SQA Consulting builds on it anti-money laundering assurance software, Sanctions Assessment Centre & Profiler by adding Transaction Monitoring capability. The complementary offering will be available at the back end of Q4. The software will target the finance and legal industries to meet the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities.
The Transaction Monitoring software will effectively monitor bank customer transactions on a daily basis and, using customer historical information and account profile, provide a "whole picture" to the bank management. The Transaction Monitoring capability will include cash deposits and withdrawals, wire transfers and ACH activity.
The software will supplement our existing AML offerings which include:
- Know Your Customer
- Payments Screening
- Entity Resolution
- Compliance Reporting
- Alert based case management
- Investigation Tools
- AML Training
- Customer due diligence checks, including electronic verification
- Automated Standard operating procedures e.g. workflow engine/
- Dissemination of AML policies and procedures