AMLOCK is a purpose-built, end-to-end solution designed to stem the flow of illicit funds and meet the compliance requirements of increasing regulatory oversight. It offers comprehensive tools to efficiently manage customer due diligence, enhance compliance processes and seamlessly identify, assess customer risk.
Speaking on their AML offerings, Krish Narayanaswami, Global Business Head – Banking, 3i Infotech said, “We are proud to feature AMLOCK, our globally acclaimed & end-to-end financial crime detection and management solution at the ACAMS conference marking our foray into the US market”. Ravikanth Sama, Global Head – AML Practice, 3i Infotech said “AMLOCK leverages the latest technologies, smart graphical analytics and uses AI/ML models. It enables banks, insurance companies, security firms, non-banking financial institutions (NBFIs) and mobile wallet users to easily identify & monitor suspicious activity at both the transaction & customer levels.”
The key features of the AMLOCK include Know Your Customer (KYC) / Sanctions Screening, Customer Risk Rating, Transaction Monitoring, False Positive Manager, Case Management and Reporting & Analytics. It supports both on-premise and cloud-based deployment models. The offerings of the AMLOCK Suite include AMLOCK FCDMS, Financial Crime Detection and Management Solution, which provides end-to-end financial crime management for large enterprises; AMLOCK Lite, which caters to AML requirement of small and medium institutions; and AMLOCK Analytics that brings the latest dimension of Analytics & AI to uncover hidden AML patterns / risks.