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.
SMARAGD Compliance Suite
Integrated approach
The SMARAGD Compliance Suite offers a comprehensive range of services tailored to the needs of the financial industry. It enables financial institutions to manage all aspects of compliance and regulation within a single, integrated system.
Future-orientated technology
With more than 40 years of experience in the financial industry, SMARAGD integrates the latest technologies and methods to effectively detect and prevent money laundering and fraud.
All the time ensuring compliance with sanctions.
All the time ensuring compliance with sanctions.
On the safe side
With the SMARAGD Compliance Suite, financial institutions cover every area of Anti-Financial Crime (AFC) – so you are always on the safe side.
Functional scope of the SMARAGD Compliance Suite
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.
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.
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, behavioural 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.
Correspondent bank monitoring
Foreign transactions are particularly susceptible to money laundering and terrorist financing. Increased due diligence obligations therefore apply to correspondent banking relationships.
The SMARAGD Compliance Suite provides risk-based monitoring of the correspondent banks involved. All parties involved in a foreign transaction (e.g. banks, clients and recipients) are identified and their risk assessed. A flexible set of rules ensures daily evaluation of all transactions and early detection of suspicious behaviour.
The SMARAGD Compliance Suite provides risk-based monitoring of the correspondent banks involved. All parties involved in a foreign transaction (e.g. banks, clients and recipients) are identified and their risk assessed. A flexible set of rules ensures daily evaluation of all transactions and early detection of suspicious behaviour.
Financial fraud
Identifying suspicious behaviour plays a major role in combating financial fraud. The large amounts of data involved generally means fraud can be identified only by using intelligent software. The software searches business data for fraud patterns and reports significant deviations from known behaviour.
Risk analysis
The German Money Laundering Act obliges financial institutions to prepare a risk analysis. The SMARAGD Compliance Suite enables an institution-specific risk model that determines the risks of money laundering, fraud and terrorist financing, taking various risk dimensions into account. The application structures the existing compliance risks in the company according to a tried-and-tested model. This allows prompt identification of risks and the initiation of appropriate measures.
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.
SMARAGD makes compliance smart
Integral data management
Artificial intelligence (AI) and the associated integrative data management are essential in the SMARAGD Compliance Suite. Machine learning and natural language processing (NLP) methods are used on existing data to derive insights into payment flows, behaviour and content.
Transaction screenings in real time
As part of the real-time transaction screening of payments, the Intelligent Alert Classifier (IAC) ensures a high degree of automation and thus leads to a significant reduction in manual effort in alert processing while complying with regulatory requirements. SMARAGD IAC provides a validated and comprehensible evaluation of alerts, based on previous alerts.
Increased efficiency and effectiveness
To combat money laundering, the AI component ICS (Intelligent Customer Segmentation) automatically clusters customers with identical transaction behaviour based on their transaction history. This optimises alert determination and significantly reduces false positives and the manual effort involved in alert processing.
Contact us.
Find out how SMARAGD Compliance Suite can be perfectly configured to your company's needs.
Do you want to become a partner?
We have a comprehensive range of co-operation opportunities. Find out how you can benefit from a partnership.
Do you want to become a partner?
We have a comprehensive range of co-operation opportunities. Find out how you can benefit from a partnership.
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