparent and verifiable at all times.
Ready to Learn More?
The stakes are high and getting higher for AML Compliance. RegTechONE will transform your efficiency and effectiveness as it puts an entire BSA/AML ecosystem and all its critical data at your fingertips. Contact us today to get more information and to schedule a RegTechONE demonstration or proof of concept.
