The inadequacy or absence of sound Anti-Money Laundering (AML) risk management exposes banks to serious risks, especially reputational, operational, and compliance risks. Recent developments, including robust enforcement actions taken by regulators and the corresponding direct and indirect costs incurred by banks due to their lack of diligence in applying appropriate risk management policies, procedures and controls, have highlighted those risks. Much of these costs could have been avoided had the banks maintained effective risk-based AML policies and procedures.
Templar Shield’s Anti-Money Laundering (AML) Rule Management App-Pack provides institutions with the ability to simplify complex AML program elements, such as AML rule optimization and tuning, by centralizing AML rules, thresholds, and creating an automated rule optimization process.
Additionally, the AML Rule Management App-Pack fits within a larger Templar Shield AML Compliance Program Management solution. With the integrated AML Compliance Program Management solution, organizations can have a comprehensive, up-to-date program that is easier to run, with less staff hours, providing regulatory-ready output to evidence AML preparedness.
The Templar Shield Anti-Money Laundering (AML) Rule Management app-pack enables organizations to:
Establish a central repository for AML rules, thresholds, and rule optimization
Establish, monitor, and optimize AML rules and thresholds to identify suspicious behavior
Integrate external transaction monitoring systems for comprehensive compliance risk management
Reduced manual processes and ease of workflow and reporting
Ability to report accurately and easily to regulators about AML activities and AML risk
Automated rule optimization processes
Eased tracking through reporting and dashboarding, enabling better insight into rules, thresholds, and their optimization
Supported Platform Version
The Templar Shield Anti-Money Laundering (AML) Rule Management App-Pack was developed for and validated on Archer Platform release 6.8 P2 and later.
Archer On-Demand Application (ODA) Licenses
Three (3) Archer On-Demand Application (ODA) licenses are required for the Templar Shield Anti-Money Laundering (AML) Rule Management App-Pack.
Additional licensing fees will also apply. Please contact Templar Shield at firstname.lastname@example.org or +1-858-609-9509 for additional information.
For More Information
To learn more about the Templar Shield Anti-Money Laundering (AML) Rule Management App-Pack: