Profile - A standalone solution to guard against money laundering
Profile is a due diligence reporting solution that detects incidents and trends likely to indicate criminal or suspicious behavior.
This enables you to act faster and with greater confidence. With industry-wide fines imposed for non-compliance running into billions of dollars and around US$1 trillion being criminally laundered globally, it has never been more important to protect your business. But with protection comes increased complexity.
Banks now need to consider anti-corruption and financial crime rules and tax evasion stipulations such as FATCA, along with the traditional risks arising from money laundering.
How do you streamline your processes and enhance your insight? By working with an AML, risk and compliance software partner with a proven track record. Temenos delivers effective risk processes, vision and control, plus reporting and analysis applications that offer exceptional performance.
Financial institutions need an adaptable solution for identifying a broad range of money laundering instances, while ensuring its breadth does not generate a high rate of ‘false positive’ alerts. Built on 25 years of profiling experience, our intelligent detection engines manage this balance, reducing false positives to give you fast, effective and reliably accurate screening and profiling.
Temenos Profile provides an end-to-end AML solution, integrated with your core banking platform. Web-enabled, Temenos Profile customers benefit from:
- An 'out-of-the-box’ solution providing comprehensive customer and transaction profiling
- Real-time and batch processing and detection engines that are accurate, fast, easy to configure and simple to use
- A fully integrated system working with your core banking or payments system, flexible configuration and high performance with independently recognised speed and precision
- The lowest rate of ‘false positive’ alerts in the industry, without compromising your detection rates. Ensured through safe and accurate algorithms
- Seamless integration – Temenos Profile works with your existing system, built on open software standards, enabling you to profile and examine transactions and customers
- A sophisticated approach - increasing efficiency, mitigating risk, saving time and lowering data-mining costs for enhanced decision making and improved collaboration
- Customisable workflow manager tools - managed according to local requirements, including designating alert prioritisation, review and escalation hand-offs
- Customised reporting – allowing you to create and generate tailored reports based on selected fields, profile alerts and filter definitions
- Automatic report generator engine – generating reports on a daily, weekly and monthly basis
- Comprehensive dashboard – a graphical summary of the risks detected by score, type, volume, status and a number of other configurable criteria
- Flexibility – profiles can be as simple or comprehensive as required, enabling financial institutions to analyse all transactions, or specific accounts or defined segments, achieving high quality alerts