Products

Temenos Financial Crime Mitigation

A single product family incorporating Sanctions Screening, PEP Matching, KYC risk scoring and categorization, AML Transaction Monitoring and fraud mitigation, and support all user functions including alert management, case management, reporting and dashboards.

Used by over 300 banks globally (from the global tier 1 to smaller regional Fis), Temenos’ award winning Financial Crime Mitigation (FCM) product family enables banks and FI’s to avoid regulatory fines, detect fraud and mitigate reputational risks whilst improving throughput and optimizing cost all in line with the banks’ Risk Based Approach.

In terms of deployment Temenos FCM allows you to focus on the business problem of financial crime and compliance, offering ultimate flexibility, allowing clients to choose from private or public cloud, On-premise or to be consumed as a fully managed service (SaaS).

Either choose the entire solution or in part to meet immediate needs and pay only for what is used.

Why Temenos Financial Crime Mitigation

Industry Leading Levels of Detection Accuracy and False Positives

Industry leading false positive levels (Screen): sophisticated algorithms, smart contextual whitelists and robotic process automation, dramatically reduce overheads and costs. Record hit rate evaluation: clients report double their hit evaluation efficiency (a 250% increase while head count is up only 30%). Efficiency through AI: Proven combination of algorithms rules and Artificial Intelligence

Financial Crime - Olympic Swimmer

World-Class Performance & Resilience

High performance: Vertical and horizontal scalability or SaaS-based scaling ensures FCM delivers exceptional performance together with the highest possible availability whether on-premise or SaaS. A trusted, fast, and resilient solution, handling exceptional high volumes of transactions and throughput in the industry, the solution is relied upon from small financial institutions to very large banks.

Proven Behavioral Analytics, algorithms and AI combination

Based on key metrics such as income, spending patterns, and transaction types, a unique financial fingerprint or “DNA” is assigned to each customer. Together with prebuilt typologies and self-learning algorithms, this enables identification of both usual and unusual behavior.

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Enterprise-Wide Solution

Complete solution: for all financial crime mitigation needs from watch-list screening, KYC, anti-money laundering, and fraud prevention. FCM employs a risk-based approach monitoring ongoing transactions for continual risk assessment, thus enabling financial institutions to focus their effort and resources where most needed. Award winning: #1 best-selling compliance and risk management system (IBS Intelligence Sales League Table 2019). Leading FCM solution: as highlighted by IDC, Ovum & KapronAsia analyst review reports

Flexible and Configurable

A flexible and configurable solution that is fit for institutions of all sizes in all regions can run on-premises and in the cloud to reduce implementation efforts and deliver greater efficiencies. Using highly configurable business rules, FCM allows coverage of specific regional requirements and can easily connect at any core banking system, offering the quickest implementation time in the market.

Running through field with toy

Easy to Deploy, Supporting Gradual Adoption and Migration

Based on pre-built models that are configurable to an individual bank or FI’s risk-based approach requirements, FCM offers rapid implementation with low impact installation, and the option to install only those components needed. The phased implementation allows gradual adoption and migration at any level. Additional specialist consultancy advisory services available provided by Temenos Professional Services for Risk-Based Approach guidance on AML, Sanctions and KYC best practice.

Enhanced User Productivity With Workflow Management

Configurable workflow management drastically reduces the total cost of ownership by providing highly efficient processes for case management, alert management, and report builder. This fully flexible solution satisfies all the operational needs of any FI.

Technology

Using the most advanced cloud native, cloud-agnostic and API-first technologies, FCM can be deployed on-premise, in private or public cloud or delivered as a service (SaaS).

SaaS (Software-as-a-Service)

Consumed as a secure, continually solution(s), FCM SaaS delivers faster compliance and time to market. Relieving our clients not only of the burden of installing the software but also the associated work of managing the software, including network, storage and infrastructure allows FI’s to focus on their risk-based approach to financial crime and compliance. Our clients can easily utilise additional features when needed and pay only for the resources they use.

