Efficient Ongoing Monitoring for Regulatory Compliance
ComplyAdvantage offers a cutting-edge solution for automating ongoing monitoring and rescreening of customers, supporting a targeted risk-based approach for evaluating changes to risk profiles. By combining their ongoing monitoring solution with proprietary data on the ComplyAdvantage Mesh platform, businesses can achieve quicker remediation with intelligent data coverage that is fully adaptable to meet changing regulations. This powerful tool enables businesses to effortlessly balance growth, risk, and costs by providing easy monitoring of customers and companies, ensuring constant regulatory readiness and dynamic risk scoring to swiftly adapt to evolving risk landscapes.
Tailored Solutions for Different Roles
Compliance Officers and MLROs can align ongoing monitoring with risk policies through powerful configurability, allowing them to test configurations and thresholds in a sandbox before live use. This empowers teams to address the highest risk monitoring alerts first and integrate with existing workflows or systems seamlessly with full API coverage. Team Leaders benefit from implementing risk-based team workload management, streamlining workloads by assigning the highest risk cases first to analysts and minimizing false positives by tuning monitoring configurations. They can also uncover emerging trends within risk sources, such as products used and customer locations. Compliance Analysts can efficiently process monitoring cases, prioritize the highest risks, and utilize an intuitive interface to identify evolving customer risks easily. They can access full screening and decision history for customers and cases, track case activity, and identify previous contributors and decisions.
Efficiencies and Value Provided
ComplyAdvantage's ongoing monitoring solution brings significant efficiencies to businesses, with a 40% reduction in false positive rates, a 60% reduction in false positive rates, and a 50% reduction in the time needed to manage alerts. Testimonials from satisfied customers, like Luis Trujillo, Chief Compliance & Risk Officer at Alviere, attest to the value of ComplyAdvantage's KYC screening solution in maintaining clean platforms and doing business only with trusted partners.
Flexible Plans and FAQ
ComplyAdvantage offers Starter and Premium Plans to meet the monitoring needs of businesses of all sizes. The company also provides answers to frequently asked questions, addressing topics like the algorithms used for screening, ongoing monitoring initiation for suspicious transactions, monitoring of businesses and individuals, and how the system reduces false positives effectively.