Aithent Alert Manager

Aithent Alert Manager

Overview
  • Sorting through the hundreds upon thousands of alerts to apparent financial crimes or suspicious activity that are generated daily by detection systems is a time-consuming and resource intensive process for any type or size of financial institution. Given the unrelenting rise in fraud and money laundering, the task takes more resources and is less and less effective in controlling financial crimes as well as allowing the institution to meet its internal and regulatory compliance requirements.


Detection solutions implemented to reduce operational risk at financial institutions flag payments, customers and transactions that match certain defined criteria generating a veritable avalanche of alerts; of which as many as 95 percent draw attention to a false positive, the erroneous identification of what is not a financial crime, a fraud or regulatory violation.



Aithent Alert Manager™ is a browser-based solution that allows financial institutions to gain control of its flow of alerts and, thus, make its compliance, investigation and fraud prevention efforts more effective.


It sits between the in-place detection systems and an institution’s financial crime case management systems, used by investigative groups. Aithent Alert Manager is designed to work with any currently available detection and/or case management system.


Aithent Alert Manager takes sophisticated workflow technology and blends it with the knowledge of alert patterns an institution has gained over time as well as its operational business rules to cut the number of false positives – to zero. The solution can be customized to work with any alert type where the administrator can build specific rules to deal with alerts from intake through to resolution. Key features of the solution include the ability to augment alerts with pertinent data resident on the bank’s systems and to build configurable workflows which assign the alerts to the appropriate analyst team.


By weeding out the false positives and focusing only on those suspicious activities that warrant further scrutiny, the associated compliance activities, such as submission of Suspicious Activity Reports to the Financial Crimes Enforcement Network of the United States Treasury or matters relating to the Bank Secrecy Act and anti-terrorism, will be handled with greater efficiency. The end-product is compliance attained and maintained with greater ease and certainty.

Features & Benefits

Dashboards

ACM-Dashboard
Dashboard illustrates how investigation managers and senior management can see a complete picture of all activities and progress for their teams with the ability to drill down quickly to get more detail.

Case Management

  • Manage all fraud and compliance activities
  • Control cross channel and multiple account fraud cases
  • Connect the dots to find and stop enterprise-level fraud
  • Easily integrate fraud and compliance sources and related Legacy Data
  • Effectively manage Suspicious Activity Reporting(SAR) and Regulatory Compliance Processes
  • Support Incident Assessment and Decision Process


Graphical Analysis

Identify and graphically represent relationships between multiple cases for easy inferences
ACM - Graphic Analysis

Data Integration

  • Easily integrate fraud and compliance sources and related Legacy Data
  • Pre-investigate – Incident Assessment and Decision Process


Security

  • Configurable security supporting authentication and authorization capabilities
  • Ability to restrict access to cases on screen and reports through application defined authorization rules


Workflow

  • Allow users to define workflows that best suit organizational needs allowing standardization of the most effective practices for investigating suspicious activity reporting and address compliance requirements


Regulatory Reporting

  • Supports a variety of reports ranging from productivity reports (Key Volume and Metric Reports) to management reports (Case Load by Investigator, Restitution Obtained by Investigators, Effort/Activities of Investigators) to compliance reports (SAR, Annual Reports to State IFB)


Audit Trail

  • Maintains a chronological sequence of user activities on the system, thus providing the capability to reconstruct all the events of a case
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