Measurable Success

2+ MILLION

Transactions per hour

15+

Years of proprietary data enhances detection with banks, cities and country lexicons

50+

Reduces bank’s TCO

< 2.5%

False positive rates

Product Overview

A single product family designed to mitigate the full range of financial crime activities and support all user functions including alert management, case management, reporting and dashboards.

Componentized, the product can be deployed in its entirety or partially to cover only specific business needs. Customers can then add capability as these needs change or evolve.

Fraud Detection – Suspicious Activity Prevention

S.A.P. uses a combination of sophisticated algorithms and expert business rules to block suspicious transactions based on real-time behavioural analysis. In this way it allows clients to identify in real-time fraudulent transactions as they occur. It uniquely builds user and customer profiles to detect and stop suspicious transactions. Looking at attributes such as balance, frequency, velocity, aggregations, transaction amount, currency, and transaction type parameters can be combined and compared to “usual behaviour” or predefined patterns.

The Peer Group Identifier (PGI) extends SAPs’ capabilities, by providing a comparison of a customer’s activity to other customers who under normal circumstances provide a similar financial activity footprint, allowing banks to focus the detection and investigation efforts on the highest risk behaviour. Once deployed, PGI provides a comparison of customer behaviour to that of their peers or a time-based comparison of overall peer group behaviour. Therefore enhancing detection and improved alert quality.

Anti-Money Laundering – Profile

Profile is a pre-packaged anti-money laundering solution that provides web-enabled, end-to-end customer behaviour and transaction monitoring which easily integrates into any core-banking platform. Full control is also ensured through flexible configuration as well as packaged report generation templates and customized reporting reduces data mining costs. Profile’s processing and detection engines are accurate, fast, easy to configure, and simple to use. It ensures clarity through comprehensive dashboards and reports in line with your risk-based approach.

The Peer Group Identifier (PGI) extends Profiles’ risk-based approach capabilities, by providing of a comparison of a customer’s activity to other customers who under normal circumstances provide a similar financial activity footprint. Once deployed, PGI provides a comparison of customer behaviour to that of their peers, or a time-based comparison of overall peer group behaviour, therefore enhancing detection and improved alert quality.

Watchlist Screening – Screen

Using sophisticated algorithms, smart contextual whitelists, and robotic processes automation dramatically reduces overheads and costs by reducing “false positive” alerts. Screen protects your business by screening your customers and all types of transactions against watch lists (including sanctions). Its versatile, risk-based approach integrates lists from various sources; public, commercial or private applying geographical and business rules. Sophisticated algorithms and highly effective scanning methods deliver the lowest rate of “false positive” alerts in the industry without compromising your detection accuracy. Screen’s flexible workflow framework allows you to define roles/access rights, context-based validation and 2, 3 or any number of review steps (including 4-eye) with the objective of operator productivity and accuracy. Screen provides additional complementary features such as sophisticated wizards to further reduce false positives; a comprehensive solution for all your screening needs.

KYC & EDD – KnowCustomer Plus (KC+)

KC+ is a risk-management solution that allows banks to standardize risk calculation process based on customer attributes. Risk assessments may be performed not only at the account opening process but also during the entire customer life cycle. KYC workflow builder uses configurable dynamic forms to enable tailored questions to each specific profile which are also available via API. More thorough and advanced than standard KYC (Know Your Customer) solutions it uses a comprehensive risk matrix including the status, range, and counts to calculate the risk based on customer’s attributes. The system offers the ability to add search criteria filters or create, amend or delete assessments. It uses advanced and fully configurable algorithms to calculate compliance risk scores of new and existing customers based on the customer profile. In this way, the system provides greater flexibility, accuracy, and control.

Alert Manager

Delivers ultimate investigator productivity through a fast and intuitive user interface with 360-degree visibility and optimized alert workflow processes.

Case Manager

Provides full end-to-end and holistic oversight enabled through rapid follow up of suspicious incidents within a single repository. Supports not only extended alert investigation processes but also standalone investigation requirements.

Interface Module

Ensures seamless, easy and efficient integration with any core banking or payment system through industry-standard integration mechanisms.

