AML Software

Apply a Risk-Based Approach Favoured by Regulators

AML360 is AML compliance software that is user-friendly and intuitive. The technology simultaneously collects data, measures risk, reports on actions to take and records for evidence-based monitoring. With a simple and easy-to-use interface, it offers customisable workflows and automated processes. Anti-Money Laundering Compliance Officers can easily manage a compliance framework and identify suspicious activities. A complete AML/CFT digital compliance framework can be implemented within 24 hours.

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AML Software Services
  • Customised business solutions using regulatory technology
  • Automation for profiling and reporting
  • Evaluating compliance status
  • Evidence-based compliance

DIRECTORS & EXECUTIVES

Governance, Risk & Compliance

Undeniably anti-money laundering supervisors are increasing expectations of senior managers, risk executives, and board members. Subsequently, compliance systems must demonstrate sound reporting. Therefore, AML360 transfers technical knowledge through data visualisation. That is to say, we eliminate the noise and complex reports by relying on heat maps, charts and graphical displays. Nevertheless, the reporting dashboard provides filters for deeper analysis. Management will always be aware of compliance issues that require their attention.  Moreover, our streamlined approach to transferring knowledge, specifically with data visualisation, is AML360’s success in featuring the best AML software. Thus, when AML Supervisors require evidence-based reporting, a click-and-point function will immediately produce analytical reports to satisfy regulatory requirements. Start with an AML Health Check.

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AML software
anti-money laundering

COMPLIANCE LIFECYCLE

Ongoing Monitoring

Because anti-money laundering risks are continuously changing, AML360 software is designed to track and report simultaneously. Nonetheless, money laundering reporting officers must ensure that reliance on technology meets their unique business requirements. That is to say, AML360 can demonstrate that configurations are tailored to the client’s current business environment. 

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AML SOFTWARE SERVICES

Optional Dedicated AML Professional

You can opt-in to managed services with AML360’s AML software. Consequently, we appoint you a dedicated AML compliance professional experienced in your industry. Your true professional has continuous oversight of your AML compliance framework. Critically, by utilising AML case management software, anti-money laundering compliance officers will easily manage regulatory obligations.  Most importantly, your dedicated professional is available to address any ad-hoc queries. They will alert your anti-money laundering reporting officer when a matter requires attention. This compliance management oversight includes regulatory technology for your business and is offered at a fraction of the cost of a full-time or part-time compliance professional. 

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AML compliance software
  • From USD520 per month.
  • Continuous compliance oversight.

In recent years more firms have turned to managed compliance services because they can leverage compliance teams quickly and efficiently to implement and maintain a compliance program. The alternative of hiring an in-house full-time equivalent employee (FTE) may simply not be affordable. A qualified AML/CFT compliance professional with 10+ years experience, can expect a salary of circa USD80,000+. Once employed, AML/CFT compliance systems need to be established. Many firms, paralysed by indecision, simply do nothing. This can lead to bad regulatory, reputation, and business outcomes. AML360 Regulatory Technology acts like an AML/CFT compliance professional. The software simultaneously collects data, analyses and reports to provide AML/CFT compliance and risk management expertise. By utilising the AML360 compliance account, your business will reduce human resourcing costs and fortify the AML/CFT compliance framework. The platform is fully customised to the nature, size and complexity of business and sector.
A reasonable AML compliance program must include an experienced money laundering reporting officer, include the involvement of senior management, have adequate systems in place and adopt customised policies and procedures, train staff, and maintain records. AML360's managed services incorporate each of these elements at a fraction of the cost to hire a full-time equivalent professional. In doing so your AML compliance costs can be reduced between 50% to 80%. Because we take advantage of regulatory technology, we also ensure your business gains compliance efficiency.
Using a third-party compliance firm to provide your compliance services, including utilising regulatory technology, offers many benefits over hiring one or more full-time employees. AML360's managed services can implement a compliance program quickly and efficiently with an experienced team that applies an industry-wide perspective. Our team of compliance professionals have more regulatory knowledge than any one person a firm could hire.
When an issue arises, your firm can appeal to AML360's management for corrective action. Our firm, unlike a person, does not take a vacation or sick days or ask for a promotion. Also, turnover among internal compliance officers has become an industry-wide problem. Faced with a limited career path, many compliance officers leave after a few years to make more money or to experience a different type of firm. In these circumstances your firm must go through the decision-making and hiring process all over again, creating business disruption. AML360's managed services eliminate all these issues.
AML360's managed services bring an independent perspective to the compliance function. Institutional clients and regulators value this independence and often give more weight and credibility to a compliance review prepared by an outside party rather than somebody reporting to senior management. Conversely, an in-house AML compliance officer is inherently conflicted because he/she reports to senior management that may be the cause of the problem. In many cases, the AML Compliance Officer gets blamed because senior management views the compliance officer as the cause and not the solution. Unlike an outside firm that has many clients, an in-house AML compliance officer faces significant disruption if a compliance breakdown fractures the relationship with management.
What are the signs that a firm has done too little to implement an effective AML compliance program? They fail to spend enough on compliance. Firms also fool themselves into thinking they have done something significant. For example, they buy a compliance manual online or adopt policies and procedures but decline to implement the requirements. A do-nothing firm may inform an internal employee that he/she is now the AML Compliance Officer and allocate minimal resources to compliance. AML Supervisors often cite these practices in various enforcement actions as examples of failures to implement effective compliance programs. Failing to implement a compliance program also will not work with institutional clients. Once a firm makes it onto the regulator's bad actor list, expect to see them on a regular basis.