At Probe Compliance, we constantly innovate to empower your compliance journey. That’s why we’re excited to introduce Transaction Monitoring (TM), our advanced cutting-edge transaction monitoring solution designed to transform your compliance operations, enhance efficiency, and minimize risks.
Why Choose Probe TM?
Probe TM is engineered to meet the unique needs of businesses like yours. With TM, you’ll enjoy:
- Customizable Rule setup: TM allows users to generate and customize rules based on different thresholds such as time, figures, location, frequency and more, able to detect suspicious, anomalous, fraudulent or illicit patterns in transaction data.
- Access Rights Management: TM provides a customizable access right management system on all modules of the application where clients can grant access to modules based on personnel roles or individuals on the team. For example, roles like Manager, Team Lead and Analyst can be defined.
- Data Input using API and Spreadsheet: TM allows users to import transactions and customer data either through (1) Our internal API module that connects directly to existing Systems and Core Banking Applications (CBA), or (2) filling out our spreadsheet template to be uploaded.
- Alert and Case Management: TM generates alerts from transactions which can be converted to cases to be examined and escalated. Cases can be collaborated on by team members, assigned to individuals and can be commented on.
- Management Information: TM provides Managers with a robust overview of the entire operations, including statistics and analytics. This captures data on rules, alerts, cases, customers, risk and more, and can be used for decision making and to address team members performance. The data can also be exported to PDF to be shared with other members of the organization.
- Customer Profile AI/ML: TM has built-in Artificial Intelligence (AI) and Machine Learning (ML) features that enables the system to continuously train on customer transaction data, learning the customers baseline profile (customer transactional behaviour and thresholds), and transaction network (who they frequently transact with). Users also have the option to reset the training process.
- GOAML Reporting: TM allows users to generate CBN and NFIU regulatory reports such as Suspicious Transaction Reports (STR) and Currency Transaction Reports (CTR) on alerts and cases in XML formats according to the NFIU GoAML Schema. These reports can be uploaded directly unto the NFIU GoAML platform.
- Customer Risk Rating: TM has an intelligent customer risk rating system. The algorithm considers several factors to calculate a risk score of High, Medium or Low for each Customer to help with decision making. These risk ratings can also be manually overridden.
- Data Protection: TM protects uploaded transaction data by running an automated routine to delete the data according to a predefined and customizable retention period. If the data lifespan exceeds the pre-set time (default 3 months) from the date it was uploaded, it will be automatically deleted. Users also have the option to delete the data manually at any time directly from the application.
- Auditing: TM audits all processes and actions performed by all users on the system with available reports, tracking what was done, by whom, and when it was done.
Empower your compliance operations and gain a competitive edge with Probe TM. Contact us for a free demo and see how Probe TM can transform your compliance workflow.
Book Free Demo: https://bit.ly/40JuonS
Visit Website: www.probecompliance.com