Financial institutions worldwide face mounting challenges in meeting the regulatory requirements of Bank Secrecy Act (BSA), Anti Money Laundering (AML), and Combating the Financing of Terrorism (CFT) programs. At Zencos, we offer an affordable, world-class AML as a Service solution that enhances analyst efficiency, investigation review, and compliance capabilities.
“Around $800 billion to $2 trillion are laundered every year. Unfortunately, about 90% of this amount remains undetected today”
Unleashing the Power of Agile and Cost-Effective AML Solutions
We recognize the challenges that financial institutions face with traditional AML solutions - the complexity, implementation difficulties, and high costs. However, regulatory requirements apply to institutions of all sizes, necessitating a tailored approach. That's why we developed Zencos AML as a Service, specifically designed to overcome these barriers and provide an industry-leading AML solution that is scalable, cost-effective, and agile. With our solution, financial institutions of all sizes can achieve regulatory compliance, streamline operations, and enhance their AML capabilities, without compromising on efficiency or breaking the budget.
Stay Compliant and Agile:
Our solution helps your institution meet current regulatory requirements and provides a framework for constant updates, ensuring you stay compliant in a dynamic regulatory landscape.
Democratized Advanced Analytics
Unlock advanced data management tools and analytics that were previously available only to larger banks, empowering your institution to make informed decisions and detect suspicious activities effectively.
Accelerated Implementation and ROI
Cut implementation time and cost with our streamlined solution, enabling financial institutions to realize the value of their investment quickly.
Driving Innovation: Zencos' Approach to AML Excellence
We have developed a comprehensive approach to accomplish the goals of our AML as a Service solution. Through automation, pre-built components, and a hosted and managed service model, we deliver an industry-leading solution that enhances efficiency, accelerates results, and ensures a seamless implementation experience. With our focus on leveraging technology and industry expertise, we empower financial institutions to overcome the barriers that have traditionally hindered their AML capabilities, providing a powerful framework for effective compliance and risk mitigation.
Automation and Pre-built Components
Our AML as a Service solution leverages automation to streamline business and technical processes, granting faster access to data and quicker results. We employ pre-built components, including packaged data management routines, enhanced data models, analytical models, fraud scenarios, and API integrations, to deliver a robust and efficient solution.
Hassle-Free Cloud Deployment
Our solution eliminates the need for on-premise infrastructure by offering a hosted and managed service. With Zencos taking care of 24/7 support and infrastructure maintenance, your institution can focus on high-value tasks, ensuring a secure and scalable environment.
Cutting-Edge AML Capabilities: Empowering Compliance and Risk Mitigation
With these robust capabilities, our AML as a Service solution empowers organizations to meet their AML regulatory requirements effectively and efficiently, reducing risk and ensuring compliance.
- Standardized Delivery Process
Our solution follows a standardized delivery process, ensuring consistency and efficiency in implementation.
- Comprehensive Transaction Monitoring
Benefit from transaction monitoring capabilities that encompass over 60 pre-built scenarios. This includes alert generation, triage, and a related workflow for seamless case creation and investigation management.
- Effective Sanctions Screening
Mitigate risks by screening customers and associates against known watch lists, enabling proactive identification of potential compliance issues.
- Customer Due Diligence (CDD)
Streamline the due diligence process with Customer Risk Ranking (CRR) and Enhanced Due Diligence (EDD) capabilities, allowing you to assess customer risk levels and conduct in-depth investigations when necessary.
- Automated Regulatory Reporting
Simplify reporting requirements with automated pre-population and electronic filing of regulatory reports, such as US SAR/CTR, Australian SMR/TTR, and Canada STR/CTR. Save time and ensure accuracy in regulatory compliance.
- Customer-Focused and Investigator-Focused Dashboards
Gain deeper insights and enhance analysis with our user-friendly dashboards designed to cater to both customer-focused and investigator-focused perspectives. Access the information you need to make informed decisions and conduct thorough investigations.
Tailored Pricing for Every Institution
We understand that AML solutions historically have been rigid and costly. With our AML as a Service solution, we offer tiered and flexible pricing, including a one-time enablement fee for initial setup and a flat monthly subscription fee that covers hosting expenses, solution software, and support costs. Pricing is tailored based on client asset size, number of active customers, and monthly transactions.
A Proven Leader in AML Compliance and Fraud Projects
Zencos is a trusted global leader in financial crimes and financial technology consulting. Our CAMS and CFE certified industry professionals have a proven track record of successfully delivering AML compliance and fraud projects. With our expertise in open-source, cloud computing, and SAS AML technologies, we provide an industry-leading AMLaaS solution, exceeding client expectations through our work ethic, passion, on-time delivery, problem-solving skills, and superior communication.