FIS AML Compliance Manager offers a comprehensive suite of anti-money laundering (AML) solutions designed to help financial institutions meet complex regulatory requirements. Their platform includes a range of tools for detecting, analyzing, and reporting suspicious activity, tailored to ensure compliance with global regulations, including the USA PATRIOT Act and the Bank Secrecy Act.
The Solutions FIS Provides
FIS’s AML solution suite is modular and addresses four key areas:
- AML/BSA: Detects suspicious activity with a powerful analytics engine that combines customer behavior profiling and a robust scenario methodology.
- KYC/EDD: Supports enhanced due diligence processes with automated customer-risk ratings and continuous monitoring.
- 314a Screening: Automates the management of government requests, such as FinCEN 314a requests, for information and subpoenas.
- WatchList Reporter: Offers advanced filtering and match transparency for meeting sanctioned-party filtering requirements.
These tools are powered by modern technology, providing a seamless integration with financial institutions’ existing systems and workflows.
The Type of Customers FIS Works With
FIS’s AML solutions cater to a wide range of customers, particularly those in financial services, including:
- Banks and credit unions
- Insurance companies
- Payment processors
- Investment firms
These customers rely on FIS’s technology to streamline compliance processes and manage risk more effectively.
What Sets FIS Apart
FIS distinguishes itself with a cloud-based platform that offers scalability and flexibility, enabling businesses to adapt to evolving regulations. Key differentiators include:
- Advanced profiling and detection: Continuous updates to customer profiles based on transaction data.
- Efficient decision-making: Streamlined approval processes and a unified case management system.
- Collaboration: Enhanced investigation tools with features for tagging, notations, and document management.
