In many cases, today’s systems generate hundreds of thousands of transaction alerts which require investigation. The resources needed to support these investigations require an army of analysts, investigators, and auditors, and represents the largest expense of AML programs within most financial institutions.
The next big shift in the fight against financial crime and money laundering is advanced machine learning and sophisticated data science.
Cloudera and Booz Allen Hamilton riskCanvas can help you automate most of the manual processes and decrease the time to action on possible fraudulent transactions.
riskCanvas is an end-to-end AML software platform designed to meet the comprehensive needs of today’s AML program. riskCanvas can be implemented as a complete package or in individual modules to address niche AML gaps. riskCanvas includes the following modules:
- KYC / CDD / EDD data collection
- Customer risk scoring using riskDNA™ AML risk algorithm
- Transaction monitoring
- Automated alert triaging
- Case management and workflow automation
- Investigation acceleration / Single view of the customer
Solutions architecture diagram
Lower Business Risk
About Booz Allen Hamilton
Booz Allen Hamilton provides management and technology consulting and engineering services to leading Fortune 500 corporations, governments, and not-for- profits across the globe. Booz Allen Hamilton partners with public and private sector clients to solve their most difficult challenges through a combination of consulting, analytics, mission operations, technology, systems delivery, cybersecurity, engineering and innovation expertise.
To learn more visit boozallen.com/financialcrimes