{"id":14459,"date":"2020-04-02T14:03:52","date_gmt":"2020-04-02T14:03:52","guid":{"rendered":"https:\/\/mapfintech.com\/?p=14459"},"modified":"2022-09-22T05:21:28","modified_gmt":"2022-09-22T05:21:28","slug":"map-fintechs-ai-enabled-aml-transaction-monitoring-and-screening-solution-now-available","status":"publish","type":"post","link":"https:\/\/complyport.com\/transaction-reporting\/map-fintechs-ai-enabled-aml-transaction-monitoring-and-screening-solution-now-available\/","title":{"rendered":"MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening Solution Now Available!"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box nonhundred-percent-fullwidth\">\n<div class=\"fusion-builder-row fusion-row \">\n<div class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-one-full fusion-column-first fusion-column-last 1_1\">\n<div class=\"fusion-column-wrapper\" data-bg-url=\"\">\n<p>MAP FinTech, a leading regulatory technology provider in Cyprus, is delighted to announce the launch of its AI-Enabled AML Transaction Monitoring and Screening Solution, now available via the firm\u2019s powerful and award-winning Polaris platform.<\/p>\n<div class=\"fusion-clearfix\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-fullwidth fullwidth-box nonhundred-percent-fullwidth\">\n<div class=\"fusion-builder-row fusion-row \">\n<div class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-one-full fusion-column-first fusion-column-last 1_1\">\n<div class=\"fusion-column-wrapper\" data-bg-url=\"\">\n<p>MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening is a trustworthy and modern solution that efficiently addresses the risk of money laundering and terrorist financing, having been designed to help firms comply with their regulatory requirements in regards to anti-money laundering (AML) and counter terrorist financing (CFT). This solution is available as part of the <a href=\"https:\/\/mapfintech.com\/polaris-platform\/\">Polaris platform<\/a>.<\/p>\n<div class=\"fusion-clearfix\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-fullwidth fullwidth-box nonhundred-percent-fullwidth\">\n<div class=\"fusion-builder-row fusion-row \">\n<div class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-one-full fusion-column-first fusion-column-last 1_1\">\n<div class=\"fusion-column-wrapper\" data-bg-url=\"\">\n<h4 data-fontsize=\"17\" data-lineheight=\"20\"><strong>Why is transaction monitoring important?<\/strong><\/h4>\n<p>In a\u00a0<a href=\"https:\/\/eba.europa.eu\/sites\/default\/documents\/files\/documents\/10180\/2622242\/1605240c-57b0-49e1-bccf-60916e28b633\/Joint%20Opinion%20on%20the%20risks%20on%20ML%20and%20TF%20affecting%20the%20EU%27s%20financial%20sector.pdf?retry=1\">Joint Opinion<\/a>\u00a0published in October 2019 by EBA, EIOPA and ESMA, the three main European Supervisory Authorities (ESAs), the said authorities found weaknesses in the control frameworks of financial institutions in regards to transaction monitoring and suspicious transactions reporting, especially in segments with high volumes of transactions. The ESAs also acknowledged in their opinion that the use of new technologies offers ample opportunities to better fight financial crime.<\/p>\n<p>The Financial Action Task Force\u2019s (FATF) recommendations on the international standards on combating money laundering and the financing of terrorism and its proliferation provide that financial institutions, when implementing their risk-based approach, \u201cshould have in place processes to\u00a0<strong>identify, assess, monitor, manage and mitigate money laundering and terrorist financing risks.<\/strong>\u201d<\/p>\n<p>Furthermore, Article 15 of the EU\u2019s 5<sup>th<\/sup>\u00a0AML Directive (Directive (EU) 2015\/849 amended by Directive (EU) 2018\/843) provides that \u201cMember States shall ensure that obliged entities carry out sufficient\u00a0<strong>monitoring of the transactions<\/strong>\u00a0and business relationships to enable the\u00a0<strong>detection of unusual or suspicious transactions.<\/strong>\u201d<\/p>\n<div class=\"fusion-clearfix\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-fullwidth fullwidth-box nonhundred-percent-fullwidth\">\n<div class=\"fusion-builder-row fusion-row \">\n<div class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-one-full fusion-column-first fusion-column-last 1_1\">\n<div class=\"fusion-column-wrapper\" data-bg-url=\"\">\n<p><strong>How can MAP FinTech assist you?<\/strong><\/p>\n<p>MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening Solution allows you to monitor your customer transactions on a daily basis or in real time to detect suspicious activity.<\/p>\n<p>Our solution provides organisations with an in-depth analysis of customer profiles, risk levels and activity by aggregating and analysing customers\u2019 historical information, account profiles and actual transactions. Our tool can also perform real-time sanctions and blacklist screening of transactions prior to execution.<\/p>\n<p>MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening allows clients to enjoy a cost-efficient, integrated solution delivered via a single platform, together with the rest of Polaris\u2019 offerings and our team of experts\u2019 \u00a0impeccable support services.<\/p>\n<p>Learn more about MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening Solution\u00a0\u00a0<a href=\"https:\/\/mapfintech.com\/wp-content\/uploads\/2020\/04\/AML-Flyer_02042020.pdf\"><strong>here<\/strong><\/a><\/p>\n<\/div>\n<p><strong>About MAP FinTech<\/strong><\/p>\n<p><strong><u><a href=\"https:\/\/mapfintech.com\/\">MAP FinTech<\/a><\/u><\/strong>\u00a0is a leading and award-winning regulatory technology provider for the financial services industry, specialising in reporting solutions arising from the requirements of a number of complex and challenging international regulations such as EMIR, MiFID II, MiFIR, FATCA and CRS. MAP FinTech also provides innovative and comprehensive solutions for Best Execution Monitoring, RTS 27\/28 reporting, AI Transaction Monitoring and Screening (AML), eKYC (Screening, eIDV, Document Authentication), Trade Surveillance (Market Abuse), and\u00a0SFTR.<\/p>\n<p>For more information on our\u00a0products and services, please visit our website at\u00a0<a href=\"https:\/\/www.mapfintech.com\/\">www.mapfintech.com<\/a>\u00a0or contact our team at +357 2535 1335 \/ +44 207 060 5540 or via email at\u00a0<a href=\"mailto:info@mapfintech.com\">info@mapfintech.com<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MAP FinTech, a leading regulatory technology provider in Cyprus, is delighted to announce the launch of its AI-Enabled AML Transaction Monitoring and Screening Solution, now available via the firm\u2019s powerful and award-winning Polaris platform. MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening is a trustworthy and modern solution that efficiently addresses the risk of money laundering and terrorist financing, having been designed to help firms comply with their regulatory requirements&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-14459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-events"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AI-Enabled AML Transaction Monitoring and Screening Solution<\/title>\n<meta name=\"description\" content=\"MAP FinTech\u2019s AI-Enabled AML Transaction Monitoring and Screening Solution Now Available As Part Of The Polaris Platform!\" 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