4Sight AML Screening provides enhanced and user friendly AML/CFT Compliance software from onboarding new customers and screening your existing customer base along with risk categorization which helps companies detect financial crimes and comply with AML / KYC regulations.
4Sight AML screening Software includes fully automated process for scanning of customer database against various Sanction list on regular basis/Scheduled basis for Sanction checks. Also monitors the transactions in real time via automated AML client onboarding and KYC capturing along with risk based approach. Effective KYC enables firms to collect and analyze a significant amount of information/data about the customers including the verification of customers against relevant official databases and lists.
4Sight AML is one stop solution for Sanction screening that meets the Compliance requirements specified by regulating authorities.
I. EOD Screening
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Scheduled and automatic process for daily screening of customers against Sanction lists at specified frequency. |
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Screens & checks for entire database of customers including Individual & Entity customers with Ultimate Beneficial Owners Beneficiaries against different Sanction |
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Verifies presence in Global & local PEPs by searching against PEP Sanction lists from authorized Data providers. |
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4Sight AML EOD can seamlessly integrate and screen customer data from third-party sources, flat files option, case management systems and CRMs using leading Integration techniques. |
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4Sight AML EOD can also incorporate lists compiled & maintained by organization and governments for daily screening. |
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Automatic generation of STR (Suspicious Transaction Report) to Compliance dashboard for Due Diligence and further investigation. |
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Software is open to customization and is fully configurable as per client requirement. |
II. Onboarding for Real Time Screening
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Real time screening of customers against Sanction Lists & PEPs, data from third-party channels, data saved and shared in flat files, databases systems and CRMs, including internal list maintained by organizations. |
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Dashboard for Insurance Underwriter/ Front officer for customer creation, KYC entry and submission for Sanction checks. |
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Custom built KYC screens available depending on each product lines & services. Fields in the KYC screen can be decided and self-designed. The designs are configurable. |
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Dashboard for Compliance Officer for reviewing the exception and take actions such as Blacklisting, Whitelisting etc after Enhanced Due Diligence. |
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Option to add attachment such as proof document to validate the Compliance Officer findings. |
III. Real - time Risk Assessment & Categorization for KYC
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Risk assessment and scoring to assess the AML Risk for your clients based on the customer’s profile, risk factors and weighted parameters. |
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Assess the Risk by using: |
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quantitative and qualitative criteria, |
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customizable risk factors (such as product, Nationality, Delivery Channel, Residency & Transaction amount), |
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apply weight allocation to all your risk factors and parameters, |
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risk scoring matrices. |
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Assess risk as low, medium, high and very high with associated scoring |
Checks are made against multiple databases of Sanctions and Watch lists maintained by the UN, country regulators and law enforcement agencies. 4Sight Screening application includes the following sanction lists for Sanction checks:
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UN Sanction List |
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US Department of Treasury |
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UK Sanction List |
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OFAC – Office of foreign asset control |
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European Union Sanctions |
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UAE Local Terrorist list |
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Other Sanctions/ Internal Sanction List |
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For PEP screening , system is capable of integrating data file from authorized Data providers in the market. |
1. Standalone System
4Sight AML offers high defined and powerful web engine which can integrate with qualified multiple systems.
2. Digital & Automating Onboarding Compliance
Software automation allows firms to not only add speed and efficiency but increase the amount of data that they are capable of handling safely. Enhance procedural accuracy and reduce the potential for human error by compliance teams.
3. Record Keeping / content management
By KYC implementation, data can be stored and accessed more efficiently and preserved more accurately for situations in which it is needed for the submission of suspicious Transaction reports (STRs) or for subsequent investigations by financial authorities. Managing the regulatory files of clients such as Identification documents, documents with expiry date, other legal documents.
4. Aliases Names
The huge number of lists, spellings, aliases, and the massive volume of global alerts make it difficult for businesses to correctly identify a person or company on the PEP/Sanctions or Watch lists. 4sight AML apply complex algorithm in the screening to find matches related to aliases name.
5. Helps reduce False Alerts & False Positives
The challenges of the high number of false positive alerts and dynamic databases also make compliance a cumbersome process. With 4Sight AML, you can set and apply your own matching percentage to reduce false positives.
6. Maintain up to date Sanction list
There are thousands of sanctioned people, organizations, and countries in the world. New sanction lists are published every day in the world. So far, there are thousands of sanction lists published in the world. 4sight AML screening downloads latest and updated Sanction list for performing Sanction checks.
7. Cost Effective
Screenings are carried out at a reasonable cost, whether you are a SMB or a large corporation and irrespective of no: of transactions.