Reis Risk & Compliance Suite

Reis Risk & Compliance Suite is an AML software solution offered by Vneuron Risk & Compliance. According to the vendor, this suite is designed to assist financial institutions in fighting financial crime and ensuring compliance with AML and TF regulations. It is suitable for financial institutions of all sizes, including banks, insurance companies, leasing companies, stock market intermediaries, investment funds, and micro-finance companies. The suite offers a range of features and capabilities to streamline customer due diligence, transaction monitoring, case management, dashboards and reporting, and FATCA reporting.

Customer due diligence: According to the vendor, the suite helps fulfill international risk-based customer due diligence standards by collating all customer information in one place and checking customer names through connections to global data providers. It also allows for merging with existing KYC processes using flexible forms and workflows.

Transaction monitoring: The vendor claims that the suite enables strong sanctions compliance and reduces the risk of money laundering through real-time, AI-supported transaction monitoring. It can identify suspicious transactions by checking them against international sanction and watch lists and facilitate AML investigations of suspicious activity.

Case management: The suite is said to help analysts communicate and expedite case completion by aggregating all the necessary data for reviewing suspicious activity. It facilitates collaboration with team members and stakeholders, maximizes analyst productivity with flexible workflows, and automates regulatory SAR filings.

Dashboards, reporting, and logging: According to the vendor, the suite improves operational efficiency by providing extensively customizable dashboards for effective presentation of compliance data. It offers informative reporting to gain meaningful insights and automatically logs user activity to simplify future audits.

FATCA: The vendor claims that the suite automates FATCA reporting and filing, ensuring end-to-end compliance with the USA IRS regulation. It allows for capturing, collating, and validating customer data all in one tool and facilitates automatic filing of reports with the IRS.

Name screening: According to the vendor, the suite reduces false positives through advanced name screening against custom and major sanction and PEP list providers. It also handles non-Latin alphabets with an expert phonetic search engine.

Machine learning: The vendor states that the suite utilizes machine learning algorithms to enhance risk assessment and decision-making. It can identify patterns and anomalies in customer data and transactions, continuously improving accuracy and efficiency through self-learning models.

Statistical modeling: According to the vendor, the suite applies statistical models to analyze customer data and identify potential risks. It can predict customer behavior and detect suspicious activities, optimizing risk assessment and compliance processes.

Integration: The vendor claims that the suite seamlessly integrates with existing systems and databases. It allows for connecting with external data providers for real-time data updates and enables data sharing and synchronization across multiple platforms.

Customization: According to the vendor, the suite offers customization options to align workflows, forms, and rules with specific compliance requirements. It can be tailored to meet the unique needs of different industries and organizations, and user roles and permissions can be configured for appropriate access and control.