Alessa by Tier1 Financial Solutions

Alessa, is a compliance, controls monitoring and fraud prevention solution that allows organizations to quickly identify suspicious activities and high-risk entities in compliance, finance, and purchasing programs.

The vendor states that Alessa is trusted by banks, credit unions, Fintechs, insurance, gaming, manufacturing and retail companies in over 20 countries to prevent money laundering, breaches in internal controls, purchase card (p-card) abuse, travel and entertainment (T&E) expenses fraud, and insurance fraud.

When configured as an AML solution, Alessa offers customer due diligence, sanctions screening, transaction monitoring and automated regulatory reporting for various jurisdictions. As a procurement monitoring solution, Alessa includes p-card and T&E expense monitoring functionality as well as vendor risk management and procurement controls monitoring. As a continuous controls monitoring solution, Alessa can do everything from ensuring the integrity of accounts receivables and payables accounts to purchasing and payroll monitoring.

Alessa includes advanced analytics that are AI-driven to detect complex fraud schemes across departments and systems; configurable workflows that guide employees through policies and processes; and case management tools that can be used across multiple departments for investigations, remediation and enrolling the entire organization in a culture of compliance.