Crypto AML : Read the White Paper “Off to New Financial Crime Worlds: The Crypto Challenge”
DownloadCompliance transaction monitoring is resource-intensive, time-consuming, error-prone, and costly. Siron®One uses automation, advanced AI and machine learning to effortlessly monitor and analyze large volumes of data, mitigate risks, and comply with compliance regulations.
AML transaction monitoring is an overwhelming task involving processing large volumes of data from multiple sources, often resulting in a high percentage of false positive alerts. Not identifying and blocking transactions in real time can lead to financial loss and reputational harm.
Financial crime techniques are ever-evolving, as are regulations and penalties for non-compliance. Variations in jurisdictional requirements further complicate global compliance efforts. Moreover, compliance officers face high pressure to stay ahead of emerging regulations across jurisdictions.
Legacy systems are not adapted to new compliance frameworks, aren’t scalable to monitor large and complex data, and cannot keep up with constantly changing regulations, requirements, or financial crimes.
Siloed systems and data increase compliance risks, delay decision-making, and hinder financial crime investigations. Without a unified view of data and work across all owners and processes, it’s challenging to understand the alert priority or take timely actions.
Siron®One is designed to save you countless hours of manual work. By leveraging Robotic Process Automation (RPA), AI, and Machine Learning, it automates routine, repetitive, data-intensive and time-consuming processes, allowing you to focus on more valuable tasks.
Siron®One combines the best of two worlds—AI and machine learning with a rule-based approach to calculate risk scores, prioritize alerts and reduce false positives. This hybrid approach ensures greater accuracy and more effective alert management while meeting regulatory expectations for alert transparency and explainability.
Siron®One integrates AI into its alerting and decision-making processes to enhance alert effectiveness and overall efficiency. With over 300 predefined client profiles and a combination of supervised and unsupervised approaches, Siron®One identifies potential suspicious activities with exceptional precision. This approach, which merges AI with advanced statistical methods, minimizes manual effort and dramatically improves resolution times, ensuring swift and agile operations.
Siron®One’s Rule Editor lets you easily define and adjust business rules and thresholds with a no-code approach. You can also run transaction monitoring simulations, testing rules and thresholds on real data over a set period without disrupting production operations, allowing for necessary adjustments.
Siron®One’s alert and case management capabilities streamline investigative work and boost operational efficiency by automating alert pre-processing. Case Management offers a holistic approach to compliance with a 360-degree view of customer risk. This data-centric method enhances the quality of alerts and cases, significantly improving the overall efficiency of your financial crime compliance teams.
In addition to a wide range of predefined reports, Siron®One offers regulatory reporting, which can be programmed for automatic creation. Siron One’s regulatory reporting capability supports the international standards goAML. It can also be adapted to local reporting requirements, enabling financial institutions to send suspicious activity reports (SARs) to relevant authorities in one click.