Detect Money Laundering in Correspondent Banking
Enhance your AML risk assessments for correspondent banks, gain a better understanding of potentially illicit transaction flows and reveal unknown risks.
Low detection rates and high false positives increase your risk
High volumes of false positives
Poor underlying data and inadequate monitoring results in unmanageable volumes of alerts that swamp your team daily and wastes time that could be better spent detecting criminals.
Slow investigations increase costs
Inefficient processes, outdated legacy systems, and siloed data put you over budget and behind schedule.
You can only mitigate the risks you can see
When you don’t have context, you can’t see the complete picture. And this increases the chance of inaccurate decisions and missed risk.
Add context
to your investigations
Build a unique record of your customers—and include their customers too. Accurately and efficiently score and risk rate the respondent bank’s customers to understand potential risk with a non-customer.
Contextual Decision Intelligence lets you use your data to uncover unknown KYCC risks and monitor payment flows between parties and highlight risky connections.
So you can enhance AML risk assessments, reduce operational overheads and detect money laundering.
Take a closer look at Contextual Decision Intelligence.
reduction in false positives
improvement in complex entity resolution rate
Know more about your customers’ customer using context
Use a platform that changes the way you detect and prevent money laundering in correspondent banking.
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Connect your data to
identify businesses and people
Combine billions of records from internal and external data sources to resolve parties, see business counterparties and their hierarchies, and gain a holistic view of transactional flows, including the role of intermediaries and respondents.
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Understand your customers
and their relationships
Build networks of customers and their connections to see relationships between originators and beneficiaries, corporate hierarchies and supply chains—and spot unusual connections.
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Rapidly identify
suspicious activity
Gain a detailed view of cross-border transactions and visualize trends to identify emerging and hidden risk, such as fraud, corruption, and human trafficking. Reduce the operational overheads associated with frequent requests for information from respondent banks.
Use the platform for Contextual Decision Intelligence
Benefits of our AML solutions for correspondent banking
Find possible risk associated with non-customers, understand where criminal activity could be rife, and enhance your AML investigations.
Identify unknown KYCC risks
Enhance AML risk assessments by including your customers’ customers.
Uncover potentially illicit transaction flows
Understand more about transactions when a bank acts as an intermediary.
Improve monitoring
Track respondent banks and payment flows, and analyze the flow of funds between banks.
Reduce false positives
Add context to your data to detect suspicious behavior.
Identify unusual flows or connections
Highlight abnormal flow concentration or risky connections between parties.
Support due diligence and AML/CTF processes
Assess the entire correspondent banking relationship through detailed behavioral analysis.
Detect possible corruption or conflict of interest
See where bank directors are linked to companies.
Visualize transaction trends
Interact with data and examine single and multiple transactions, and carry out thematic reviews.
Why use the Quantexa platform
Build Once, Use Many, Ingest to Create a Single View with Networks
Apply your data to multiple use cases—without replicating data sets.
Make Faster, More Accurate Decisions
Use context to improve decision accuracy across the organization, find new opportunities and uncover risk.
Scale to Billions of Records in Batch or Real-time
Built on proven, scalable open-source technologies like Hadoop, Spark and Elastic.
Future-proofed Open Architecture
Integrate seamlessly into your existing IT ecosystem, with flexible deployment options: native, or containerized for private and public cloud.
Ensure Data Transparency
Use explainable data linking, advanced AI and decision models for regulatory compliance.
Keep Data Secure
Rely on granular security levels for dynamic control, with all activity audited.
Speedy Time-to-value
Operationalize your data in a matter of months – not years.
Overcome Data
Quality Issues
Use entity resolution and data volume to overcome missing or poor quality data.
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Book a demo
See how our Contextual Decision Intelligence platform improves the effectiveness of operational investigations, speeds up complex investigations, and detects previously hidden risks.