Compliance

AML

Under the current Money Laundering and Terrorist Financing Law, Financial Institutions must implement a programme to prevent money laundering and terrorist financing in order to identify, monitor and prevent activities of a criminal nature. This programme should consider continuous monitoring, so that Financial Institutions are aware of normal customer activity and therefore check for suspicious behaviour that could be related to criminal activities. In this sense, the AML solution aims, by monitoring the Customer's data and transactions, to issue alerts based on the rules defined by the Financial Institution. These alerts are analysed and supplemented with information external to the solution, thereby constituting an analytical process. Should any suspicions arise, the solution enables the generation of reports that support the communication to the authorities.

Flyer_AML.pdf

FATCA & CRS

The FATCA & CRS solution aims to support Financial Institutions in their compliance with the legal framework of the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS), issued respectively by the United States of America and the Organisation for Economic Co-operation and Development (OECD). This process begins with the gathering of information on the Entity/Customer in order to identify if we are before a US Person and if it is reportable under CRS, the calculation of withholding tax originating in the USA to recalcitrant customers, and lastly the generation of information for reports under FATCA and CRS, according to the regulations in force in the country of the Financial Institution.

Flyer_FATCA&CRS.pdf

Foreign Exchange Control

By promoting the independence of the foreign exchange control function, this solution ensures and supports compliance with the foreign exchange legislation and regulations in force, while also considering the overall purpose of foreign exchange control in the economic context in question. Thus, this solution supports Financial Institutions in identifying the framework of foreign exchange operations in the business of the legal entity based on its nature, size and financial situation, among other factors, and in the case of retail customers, the framework of their circumstances and financial capacity, as part of the transaction monitoring process.

Fraud Prevention and Detection

Fraud control and prevention in Organisations is essential for sustainable business continuity. As this is not a static process, but rather a dynamic and continuous process that requires constant monitoring, since the risk of fraud is permanent, this solution supports Financial Institutions 24 hours a day in identifying and monitoring fraudulent activities. It is also equipped with 'artificial intelligence' that enables the identification and distinction between a false positive and a real fraud, to ensure that when this threat occurs, the Institution can identify it in a timely manner and thus minimise its impact on the Organisation, by means of immediate automatic actions and by sending alerts for subsequent processing.

Audit

This solution ensures compliance with internal processes and procedures as part of the Internal Audit of a Financial Institution. This solution supports the management of auditing processes, from their planning, development, checklists, recording of findings and issuing of reports, making it indispensable in the management of an Organisation's Internal Auditing activities.

Internal Control

The internal control system ensures an alignment between the risk management, internal audit and compliance functions and, therefore, this solution allows managing and adjusting processes and resources in line with these pillars. This tool aims to support Financial Institutions in the implementation and operationalisation of internal control. Each of the controls defined will have an associated phase and classification, both from the point of view of the object/model to be controlled, and subsequently from the point of view of its effectiveness.