Siron®Anti-Financial Crime Solutions
Anti-financial crime solution to manage all compliance aspects
IMTF is one of the main product and delivery partner of FICO and has over 20 years of experience in delivering, implementing and configuring FICOs Siron®Anti-Financial Crime Solutions.
Siron®AML is a best-in-class solution to fight Money Laundering with an advanced analytics solution. It allows to identify and report suspicious activities; to better understand customers, relationships, and behavioural changes.
It combines powerful analytics including machine learning (AI) to reduce alerts to those with the highest relevance and allows to automate investigation and decisioning processes with process automation to increase efficiency and lower the costs in AML Compliance.
Siron®AML follows a risk-based approach; it is a highly flexible, scalable and quickly adaptable application and gives compliance complete control over the scoring process. Packaged offerings exist for all types of industries (banking, insurance, securities).
Know Your Customer
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 can be extended to ICOS, a fully automated Onboarding solution for guided and structured multi-channel capturing, automated formalities and suitability and risk profiles for each account and service type.
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.
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.
Siron®Embargo is the “sanction filtering” module enabling 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.
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.
Siron®RAS is an application for the creation of an institution-specific risk/threat analysis, taking into account the business environment, products, processes, etc.
The functional definition of threats in Siron®RAS is based on the requirements of 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 Compliance & Reporting
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. 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
Risk & Compliance Cockpit
Siron®RCC (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 on Compliance and Risk Management activities. It helps determine the current status, shows the need for action, gives users the ability to determine specific key performance indicators (KPIs), monitor them and show the effectiveness of the measures. Sensitive information such as customer data remains on their system of origin, only accumulated information is transferred and visualised in various predefined cockpit templates.
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