For 2019: RegTech platform supercharges AML Compliance and GRC


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Platform technology’s Network of Applications and Ecosystem of Data transform the work of GRC

By Frank Cummings, CEO of AML Partners

The launch of RegTech OneTM, our extraordinary RegTech platform, was the highlight of 2018 at AML Partners—and it is the future for Governance, Risk, and Compliance. Embracing and leveraging the power of platform technology supercharges AML Compliance and horizontal governance in GRC. Here’s why:

The RegTech One platform provides for users a foundation from which to leverage APIs and platform services to accomplish every AML Compliance task and every horizontal-governance challenge central to Governance, Risk, and Compliance.

RegTech One facilitates the creation in-house by authorized users of a Network of Applications and an Ecosystem of Data—across the enterprise. You might think of it as the hub of a wheel with as many spokes as needed or compare it to iOS or Android in the ways that these mobile platforms provide a foundation on which users build their unique environments suitable to their own goals.

The RegTech One platform facilitates for RegTech users whatever it is they need—whether it’s any or all of Compliance and GRC tasks like KYC/CDD on-boarding, tracking and responses to Key Risk Indicators, sanctions screening, adverse-media reporting, risk-rating, behavior monitoring, transaction monitoring, identity verification, vendor on-boarding, myriad regulatory Compliance with its attendant data and reports, automated notifications related to KRIs, and so on and so on and so on.

This is the age of the API economy. Businesses are no longer at the mercy of black-box software packages that fit like XL pajamas on a five-year-old. Enterprise users can finally and fully leverage individual APIs to create tech systems that perfectly match the needs and goals distinct to their enterprises and operating environments. That is precisely what RegTech One offers to users—a Risk-ready service-loaded platform on which they may create a finely tailored system to match their exact needs.

We at AML Partners call that the Network of Applications made possible by RegTech One. But it’s not just the creation of a Network of Applications. RegTech One simultaneously facilitates an Ecosystem of Data available to that Network of Applications.

Imagine, for a moment, RegTech One as that hub of a wheel with many spokes, which are the API applications crucial to your enterprise. RegTech One makes available to those spokes—i.e. the collection of applications in your unique Network of Applications—an Ecosystem of Data from across your enterprise.

In functional terms, this means that data subscriptions and collections that support your Risk-related tasks like KYC/CDD can also help with managing Risk related to existing customer accounts or provide early warning of signs of fraud or potential default. With the RegTech One platform, users can now identify Key Risk Indicators andthen mitigate those risks with networked APIs accessing an Ecosystem of Data.

That is why the launch of RegTech One in 2018 was the event of the year for AML Partners. And it’s why we are so excited about 2019 and the future of our Company and the value of our solutions for our clients and strategic partners. Platform technology and the API economy are transforming the landscape of AML Compliance and GRC. This is technology at its best—boosting effectiveness and efficiency for enterprise users, mitigating Risk, and helping them provide the best possible service to their own customers.

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RegTech 100--AML Partners named to RegTech 100 List for AML and RegTech solutions

RegTech One—Creating a Network of Applications and an Ecosystem of Data

RegTech One, the ‘Power of Everything,’ facilitates for users the creation of a Network of Applications and an Ecosystem of Data from across the enterprise by providing a single platform from which to run a network of multiple regulatory-compliance applications at institutions of every size. And users can configure RegTech One to make data from across the enterprise accessible to the entire Network of Applications.

AML Partners engineered RegTech One to be endlessly configurable, scalable, and API-ready. Leveraging the API Economy and infinite user configurability, RegTech One provides a platform for every eGRC requirement—both today’s and those yet to come. With embedded ‘Comply on the Fly’ technology, RegTech One users adapt, extend, and customize their system at will—in-house at any time. And RegTech One facilitates transparent knowledge sharing across the enterprise by integrating disparate data sources such as Content and Relationship Management Systems, core banking systems, and 3rd-party data systems. With drag-and-drop-configurable event and action engines, RegTech One users analyze, inform, and act—with real-time data across the enterprise.

SURETY Eco Enterprise, the End-to-End AML Ecosystem

SURETY Eco Enterprise, the AML ecosystem, is another of AML Partners’ top products. Powered by the RegTech One platform, SURETY Eco fully integrates CDD/KYC, Behavioral Monitoring with optional FinCEN 314a (Subpoena Searching), and Sanctions Screening. With SURETY Eco, an institution’s entire Compliance program resides in a single fully integrated powerhouse software ecosystem—highly configurable, dashboard-driven, and featuring a comprehensive Query System for cross-module data storage and analytics.

SURETY Eco Enterprise is a true leap in BSA/AML Compliance. In stunning contrast to stove-piped, fragmented systems, SURETY Eco delivers single-solution integration of KYC/CDD, Transaction Monitoring, Sanctions and Negative-news Screening, and optional FinCEN 314a/Subpoena Processing.

Learn More

To learn more about AML Partners’ AML software solutions and RegTech platform, contact us today. See how AML Partners’ emphasis on innovation, effectiveness, and efficiency in AML and RegTech can transform eGRC efforts at your institution.