Transactions Filter
With this module, suspicious incoming and outgoing transactions can be stopped before posting.
The name screening function of the "transaction filter" compares entries in risk person databases (e.g. Factiva, info4c, Refinitiv, own blacklists) with transaction participants. In addition, the rules defined in the rule designer are taken into account during the check.
The analytical engine DetectX®, the centerpiece of the Prospero Predictive Analytics platform, achieves highly accurate results. False positives, i.e. supposed hits that prove unjustified after manual analysis, are minimised.
If a transaction is classified as suspicious, it is available for further processing in the AlertViewer. There it can be authorised and approved, stopped or delegated for further investigation.
The interactive AlertViewer is a comprehensive workflow module for the audit-proof processing of alerts. Investigations into suspected cases can be initiated, tasks distributed and their completion monitored.
The integrated link analysis visualises suspicious connections between transactions, persons and business relationships. It generates additional alerts based on an overall analysis of risky transactions and business relationships. The MediaSearch module completes the comprehensive search for relevant documents in dedicated data sources and is another building block in the 360° view of a business relationship.
As the main components of the "Prospero transaction filter," name checking, the rule designer and the AlertViewer with integrated link analysis form the basis for numerous extensions in the areas of anti-money laundering, fraud detection and prevention.
The main functionalities
Configuration specific to financial intermediaries for the transmission of orders and transactions to the compliance filter for review.
Review of beneficiaries and notification texts for outgoing customer transactions, and review of the ordering party for incoming transactions. Additional checks can be configured.
Individual configuration for financial intermediary transactions with the Rule Designer.
Name screening with freely definable risk person databases (e.g. Factiva, info4c, Refinitiv, own blacklists) and integration of configurable whitelists.
Display of hits in the web-based AlertViewer with drill-down to details and the possibility for further analysis and processing of alerts. The order and transaction view as well as the compliance filter can also be displayed for all details of the hits. Freely definable workflows with distribution of tasks, status monitoring, and creation of multidimensional reports.
Rule Designer for the inclusion of additional financial intermediary-specific rules in the checks (e.g. already calculated customer profiles, key performance and key risk indicators, own lookup tables, etc.).
Integrated link analysis for visualizing suspicious connections between transactions, persons, and companies - additional warnings from analyses of risky business relationships and risky transactions are displayed, and dynamic analyses (e.g. behavioral analyses) are supported. With the expansion of the analysis universe, the potential of link analysis also increases.
MediaSearch - module for finding and evaluating relevant documents in dedicated, trustworthy data sources.
Added Value
The precise analytical functionality of Prospero's "Transaction Filter" minimises the number of false-positive results and maximises the number of hits.
The time spent on follow-up work and queries is significantly reduced.
Numerous additional rules can be efficiently configured and activated with the Rule Designer.
By incorporating link analysis and additional rules, complex configurations can also be analysed and the risk of unknown threats reduced.
In the flexible dashboard, graphs provide a quick overview of compliance risks.
This option forms the basis for numerous expansion possibilities in the areas of fraud detection and prevention, anti-money laundering, goAML reporting, dynamic behavioural analysis and the "Know Your Customer" approach:
Unified and consistent solution from a single source
Efficient replacement for isolated niche solutions within the financial intermediary
Creation and exploration of synergies
Integration modules for easy integration into existing systems.
Scope
The "Transactions Filter" supports all different message types (e.g. SIC, eSIC, and SWIFT message types) processed by the transaction application, both on the inbound and outbound sides.