Do You Have the Right AML Stack? Here’s What Top Programs Use
Customer Screening (KYC/Onboarding)
LexisNexis Bridger, World-Check, Dow Jones RiskCenter, Fircosoft ➤ Used to screen new and existing customers against global sanctions, politically exposed persons (PEPs), and watchlists to detect high-risk associations. Platforms vary in their fuzzy matching, data coverage, and customization options.
ComplyAdvantage, Sayari, Refinitiv ➤ Provide adverse media screening and beneficial ownership insight — essential for uncovering hidden relationships, shell companies, or links to financial crime typologies.
Socure, Jumio, IDology ➤ Offer identity verification through document validation, selfie ID comparison, and fraud detection. These tools are crucial for digital onboarding and reducing synthetic ID risk.
📊 Transaction Monitoring
NICE Actimize, Oracle FCCM, FICO TONBELLER, Patriot Officer ➤ Core platforms used to detect suspicious activity by analyzing customer behavior, transaction flows, and high-risk patterns. These systems apply configurable rules or machine learning to flag potential AML red flags.
SAS AML, in-house models ➤ Larger institutions may build proprietary models or use analytics platforms to develop highly tailored detection scenarios that integrate more granular data.
Actimize UDM, X-Sight, Quantexa ➤ Used to improve alert quality, measure SAR conversion rates, and perform entity link analysis to identify rings of suspicious behavior.
🚨 Sanctions Screening
Fircosoft, Actimize WLF, Temenos Screening, Pelican Screener ➤ Perform real-time and batch screening of transactions, customers, counterparties, and wire messages against OFAC, UN, and internal lists. Core to preventing illegal payments from reaching sanctioned individuals or regions.
OFAC XML feeds, Dow Jones, Refinitiv list services ➤ Lists must be kept up-to-date with automated ingestion and QA controls to ensure sanctions are detected promptly.
🗂️ Case Management & SAR Filing
Actimize CM, Verafin, Arachnys ➤ Centralized platforms for managing investigation workflows, documenting evidence, tracking escalation steps, and collaborating across teams. Ensure auditability of every suspicious activity decision.
FinCEN BSA E-Filing, SAR auto-feed ➤ SARs must be filed within 30 days of suspicion detection; these tools automate filing and maintain version control and submission receipts.
Archer, Tableau, ServiceNow ➤ Support regulatory issue tracking, KPI dashboards, and remediation commitments — often integrated with compliance and internal audit teams.
📋 Risk Assessment & Audit Oversight
Archer, MetricStream, Excel ➤ Used to perform enterprise-wide AML risk assessments aligned with FFIEC expectations, and to document control effectiveness and residual risk by business unit.
JIRA, Confluence, SharePoint ➤ Audit teams and model governance rely on these to track issues, document tuning decisions, and validate scenario model changes.
AML360, Typology Heatmaps ➤ Visualize coverage of known risk scenarios (e.g., structuring, TBML, crypto mule flows) to ensure the institution is monitoring what matters most.
🔚 Final Thoughts
Building a mature AML program isn't just about checking boxes — it's about selecting the right tools, integrating them thoughtfully, and ensuring each one works in concert to protect your institution and your clients.
✅ Whether you're assessing your current platform mix, preparing for a regulatory exam, or looking to enhance your scenario coverage and alert quality, the right technology stack makes all the difference.
🔎 Are you using the right tools in the right places? 💬 Let’s compare notes. What’s working for your program — and where are the gaps?
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#ComplianceLeadership #AMLInnovation #BankingCompliance
