Amlexa

Amlexa AML Software, developed by ITL Group, is an advanced Artificial Intelligence platform designed to streamline and automate the complex processes of remote customer due diligence, KYC (Know Your Customer), AML (Anti-Money Laundering) verification, risk assessment, and transaction monitoring. This software solution aims to cater to a wide range of industries, including cryptocurrency, gaming, financial institutions, and professional service providers. The vendor claims that Amlexa offers comprehensive AML solutions tailored to the specific business needs of companies, regardless of their size.

Key Features

AML Identification Module: According to the vendor, Amlexa's AML Identification Module simplifies remote onboarding and online identity verification. It allows businesses to collect customer information and data online and perform forensic tests to validate their ID and identity.

AML Verification Module: The vendor claims that Amlexa's AML Verification Module automates AML checks, PEP checks, and real-time AML validation. It verifies the presence of the customer in Politically Exposed Person List (PEPs List), Sanction Lists, AML Watchlist, and AML Blacklist. Additionally, it aims to confirm the accuracy of collected personal data and documentation.

AML Risk Assessment Module: According to the vendor, Amlexa's AML Risk Assessment Module offers real-time AML risk management. It evaluates various risks, including money laundering risk, customer risk, transaction risk, product or service risk, interface risk, and geographical risk. The module aims to identify suspicious behavior and assist businesses in making informed decisions on accepting or refusing the business relationship.

AML Transaction Monitoring Module: The vendor claims that Amlexa's AML Transaction Monitoring Module enables real-time screening and monitoring of AML transactions. It scrutinizes all transactions to ensure consistency with the customer's knowledge and AML risk profile. If any deviations from expected behavior are detected, the module collects additional information and documentation.

MLRO Back Office Services: The vendor states that Amlexa's MLRO Back Office Services streamline the reporting of suspected instances of money laundering or financing terrorism. It assists in investigating and determining the sufficiency of available information to notify the Money Laundering Reporting Officer (MLRO).