Strengthen your correspondent risk management
Strengthen your anti-money laundering (AML) and counter terrorist-financing procedures with our risk monitoring service.
Part of the Compliance Analytics portfolio, Correspondent Monitoring delivers the global, top-down reports you need for in-depth KYC reviews of your correspondents’ activities, with patterns flagged for investigation as they occur.
International regulatory bodies, including the Financial Action Task Force, the Basel Committee on Banking Supervision and the Wolfsberg Group, have encouraged stronger due diligence and AML monitoring of correspondent banking relationships. Many AML tools, however, are designed for retail rather than correspondent banking.
We’ve developed Correspondent Monitoring in close collaboration with the industry to address the specific requirements of correspondents for a group-level, top-down view of payment chains and relationships.
As it is SWIFT-hosted utility service, there is no hardware or software to install or maintain, making it quick and easy to embed into your operations.
Global top-down view
Correspondent Monitoring uses group-wide data to provide the global view you need to fully understand and robustly monitor your correspondent relationships.
Evaluate correspondent transaction activity based on 75 metrics, including volumes, values and behavioural changes, and nested relationships.
Alerts you to patterns of activity according to user-driven notification rules, determined by your policies and risk appetite.