Fortify The Securirty Of Your Digital Payments Platform

transaction monitoring

True real-time transaction monitoring made easy

transaction monitoring

Achieve comprehensive oversight and security and effectively file STR reports with BANKiQ’s true real-time transaction monitoring solutions. BANKiQ’s solutions continuously analyze and evaluate transactions to prevent potential fraudulent and anti money laundering activities, all while assisting in reporting suspicious transactions to FIU. Prevent acquiring specific payment Frauds by actively monitoring transactions, streamlining the merchant onboarding process, enhancing fraud management, ensuring regulatory compliance, and reporting suspicious transactions to proactively mitigate risks and protect financial integrity.

Key beneficiaries of Automated Transaction Monitoring solutions

Continuous monitoring
Acquiring Banks

Banking institutions struggling with managing fraud risk and maintaining compliance can utilize live transaction validation that helps minimize fraudulent risks and ensure regulatory adherence.

Payment Service Providers (PSPs)
Payment Service Providers (PSPs)

Financial institutions that face challenges in securing transactions and enhancing customer trust can leverage the true true real-time transaction monitoring system. PSPs can effectively identify and prevent payment transaction fraud, enhancing customer satisfaction and reliability.

Payment Aggregators (PAs)
Payment Aggregators (PAs)

Payment platforms seeking to streamline the handling of substantial transaction data from various origins can utilize instant transaction screening, providing strong supervision over transactions and minimizing fraud risks.

Payment Processors (PPs)
Payment Processors (PPs)

Transaction processing specialists oversee various transactions, managing the intricacies of verification and validation. With true real-time monitoring, they can leverage automated systems to analyze patterns, identify anomalies, and ensure a seamless transaction process.

Hybrid FinTech
Hybrid FinTech

Cross-functional fintech companies encounter hurdles that necessitate a balance between innovation and security in financial services. Automated transaction monitoring enables real-time detection and prevention of threats, ensuring transaction integrity and compliance with regulatory standards.

Want to enhance digital payment security for your PA/ PSP operations?

Real-time transaction oversight in Fraud Risk Compliance (FRC) and Anti Money Laundering initiatives

True real-time transaction monitoring solutions are crucial for Fraud Risk Management, Anti-Money Laundering initiatives, and Suspicious Transaction Reporting as they facilitate transaction monitoring tools to detect and identify fraudulent activities, which further assists in prevention, management and reporting. Here’s how it contributes to

Fraud Risk Compliance (FRC)

Payment fraud has become increasingly prevalent in today’s landscape, posing significant risks. To mitigate these looming threats, FRC strategies need to employ tools to identify, monitor, and manage fraudulent activities through real-time link analysis and advanced detection mechanisms.

BANKiQ’s transaction monitoring solutions are equipped with real-time, cognitive, and automated preventive abilities. Additionally, it has been architected for true real-time transaction monitoring and interjections with a swift response time of less than 100 ms. Leveraging this empowers financial entities to closely monitor transactional behavior and merchant onboarding processes in real-time, ensuring compliance with regulations effectively.

Anti-Money Laundering (AML)

As the leading cause of compliance fines for financial institutions, Anti-Money Laundering is a critical area where detection and response are required. With the rise in money laundering activities, banks expend an inordinate amount of manpower, resources, and capital to identify, prevent, and process these activities while complying with regulations.

BANKiQ’s true real-time transaction monitoring solutions for AML are equipped with detection monitoring and investigation capabilities, where true real-time transaction monitoring facilitates the rapid identification of suspicious activities, enabling timely intervention and investigation to prevent money laundering. With advanced analytics, intelligent AI-ML, pre-packaged STR rules, and the ability to automatically report STR, BANKiQ improves the accuracy and efficiency of AML processes.

Suspicious Transactions Monitoring

Reporting suspicious transactions to FIU through filing an STR report is essential to preventing Frauds and money laundering activities. Filing STR reporting helps alert authorities about irregular and anomalous activities that are indicative of criminal behavior. This process is crucial for financial entities to comply with regulatory requirements and contribute to global financial security.

BANKiQ’s true real-time transaction monitoring solutions augment the process of suspicious transaction reporting. By actively monitoring transactions and leveraging analytics, the solution enhances its ability to provide real-time alerts against FIU-defined rules and scenarios. Assisting financial entities with STR capabilities through XML-format reports, BANKiQ Solutions’ STR module is an out-of-the box solution for providing timely and accurate reports.

Frauds Detected Through Automated Transaction Surveillance

Digital Payment Frauds

Account Takeover

Synthetic IDs

Money Laundering

Digital Payment Frauds

Detects unauthorized transactions, identifying patterns indicative of fraudulent digital payment activities.

frauds

Account Takeover

Flags irregularities signaling account takeovers, such as sudden changes in user behaviour or unauthorized access attempts.

fraud

Synthetic IDs

Identifies inconsistencies and anomalies in user data and flags fabricated identities used  in financial transactions.

fraud

Money Laundering

Tracks unusual patterns and flows of funds that strongly suggest money laundering activities, aiding in proactive detection and prevention.

fraud

What are the benefits of true real-time transaction monitoring?

