The financial services industry is under increased pressure to take a leading anti-money laundering role to prevent any potential terrorist funding. The reality is that only financial institutions have the ability to understand transactional behavior and truly know their customers. As legislative pressure has increased, the definition of money laundering has greatly expanded. Failure to put in place a comprehensive compliance program means risking large fines, reputational damage, depreciated share value, and costly legal battles.

"The Fortent anti-money laundering technology is a core component of Barclays' risk management strategy and its money laundering detection program. We believe the only sure way of capturing all suspicious behavior is through the Fortent philosophy that every transaction counts." 

Howard Smith, Manager, Barclays AML Center

We have been closely involved in the anti-money laundering community for over a decade. We are one of the only anti-money laundering software vendors to have presented to organizations such as the FATF (Financial Action Task Force) and the Egmont Group. This has enabled us to develop a deep understanding of the challenges that your institution faces as money laundering becomes increasingly sophisticated. The challenge is to monitor and understand every single transaction, enabling the effective identification of unusual, suspicious, and high-risk behavior. A new approach to risk management and money laundering prevention is needed, one that scrutinizes all transactions using a synthesis of automated intelligence and human analyst expertise.

Anti-Money Laundering (AML) software solutions from Fortent- endorsed by the American Bankers Association
Built on best practice and designed for rapid deployment, the Fortent anti-money laundering technology has established itself as the most effective and efficient solution for tackling financial crime available on the market today. Following an extensive due diligence process, the American Bankers Association endorsed the Fortent anti-money laundering software solution as "best in class." 

Anti-Money Laundering - affordable best practice
To meet this challenge, we have developed the industry's most affordable and complete anti-money laundering solution that is based on best practice and is currently used by local, regional, and global banks. Our anti-money laundering technology can be rapidly deployed and integrated into environments where transactions range from 10,000 to 50,000,000 a day. When a potential money laundering risk is detected, it is escalated to an analyst for review and the business process is driven to ensure that all risk issues are resolved. Every aspect of our anti-money laundering solution is designed to maximize the power of technology and to merge it with the intelligence of professional staff to provide high quality and efficient risk mitigation. It increases the effectiveness and efficiency of the whole money laundering detection process and is an essential component of a comprehensive compliance program. Based on the philosophy that every transaction counts, our anti-money laundering solution effectively enables your institution to put in place an intelligent account monitoring system that puts into context every dollar and non-dollar transaction for every single account.

Fortent Hosted AML
For US financial institutions, Fortent also provides the option to host their anti-money laundering application. The hosted solution offers mid-sized and smaller institutions with limited IT resource a cost effective alternative to running AML systems within their own organizations, whilst gaining access to the most robust and powerful anti-money laundering system available on the market today. The hosted service is delivered in partnership with IBM.

Powerful 24x7 monitoring - protecting your institution today and tomorrow
Our anti-money laundering solution reviews every transaction based on individual and constantly adapting behavioral profiles that are generated and maintained for each account and customer. Each profile automatically and continually self-updates. This allows the effective reporting of activity that is genuinely unusual or suspicious. Our solution is also capable of scanning your business to identify known and unknown money laundering scenarios. These sophisticated detection techniques mean both new and existing forms of money laundering can be detected - safeguarding your institution today and tomorrow.

Anti-Money Laundering - managing the challenge
Our anti-money laundering solution automatically organizes and presents all available information relating to detecting unusual, suspicious, and high-risk activity. It saves resources and time through streamlining the whole money laundering investigation process. The workflow drives the escalation process, automatically directing relevant information to specific users, escalating as required and also automatically generating reports required by regulators.

Protecting financial institutions of all sizes from money laundering threats
Fortent operates in financial institutions of all sizes, from institutions with 10,000 transactions a day to those that generate over 50,000,000 transactions a day. Fortent's anti-money laundering technology has been engineered to be highly scalable and flexible, meeting the needs of your institution today and tomorrow.

For more information about Fortent's Anti-Money Laundering solutions contact us.