Siron®AML

Complete Compliance with a One-Stop Solution

A complete, Best-in-Class AML solution

with Risk Rating, Monitoring and Customer Due Diligence

Know-Your-Customer and Due Diligence

Including Business Partner Due Diligence

Tax Regulations & FATCA Compliance

and the coverage of additional bilateral and international tax compliance regulations

AML Compliance: Siron^®Anti-Financial Crime Solutions

The AML Compliance solutions, based on the « Siron^®Anti-Financial Crime Solutions » from FICO, help comply fully with intensified AML, KYC and Tax regulations and to deploy a truly risk-based approach effectively.

Anti-Money Laundering

Siron^®AML is a Best-in-Class solution to identify and report suspicious activities related to money laundering and terrorist financing, ensuring compliance with current regulations. It combines powerful analytics such as rule-based data mining, profiling, behavior recognition, and link analysis to reduce alerts to those with the highest relevance.

Siron^®AML gives Compliance complete control over the scoring process and includes case management and investigations. It is a highly flexible, scalable and quickly adaptable application, suitable for any organization size. Siron^®Anti-Financial Crime solutions follow a risk-based approach; packaged offerings exist for all types of industries (banking, insurance, securities).

Alert & Case Manager

The alert and case management module Siron^®ACM allows compliance officers to handle alerts from the “source systems” Siron^®AML, Siron^®KYC and Siron^®Embargo, and to investigate the details for decision making and file Suspicious Activity Reports (SARs) to the local authorities. Siron^®ACM supports this process with integrated workflow and task queuing capabilities.

Risk Assessment

Siron^®RAS is an application for the creation of an institution-specific risk/threat analysis, taking into account the business environment, the products, the processes, etc. The functional definition of threats in Siron^®RAS is built upon the requirements according to the “guideline for generating a threat analysis/risk analysis” provided by some legal authorities in Europe and supports AML officers with the complete and continuous management of a threat analysis.

Tax Regulations Compliance

Siron^®TCR is the module for a successful & fast implementation of FATCA and OECD CRS tax reporting requirements at banks & insurances. This innovative module integrates seamlessly with your IT environments & helps to comply with IRS FATCA & OECD CRS regulations (Automatic Information Exchange). Through its flexible rule sets, SironTCR complies with both FATCA & CRS requirements. The reporting component enables secure data transfer to IRS & national tax authorities. The solution builds on several components:

Automated identification, classification, and documentation of new and existing customers
Customizable Case Management and Workflow
Electronic reporting

Cockpit & Reporting

Siron^®RCC (Siron Risk and Compliance Cockpit) provides financial institutions and other organizations with a complete company-wide overview of the status and effectiveness of their activities in the fight against financial crime. It consolidates and visualizes all information necessary in one management cockpit, delivering daily updated data of the Compliance and Risk Management activities. It allows the determination of current status, shows need for action, gives users the possibility to determine specific key performance indicators (KPIs), their controlling and shows the measures effectiveness. Sensitive information such as data associated with clients stay on their system of origin, only accumulated information is transferred and then visualized in various pre-defined cockpit templates.

AML Advanced Analytics

AML Advanced Analytics are based on collaborative
profiling and FICO’s patented soft-clustering technology.
The objective is to further reduce false positives by better
understanding behavior patterns. This tool is producing 2
additional scores, that can be used independently or
together, and which are reducing alerts with the help of
machine learning.

Sanction Filtering

Siron^®Embargo is the “sanction filtering” module enabling the real-time screening of your SWIFT, SEPA and other payments against multiple watch-lists (OFAC, BoE, UN, World-Check, etc.) ensuring that individuals, groups, and organizations on whom sanctions have been imposed can no longer access financial services, resources or instruments.

Watchlist Management

Siron^®AML includes a true multi-list management for sanction, commercial, internal and other lists. It supports multi-languages as well as multi-alphabet and has pre-built filtering options. Loading and updates run automatically via standard connectors.

KYC / CDD

Siron^®KYC provides Business Partner Due Diligence and complete lifecycle assessment of customer risk as part of your Onboarding process and ongoing customer monitoring. It offers Business Partner Screening (sanction scan / PEP check) and includes dynamic questionnaire capturing, ongoing checks, risk rating and workflow based case management. Watch-list management with standard adapters to all major databases is integrated. CEB Tower Group appraised this solution with two “Best-in-Class” accolades. It may be extended to ICOS, a fully automated Onboarding solution for guided and structured multi-channel capturing, automated formalities and suitability and risk profiles for every type of account and service.

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