Watchlist Manager

Ensures the ultimate in detection capabilities through smart enrichments of public watchlist entries and the creation and maintenance of private watchlists.

Reporting Tools

Allows complete flexibility through an entirely configurable report engine for the full design, generation and scheduling of reports along with a set of pre-defined templates.

Automated Alert Evaluation Module

Reduces investigator workloads by reducing time spent on initial triage of alerts by suggesting the next best action (discard or send to review) or automating that process based upon risk based approach and learning from previous investigation outcomes.

Dashboards

Enables a cockpit view through graphical summaries to measure and govern module efficiency and effectiveness based on a variety of specified criteria.

Auditing Tools

It offers full transparency and auditability by recording and monitoring all actions and activity while providing thorough analysis at all stages.

Workflow Manager

Full user empowerment through configurable workflow management tools that can be easily adapted to local requirements as well as one step role and access right control.

Peer Group Identifier

Builds a “Financial DNA” fingerprint of each customer using AI capabilities, and then clusters each customer into a relevant peer group of “customers like me”. These peer groups use all the transactions of relevant financial behaviours, of all the customers in the peer group to support the comparison of their individual financial behaviour with those of the relevant peer group customers, to identify abnormal transaction(s).

Risk-Based Approach in Financial Crime

Managing risks is the supreme discipline in banking.

Customer Success

Lunar – Success Story

As a 100% digital mobile-based banking app, Lunar is disrupting the banking sector in the Nordics. Lunar will integrate cloud-based Temenos Financial Crime Mitigation (FCM) seamlessly into its core banking…

Flowe – Success Story

Flowe is a bank unlike any other. Inspired by the emphasis on personal wellbeing found in Japanese ikigai philosophy and the positive psychology movement, Flowe aims to empower customers to…

“Temenos Financial Crime Mitigation is a very powerful tool. We enjoy a 360-degree view over customer activity and can detect and block fraudulent activity. This helps to reduce our exposure to risk and gives confidence to our customers and banking partners.”

Cristina Toniazzo, Head of Happiness, Caring & Services Operations, Flowe
read success story

You’re in Good Company

White Paper and Report

Forrester Deals Survey 2021

The Forrester survey recognizes Temenos as the only Global Power Seller with a 20% increase in new named deals. This is the 15th time that Temenos has achieved Global Power Seller status.

Temenos Platform

Cloud-Native, Cloud-Agnostic

Lower costs with the elastic scalability, security, and control you need to shape your business.

APIs & Extensibility

Innovate faster with access to over 700 open APIs in the largest FinTech ecosystem.

Microservices & Containers

Microservice architectures enable continuous application upgrades and cloud scalability.

Distributed Database

Achieve true horizontal scalability in the database layer and operate on an active-active basis across multi-cloud.

Temenos Continuous Deployment – DevOps

Reduce cost and shorten software release cycles – code in the morning, deploy in the afternoon.

Security & Immutable Logging

Protect your bank from modern digital threats with the highest levels of security.

AI & Machine Learning

Explainable AI enables transparency into automated decisions and provides intelligent banking by growing revenues, cutting costs and enhancing the customer experience.

Multiexperience Development Platform

Deliver a best-in-class user experience as a consistent and seamless multiexperience digital journey across various touch points and modes of interactions.

Latest News

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Disruptive technologies driving digital banking transformation

Today, a nexus of disruptive technologies is becoming omnipresent in banking. In a survey we commissioned with the Economist Intelligence Unit (EIU) with 305 global banking executives relating to the digitization of banking, 66% said that new technologies will continue to drive global banking in the next five years, over regulation and changing customer behaviour.
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The Temenos Value Benchmark – Maximizing Business Value From Your Investment in Information Technology

We all know that disruptive technologies like Cloud/SaaS, Microservices, APIs and AI are having a profound impact on the way banking services are delivered and consumed today. This is leading to the twin trends of digital and open banking, and hence changing the very structure of the banking value chain. Meanwhile, non-traditional entrants like the technology giants, neo-banks and fintechs, are leveraging these technologies to compete in banking, and that too with a cost base 30-60% lower than incumbent banks.

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