BANKiQ - Intelligent Anti-Money Laundering (IAML)
Protect payment operations from money laundering, complex financial crimes and
illicit financing through real-time, intelligent AML solution
The surge in digital payments has given rise to increasingly sophisticated fraud schemes, leaving financial institutions vulnerable to new and complex threats. Conventional anti-money laundering (AML) solutions employ manual investigative processes and methodologies that often struggle with scalability, timely detection, and adaptation to emerging patterns, resulting in inefficiencies and gaps in securing payment operations.
BANKiQ’s Intelligent Anti-Money Laundering Solution deploys a multi-layered security architecture that equips financial institutions with advanced tools to monitor transaction lifecycles, identify suspicious transactions, prevent money laundering, and ensure compliance with regulatory requirements. With IAML platform, financial institutions gain robust oversight, proactive intelligence and the ability to safeguard operations from evolving financial crimes and fraud tactics.
End-To-End Money Laundering Protection and Compliance Coverage with BANKiQ IAML
True Real-time Transaction Monitoring
Be vigilant and actively look out for anomalous transactions with an advanced AML transaction monitoring feature. By automating the monitoring process of customer transactions such as deposits, withdrawals, and money transfers in true real-time, IAML empowers financial institutions to track transactions, detect frauds and respond to threats as they unfold.
Customer Risk Scoring
Validate customers before onboarding them through a comprehensive risk assessment. BANKiQ’s Anti Money Laundering Software enables financial institutions to evaluate risk levels, flag potential high-risk customers, and strengthen AML risk posture for enhanced security. With the integration of IAML, financial operators can protect operations and minimise exposure to potential money laundering crimes.
Sanction Screening
Conduct in-depth customer due diligence through AML screening to mitigate potential threats. IAML effectively screens customers with PEP lists, Global Sanction lists, and Adverse Media in true real-time to flag high-risk individuals and entities instantly. BANKiQ’s AML screening feature automates the screening process, enabling swift, decisive action to maintain compliance and protect payment operations.
Suspicious Transaction Reporting (STRs)
Swiftly report suspicious transactions to regulators such as FIUs and Central Banks for immediate investigation and action. With our unified Anti Money Laundering platform, financial institutions can automate not just payment protection from money laundering threats but also report suspicious activities to authorities, leading to faster compliance and augmented risk management.
Intelligence-led Case Management
Add cognitive intelligence to case management efforts to support complex investigations. BANKiQ’s AML solution uncovers hidden relationships, centralises case tracking, automates management efforts, and ensures resolutions. Embedded with AI and ML-powered intelligence, the platform addresses management bottlenecks and empowers investigators to focus on high-priority cases, achieving faster, more accurate fraud mitigation outcomes.
Compliance Adherence
Align with evolving regulations and stay ahead of compliance demands. BANKiQ’s Anti-Money Laundering solution facilitates seamless integration of regulatory updates and automates compliance checks, enabling financial institutions to proactively address new requirements. From fraud detection to fraud reporting, IAML’s compliance capabilities ensure adherence to regulatory standards at every stage.
Extended Capabilities of IAML in Securing Payments and Ensuring Compliance
BANKiQ - Safeguarding Payments and Simplifying Compliance
Renowned as a leader in Fraud Risk Management, BANKiQ consistently delivers reliable, results-driven solutions. With its Anti-Money Laundering solution, IAML, BANKiQ provides a unified platform for comprehensive protection against money laundering and illicit finance, ensuring full compliance with regulatory requirements. Designed for continuous protection, BANKiQ solutions offer a 360-degree view of risk with 24/7, 365-day oversight, equipping financial institutions with robust security around the clock
Markets We Cater To
Issuer Banks
Acquirer Banks
Hybrid FinTechs
Payment Service Providers (PSP)
Payment Aggregators (PAs)
Payment Orchestrators (POs)
Our Customers
Leading Small Finance Bank
By leveraging BANKiQ’s AML Software for Banks, a small finance bank transformed its security. With comprehensive Transaction Monitoring, Sanction Screening, and proactive Risk Scoring, this integration has strengthened its fraud detection framework and enhanced compliance.
Leading Digital Bank
A major digital bank employed BANKiQ’s Anti Money Laundering Software for Banks to automate screening for customer risk assessment. This approach minimised potential risks and strengthened security, keeping operations smooth and compliant.
Largest Private Bank
A private bank utilised BANKiQ IAML to combat money laundering. By integrating realtime transaction monitoring and fraud management capabilities, this solution has significantly reduced exposure to financial crime while supporting frictionless operations.
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FAQ's
An Anti-money Laundering solution is a set of tools and techniques designed to detect, prevent and respond to suspicious transactions that may indicate money laundering or illicit financing. Financial institutions use Anti Money Laundering Software to comply with regulations aimed at curbing the movement of illicit funds through legitimate channels. With Anti Money Laundering solutions, financial institutions can assess customer risks, detect active frauds and report anamolus activities to regulators and authorities
The features of Anti-Money Laundering solutions vary based on vendors and solution providers. Here are some common features that are essential to detect, prevent and respond to active money laundering threats.
- AML Transaction Monitoring
- Customer Due Diligence
- Sanction Screening
- Automated Reporting
- Risk Scoring
- Case and Investigation Management
- Behavioural Analysis
- Pre-built Rule Engine and Customisable Rules
BANKiQ offers the IAML (Intelligent Anti-Money Laundering), an advanced platform designed to detect and prevent money laundering activities. It leverages adaptive behavioural analytics and Cognitive AI and ML to monitor transactions, customer behaviour and identify suspicious transactions in true real-time. With this Anti Money Laundering Solution, financial institutions can protect their payment operations from complex financial crimes and regulatory risks.
BANKiQ’s AML Transaction Monitoring Software offers real-time, intelligence-driven monitoring to detect suspicious activities with precision. It identifies unusual transactions, analyses customer behaviour patterns and flags potential risks. This dual approach improves detection accuracy and reduces false positives, allowing financial institutions to respond proactively to evolving threats. By integrating IAML, financial institutions can track and monitor all transactions in true real-time, enabling immediate identification and mitigation of high-risk activities.
BANKiQ IAML supports compliance with all regulatory authorities, such as FIUs and Central Banks. With its out-of-the-box features, including STR, IAML provides complete compliance support, enabling financial institutions to meet regulatory requirements efficiently and accurately. Additionally, our AML solution is designed to adapt to evolving regulations, ensuring that financial institutions stay compliant as standards change. This flexibility allows institutions to respond proactively to new regulatory demands, reducing compliance risks and maintaining a strong defence against financial crimes.