New Intix report finds data compliance woes still haunt fintechs
xCOMPLY links transaction data to many more data sets such as master data, KYC/CDD data, financial crime data, and additional ones in order to provide contextual and holistic insights on transactions. This supports compliance investigators in their analysis as every piece of data counts. Holistic insights on client activities aim to help financial institutions avoid non-compliance.
Investigators struggle to properly analyse client payments as correlating data sets across dozens of systems is very complex and impossible to perform manually. Banks require automated and deeper insights on client activities and transaction origin to avoid non-compliance.
Investigating growing volume of transactions and responding to regulators' enquiries in a timely manner are the main compliance challenges at financial institutions. 50% of the time of investigators is lost in searching in different data silos, whilst the pressure to quickly respond to post SAR/STRs RFIs from Financial Intelligence Units is surging.
Banks struggle to correlate data sets across dozens of internal systems whilst automated data management processes provide an easy-to-navigate single-window view into transactions.
Every piece of data counts when analysing a transaction for compliance and fraud. Context-based analysis has proven to be more efficient. Know your transaction (KYT) provides a 360° view on a transaction by combining all events around a transaction such as non-payment messages, master data, KYC/CDD, compliance & fraud analysis results.
xCOMPLY provides data scientists with a centralised source for all data pipelines required for AI & Machine learning models and avoids to re-invent the wheel for each AI / ML implementation.
xTRAIL supports the visual comparison of MT and MX messages in the context of ISO 20022 migration.
The MT and MX message payloads are associated so that the end-user can open a dialogue where both messages are shown next to one another.
The evolution of cross-border payments is more exciting than ever. However, ...