AML & CTF, Sanctions
Transaction Monitoring, Screening, KYC, CDD, EDD, CTR, SAR filing and FinCEN 314(a), (b)
Transaction/Payments Fraud
Online, ACH (Automated Clearing House), Wire, Internal Fraud, Check Fraud, Deposit Fraud, P2P, SWIFT, Virtual Currencies.
Cybersecurity / Online Fraud
Synthetic identity, Business Email Compromise (BEC), Account takeover (ATO), Phishing, Social engineering and impersonation scams.
About Us
Organizations operating in both Financial and non-Financial domains are facing increased challenges to navigate the spectrum of complex regulatory requirements. The monetary risks for non-compliance are significant, the reputational risks are even higher. Unknown participation in money laundering, human trafficking, sanctions violations or terrorist financing for operational and process lapses have costed organizations nine figure penalties. On the other hand, incidents of money laundering, fraud and cybercrimes involving illicit funds movement through your institution (and the financial system) are becoming increasingly intertwined – only one of them rarely occur in isolation as the specific typologies are evolving to become more layered and nested which make them harder to decipher. Compliserv helps your institution to understand your regulatory obligations and implement systems and processes that apply to you in the cost-efficient manner. Advisory, technology and implementation – Compliserv provides comprehensive solutions to be and stay complaint, preventing financial losses.
Our Mission
Help Financial Institutions stay compliant and mitigate reputational risk with respect to regulatory requirements in Financial Crimes Risk management.
Our Approach
Each institution is unique. Leverage the optimal mix of people, process, technology in the most cost-effective manner to fit specific business needs.
Our Vision
Use AI, machine learning with advanced analytics and effective inter-FI collaboration tools to combat financial crimes and safeguard institutional assets.
Services
Compliserv offers a wide spectrum of services within the Financial Crimes Compliance area. Areas of expertise include AML (Anti Money Laundering) Compliance, Sanctions, Payments Fraud within multiple transaction channels (viz. ACH, Wire, digital, P2P etc.) including Cyber risk prevention (viz. BEC, account takeover, phishing etc.)
Advisory
Within the advisory group Compliserv offers domain consulting, technology evaluation, roadmap definitions, infrastructure and application recommendation services for the most applicable implementation of Regulatory Compliance technology or vendor solution. We provide comprehensive AML and Fraud Risk assessments so that institutions can identify and safeguard areas of exposure with high risk clients, products & geographies so as to define the required risk appetite level of the organization while having corresponding systems and procedures for regulatory compliance.
Technology:
The technology & implementation arm of Compliserv offers cost effective and cost- effective services for implementation of AML, Fraud & Cyber Risks for your payments, transactions and online/digital channels. Compliserv works closely with its partners for implementation of several industry leading AML and Fraud prevention solutions. We leverage a very effective collaborative delivery model based on onsite and remote services mix that is optimal for each specific project.
Audit & Remediation
Model Risk validation, remediation, alert tuning, look back requirements rising out of regulatory and internal audits. Compliserv also offers compliance certification services and a pre audit health check of AML processes and technology to manage audit risks in a proactive manner, helping institutions avoid costly remediation expenses as well as potential reputational risks.
PARTNERSHIPS
In addition to the inhouse expertise in several aspects of regulatory compliance areas, Compliserv has strategic business partnerships with professional services organizations that specialize in niche areas of technology and business domains. Some of the specific areas of partnerships are in the area of.
- Treasury, payments and integrations, message/format transformations, transaction reporting and analytics.
- SWIFT semi and fully managed connectivity.
- Fraud prevention and AML risk assessments.
- Regulatory Audit readiness certification and assessments.
- Payments and transaction Fraud leveraging AI and machine learning.
- Information sharing in Financial Crimes with US FinCEN 314(b)
Compliserv will provide a single point of contact, accountability and own turnkey delivery responsibility for projects that involve multiple areas of expertise by working closely with its partners. Institutions save time and money that would be otherwise required for reaching out to individual providers and evaluating the offerings and associated costs.
Domain expertise
Regulatory Compliance, Fraud prevention and Cyber resilience
Compliserv has consultants who are Certified AML specialists (ACAMS certification) as well as personnel who have vast experience in other areas of regulatory compliance such as KYC, CDD, Sanctions and Transaction Monitoring. Similar services are also offered in the area of Fraud risk assessment and prevention. In the area of cybersecurity we offer managed monitoring services, threat exposure, vulnerability and penetration testing and regulatory certification. The cyberthreat landscape is continuously evolving – we use the latest cutting edge technologies to identify and expose vulnerabilities for risk mitigation.
Correspondent Banking & Cross Border payments infrastructure
In areas of International payments and integration on the SWIFT network, Compliserv along with partner resources currently manage and run some of the largest corporations managed connectivity infrastructures with state-of-the-art resiliency, security and support services. All connectivity and infrastructure components are audited and standards compliant/certified as per industry and regulatory requirements. Compliserv can offer current SWIFT users a side by comparison of costs vs services and identify opportunities for cost- efficiency/benefit which can positively impact your bottom-line.
Tech Trends
Institutions have invested millions of dollars in capital investment, time, resources and skills development for building their regulatory and Financial Crime prevention apparatus consisting of people, process and systems. Over the last decade or so the business environment including regulatory requirements have undergone sea changes. Technology has also progressed in leaps and bounds. New transaction types (faster payments, P2P, Crypto) are gaining center stage and institutions are continuously adapting to stay profitable while at the same time staying compliant with statutory requirements. The business environment within which regulatory requirements are to be evaluated are at best dynamic.
When advising on the right technology to be adapted, Compliserv looks at the big picture. We identify the business environment and geographies within which the organization operates, transaction types, FI’s digital footprint, customer profiles, projected growth areas and most importantly the risk appetite. Based on these factors and considering current investment and applications in use, Compliserv will recommend the right technology adoption strategy that is best suited for the specific entity.
Though there is tremendous excitement in the industry about adoption of Artificial Intelligence (AI), Machine learning, RPA, deep learning and similar modern technologies, it may not be right for you. There are risks and rewards and specially for smaller and mid-size organizations proper evaluation of the needs within the business context is critical to the technology adoption or transition strategy. Current, Compliserv can assist in performing a holistic evaluation of your current environment, challenges faced, improvement areas, future needs, investment considerations and recommend the most applicable technology direction.
Contact Us
Speak to one of our consultants or enquire more about our services and expertise.