If it is not clear yet, AML Solutions are the digital tools that are implemented by organizations, businesses, and financial institutions to add a layer of security and safeguard their finances. Money laundering is getting as common as dirt. Just say the term in a room full of people, and they’ll come up with their experiences of the financial breach. Money laundering is not just the huge financial pits in financial institutions but every unfortunate event where money is snatched from its original source.
Money laundering is not responsible for digging a hole in the finances but hinders businesses' and organizations' growth. Scaling up a business is no more a manageable task. Especially when you suspect risk at every step. Corporate AML solution, like AML-TRACE, is an effective digital tool that adds value to the anti-money laundering process. The software enables organizations to establish a successful AML compliance program to combat financial crimes.
Smart Infotech has successfully developed and designed AML software that has flexible deployment and can help in scaling up a business. With dedicated staff, systematic management, a skilled workforce, and innovative ideas, the software is a blend of perfection and efficient implementation. With pure efforts and strategic workforce management, the software AML-TRACE has been deployed in financial institutions and businesses when needed.
The software offers a holistic view of the AML requirements and demonstrates the compliance requirements according to the regulations. AML-TRACE helps organizations, businesses, and financial institutions to detect and prevent financial crimes like money laundering, security threats, fraud, and non-compliance.
AML-TRACE allows you the flexibility to configure as per the organization's requirements. Legal rules and regulations for financial institutions and organizations are multiple, and tracking each one of them can be difficult. Probably, the lack of understanding of the legal requirements is one of the reasons that organizations and institutions are prone to money laundering. AML-TRACE helps businesses to focus on workforce management and ease the detection of risk factors.
AML-TRACE helps you to quickly adapt – whether you need to scale up your business, add a new capability to meet customer demands, or deal with a regulatory issue. The AML regulatory framework is fluctuating and needs to be adhered to with perfection. The software is adaptable, which makes the identification of risky parties all the more convenient. Since financial activities are sudden and hidden, it is important for the software to be adaptable so that institutions and organizations can get the hang of it.
Technology is only as good as the people behind it. That’s why we employ the most talented, experienced, and knowledgeable teams around. Their know-how covers IT architectures and systems, business processes, interaction, workforce management best practices, and much more. They also understand how all these disciplines combine to maximize resources and deliver great customer experiences. The first thing that any institution or business looks for is trust. Implementing software that is trusted by many can be a hit.
We have the option to deploy on-premise or in the cloud. We will work closely to help you deploy.
One thing that keeps financial institutions and organizations from instantly accepting AML software is the thought of maintaining and managing it. Starting with its installation and then deployment, everything feels like a challenge for people unaware of its operation patterns.
The second most challenging thing is making the proper use of the software. The AML software is a digital way to minutely identify the risk areas and evade them by blocking their access. However, the software can also bring out the list of people who are not on the alarming list but are doubtful when it comes to financial loyalty. The PEP screening and sanction screening are two methods that prune out the shady parties and help you combat the money laundering risk beforehand.
Smart Infotech has strategically constructed the best-ever AML software with flexible deployment and approach towards financial institutions and organizations. Contact us to explore more about our software and how it can help you eliminate the money laundering risk without putting in much effort.