Correspondent Monitoring

Group-level monitoring of correspondent risks supports your AML and CFT compliance

Strengthen your correspondent risk management

Strengthen your anti-money laundering (AML) and counter terrorist-financing (CFT) procedures with the support of our new risk monitoring service: Correspondent Monitoring.
 
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, while automated alerts flag up patterns 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 highlighted the need to strengthen ongoing due diligence and AML monitoring of correspondent banking relationships. Yet many AML tools are designed for retail banking 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. 

Benefit from:

  • A single, standardised overview across your organisation, based on group-wide data
  • Activity profiling using 75 risk metrics for correspondent relationships and transaction activity, including nested relationships  
  • Automated alerts, based on user-driven parameters, to focus your investigations
  • Risk-scoring and modelling to identify high-risk areas

Correspondent Monitoring is a SWIFT-hosted utility service. There is no hardware or software to install or maintain, making it quick and easy to embed Correspondent Monitoring into your business as usual operations.

Global, top-down view for robust monitoring of correspondents

Correspondent Monitoring uses group-wide data to provide the global view you need to fully understand your correspondent relationships.

Activity profiling using 75 different metrics

Evaluate correspondent transaction activity based on 75 metrics, including volumes, values and behavioural changes and nested relationships.

Automated alerts are driven by your policies and risk appetite

Alerts you to patterns of activity according to user-driven notification rules

Want to find out more?

Correspondent Monitoring is a new module of Compliance Analytics.