Poseidon AML

Poseidon AML, developed by Natech Financial Software, is a certified banking solution designed to address the challenges of money laundering and terrorist financing. According to the vendor, this software is suitable for various organizations, including banks, financial institutions, compliance officers, risk managers, anti-money laundering professionals, and regulatory agencies. Poseidon AML aims to assist these entities in preventing and detecting illicit financial activities while ensuring compliance with regulatory requirements.

Key Features

Scoring: According to the vendor, Poseidon AML provides scoring functionality to assess the risk associated with customer transactions. It aims to identify suspicious patterns of transactions that may require further investigation, assisting in the detection and prevention of money laundering and terrorist financing activities.

Profiling: Poseidon AML enables users to create and maintain customer profiles based on their transactional behavior. The vendor states that this feature facilitates the identification of deviations from normal behavior and the flagging of potential risks. Ongoing monitoring of customer activities is supported to detect any suspicious or high-risk behavior.

Watch Lists: Poseidon AML allows users to connect with watch lists and provides the ability to set new ones. The vendor claims that it checks various negative lists, such as OFAC, to ensure compliance with Know Your Customer (KYC) requirements. This feature aims to assist in identifying politically exposed persons (PEPs) and conducting sanction list checks.

Screening & Alerting: According to the vendor, Poseidon AML offers screening functionality to identify suspicious transactions and activities. It can monitor customer transactions in real-time or offline (batch) mode, generating alerts for potential suspicious activities that require further investigation.

Reporting & MIS: Poseidon AML generates reports on demand for compliance purposes. The vendor states that it provides management information system (MIS) capabilities to track and analyze AML/AFT processes. This feature aims to assist organizations in meeting regulatory reporting requirements and maintaining audit trails.

AC customer-centric & transactional approach: The vendor claims that Poseidon AML adopts a customer-centric approach to understand the full picture of customers and their transactions. It focuses on customer identity management and due diligence checks, aiming to ensure compliance with AML regulatory requirements and enhance customer risk assessment.

Risk categories management and definition: Poseidon AML allows the management and definition of risk categories based on specific criteria. The vendor states that users can customize risk assessment parameters and thresholds, helping in categorizing customers based on their risk levels and implementing appropriate control measures.

Reports generated on demand: According to the vendor, Poseidon AML provides the flexibility to generate reports as needed. It supports customizable report templates and formats, allowing easy access to relevant information for compliance purposes.

Flow definition and rule-based monitoring: Poseidon AML enables users to define workflow processes and rules for monitoring customer transactions. The vendor claims that the software automates the monitoring process based on predefined rules and thresholds, aiming to streamline AML control procedures and ensure consistent monitoring practices.

Connection with watch lists and ability to set new ones: Poseidon AML integrates with external watch lists, such as OFAC, for compliance checks. It also allows the addition and management of custom watch lists, ensuring compliance with regulatory requirements by screening customers against relevant watch lists.