Swift fraud detection

By monitoring transactions with less than 100 ms of response time, financial institutions can detect and prevent fraud as it happens. With BANKiQ’s proactive tool in hand, banks and PSPs can stop frauds and save time, money, and reputation.  

Augmented customer experience

Utilizing transaction monitoring tools, financial institutions can enhance the customer experience and reinforce security. BANKiQ’s integrated transaction monitoring and suspicious transaction reporting solutions elevate the experience by securing transactions with trust. 

Reduced false positives

Leveraging self-learning Cognitive Machine Learning (ML), BANKiQ’s true real-time transaction monitoring solutions minimize the number of false positives, enabling financial entities to focus only on legitimate fraud threats.

Ready to experience the power of true real-time monitoring for your digital payment transactions?

From Detection to Prevention: BANKiQ’s comprehensive approach

Swift fraud detection

By monitoring transactions with less than 100 ms of response time, financial institutions can detect and prevent fraud as it happens. With BANKiQ’s proactive tool in hand, banks and PSPs can stop frauds and save time, money, and reputation.  

Reduced false positives

Leveraging self-learning Cognitive Machine Learning (ML), BANKiQ’s true real-time transaction monitoring solutions minimize the number of false positives, enabling financial entities to focus only on legitimate fraud threats.

Augmented customer experience

Utilizing transaction monitoring tools, financial institutions can enhance the customer experience and reinforce security. BANKiQ’s integrated transaction monitoring and suspicious transaction reporting solutions elevate the experience by securing transactions with trust. 

Ready to experience the power of true real-time monitoring for your digital payment transactions?

BANKiQ’s Comprehensive Transaction Monitoring Solutions

Essential features of BANKiQ’s Transaction Monitoring Solutions

True real-time transaction monitoring

Robust Case Management and Investigations

Pre-packaged STR Rules & STR Reporting

Inbound/Outbound integration capabilities

Intuitive dashboard

Thorough vigilance for detection and prevention

Access Portals to financial entities

The BANKiQ difference - Excellence in true real-time transaction monitoring

As your partner in combating financial crimes, BANKiQ offers robust and advanced truereal-time transaction monitoring solutions. With the ability to provide real-time accurate transaction insights, BANKiQ enables the detection, prevention, and reporting of frauds promptly and efficiently, ensuring the integrity and security of financial operations. 

Empowering financial institutions with better resilience BANKiQ solutions are embedded with Self-learning through Cognitive ML and automated preventive abilities. With the ability to perform true real-time Transaction monitoring, investigations, and STR reporting, BANKiQ enhances the operational efficiency and fraud detection capabilities of financial entities. Holistically, BANKiQ’s transaction monitoring solutions ensure minimum friction for good transactions and maximum protection against bad ones.

BANKiQ difference

Elevate FRC and AML initiatives with BANKiQ’s Transaction Monitoring solutions

Mapping across the spectrum of financial transactions, BANKiQ’s true real-time transaction monitoring solutions offer comprehensive visibility and control. As a single platform offering Fraud Risk Management, BANKiQ enhances both FRC, AML, and STR reporting processes through real-time detection and monitoring of digital transactions. 

By overseeing compliance and mitigating risks, the solutions facilitate enhanced operational efficiency and strengthen financial security, empowering institutions with advanced tools to combat frauds proactively. With a goal to augment the operational capabilities of Banks, PSPs, and Hybrid fintechs, BANKiQ’s solutions boast low Total Cost of Ownership (TCO) and high efficacy, leading to robust, secure, and compliant financial processes.

Businesses We Serve

Businesses We Serve

Issuers, Acquirers, and Fintechs

Payment Aggregators, Payment Gateway Providers, and Merchant Fintechs

Get Started Today

Schedule a demo and discuss your fraud prevention strategy with our solutions team.








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    FAQ's

    In true real-time transaction monitoring, transactions are analyzed as they occur (less than 100 ms), providing immediate detection of anomalous activities for further investigation. Offsite transaction monitoring, on the other hand, is a reactive approach where transactions are reviewed after they have been processed, allowing for analysis using historical data to find suspicious activities.

    Yes, filing a SAR is a significant compliance approach that notifies and helps regulatory authorities detect and investigate potential financial frauds, such as recurring frauds pertaining to money laundering, etc. Additionally, filing the report ensures compliance with legal requirements and contributes to the overall integrity of the financial system.

    Often, true real-time transaction monitoring systems fall short in handling large volumes of transactions without delays, minimizing false positives, and accurately detecting fraudulent activities. However, BANKiQ’s true real-time transaction monitoring solutions are scalable, with a reduction in operational complexities and enhanced accuracy in fraud detection, effectively addressing these common challenges through advanced processing capabilities.