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Anti-Money Laundering

Money laundering is the route for funding for various illegal activities such as tax evasion, terrorist activities, etc. It is important for banks to have a robust monitoring system to avoid involvement in any finance related illegal activity.

As per regulatory requirement, all banks are required to strictly adhere to the AML / KYC guidelines as highlighted by RBI / FIU and other regulatory bodies from time to time. In absence of any software support, it becomes very difficult for banks to comply with this regulatory requirement.

 
Overview

Ongoing monitoring is an essential element of effective KYC procedures. Banks can effectively control and reduce their risk only if they have an understanding of the normal and reasonable activity of the customer which is not a simple task. C-Edge provides Anti-Money laundering product to banks which can simplify the task of monitoring suspicious transactions and help avoid money laundering.

Our product is an end-to-end solution, capable of detecting money laundering activities and generates mandatory statutory reports. This enables banks to be compliant with anti-money laundering guidelines.

Benefits

Our AML product provides following benefits:

  • Effective Monitoring: Allows proper monitoring of all suspicious transactions
  • Early Detection: Helps in early detection of suspicious transactions
  • Customer Behavior: Allows bank to understand customer behavior
  • Best Practices: Follows AML guidelines and best practices
C-Edge Advantage
  • Available on Cloud
  • Seamlessly integrated with Core Banking Solution & other channels
  • Ready to deploy
  • Regular functional upgrades
  • Compliant with regulations
  • Secure application

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Testimonials

The Hon. Chief Minsiter has lauded MRB’s efforts as well as our technology partner, C-Edge for their commendable support in providing banking facilit...

Mr. Mukul Jeishi Chairman of Meghalaya Rural Bank

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