POSTS
PORTFOLIO
SEARCH
SHOP
  • Your Cart Is Empty!
20 Birchin Lane +44 (0) 203 006 6405
THE CHALLENGE
Anti-Money Laundering / Financial Crime is a particularly challenging area of regulation for banks and even more so for large, geographically diverse institutions. 
The challenge is how to reduce the 95% of false positives.
HOW DID WE GET HERE?
Thirty years ago, people who worked in Financial service were the pillars of the community. Your bank manager might have been a little scary and dull but he was 100% trustworthy.
However, two decades of extremes have led to an erosion of trust confidence which has resulted in governments and regulators almost fining the industry out of existence. The industry has responded by throwing people at the problem and now compliance accounts for nearly 1-20 of all people in the industry.  This overhead is unsustainable. 

The challenge for any senior AML manager is clear how to reduce the number of false positives and hence cost of their team without multiplying business risk.

Heliocor’s Robolitics™ platform can produce 25-50% reduction in false positives (as demonstrated in tests); whilst also reduce investigation time of these remaining alerts. 

 Over time Robolitics™ will go “well beyond” these targets.

HOW DO WE DELIVER THIS STEP CHANGE? 

Robolitics and the Compliance Appliance™ have been built around this problem. Focusing on leveraging the best of the old and the potential of the new. Designed from the bottom up to deliver a step-change improvement. Robolitics™
Simplifies the creation and tuning of rules
Our robot development kit enables you to quickly create and tune rules, enabling you to understand the nature of your business risks.
Removing repetitive tasks 
And enabling the business to better understand the risk and focus effort where it is most important. 
Cuts investigations time 
On alerts by surfacing comprehensive date in the transaction, on the market, and historical behaviour.
Clustering similar issues 
Uses AI to group together alerts enabling them to be handled more efficiently.
Delivers customer sensitive compliance 
Enabling you to tune alert sensitivity to the client risk profile. 
Uses Deep Learning 
To identify new risks and treats.
Propose best action
Based on previous responses to similar alerts.
Integrates with your KYC process 
Enabling you to model client risk dynamically and automatically depending upon behaviour and transaction patterns 
AML / FINANCIAL CRIME COVERAGE
Definitions of the scope of AML and Financial Crime vary significantly between institutions and market areas. Robolitics™ contains over 40 out of the box Robots to provide high degrees of compliance.

These robots can be easily updated as regulations and interpretations change. The list below describes the areas covered by our AML / Financial Crime Module and some of the individual Robots which monitor in real time as well as looking for patterns of behaviour over time.

Sanction & PEP Alerts

Integrating with your current systems or through our partnership with LexusNexis  we provide full checking of Clients Counter Parties and Transactions according to High Risk Countries, Sanction  and PEP List matches Internal "Black Lists" and "White Lists".  We then USE A.I. and Machine Learing to improve matching and reduce workloads and repeat alerts.

Unusual Transaction Patterns

Abnormal payment patterns, Deposits / Withdrawals in Same or Similar Amounts. Rapid Movement of Funds. Significant Change from Previous Average Activity. Multiple Similar Payments, Single or Multiple Cash Transactions: Large Transactions. Transaction Inactive account.

Layering

Avoidance of Reporting Thresholds. Linked accounts payment. Linked transactions alerts – From and too the same account. Multiple payments to accounts, Unusual Patterns Originators / Beneficiaries in Funds Transfers. Repetitive behaviour below limits.

Key Word Searches

Associated Address, Multiple Recurring External Entities Multiple accounts similar names. Unknown Remitter / Beneficiary Names. Significant payments Key words alerts e.g. charity organisations.

Unusual Behaviour on Account

Unusual behaviour alerting Transaction Values, Transaction Volumes, Transfers Between Correspondent Banks, Transfers Between Customers & External Entities. Unexplained wealth outside normal transaction patterns.

KYC Linked Alerts

Inactive Account alerting (time elapsed), KYC Risk Status Lapsed, KYC outside mandates transactions. Unclear Beneficial Ownership.
YOU MAY ALSO LIKE

Transaction monitoring

mproving monitoring with AI & Machine Learning. surveil across products and asset classes to identify malfeasance with solution

Payments Edition

Designed to support companies providing payments services and solutions to a combination of retail and or corporate customers.

Technology overview

Robolitics is available as a Cloudera Stack based on Hadoop for high volume and real time mission critical solution with hot failover