Conquering compliance challenges: Efficient, transparent and intelligent.
- Resource-efficient list screening: Smaragd enables a market-leading low false positive rate and therefore resource-efficient list screening.
- Always compliant: Smaragd tracks local and global regulation dynamics. Our integrated approach then ensures that you will always comply transparently with the latest regulations.
- Saves time and resources: The implementation of artificial intelligence enables time and resource-saving compliance with specified rules and the effective fight against financial crime.
Functional scope of the Smaragd Compliance Suite
Customer screening
Financial institutions are obliged to regularly check their customers against relevant sanctions and embargo lists. The Smaragd Compliance Suite screens the institutes's customer portfolio based on the in-house developed Smaragd FuzzySearch and a flexibly configurable set of rules.
The additional Webcheck and Webfilecheck modules can also be used to carry out online queries of individual records or files, allowing suspicious individuals or companies to be identified during onboarding processes.
The additional Webcheck and Webfilecheck modules can also be used to carry out online queries of individual records or files, allowing suspicious individuals or companies to be identified during onboarding processes.
Transaction screening
The Smaragd Compliance Suite checks transactions (including instant payments) in real time for sanctions violations while accessing internal and external sanctions and embargo lists.
The central component of the screening is the Smaragd FuzzySearch, an in-house developed similarity search that calculates the degree of similarity between the relevant transaction data and list entries.
A flexibly configurable set of rules specifies the type of inspection and controls the associated evaluation.
The central component of the screening is the Smaragd FuzzySearch, an in-house developed similarity search that calculates the degree of similarity between the relevant transaction data and list entries.
A flexibly configurable set of rules specifies the type of inspection and controls the associated evaluation.
Politically exposed persons
Politically exposed persons (PEPs) are subject to increased due diligence. The PEP module identifies exposed persons and can be used for company-wide risk assessments of customer portfolios. This is made possible by the integration of lists such as Dow Jones, WorldCheck and others.
Negative media screening works in the same way. The focus here is on the reputation of the persons to be screened.
Negative media screening works in the same way. The focus here is on the reputation of the persons to be screened.
Combating money laundering
A rule-based evaluation daily identifies suspicious transactions, behavioral patterns and customer relationships. A best practice set of rules is based on many years of cooperation with national and international banks and can be matched to specific situations. An integrated simulation system tests the effectiveness of rule and parameter modifications and the expected number of cases.
An optional goAML component reports on suspicious activity, uploading the reports to the FIU portal.
An optional goAML component reports on suspicious activity, uploading the reports to the FIU portal.
Customer risk assessment
The Smaragd Compliance Suite supports the risk-based management of the entire customer risk lifecycle – from accepting new customers to monitoring existing customers. Risks for each customer are determined individually and assigned a risk class.
The customer risk rating is based on all factors identified as part of the risk analysis, such as geographical location, sector affiliation and creditworthiness.
The customer risk rating is based on all factors identified as part of the risk analysis, such as geographical location, sector affiliation and creditworthiness.
