Aithent Diligence Manager

Aithent Diligence Manager

  • Aithent Diligence Manager

    • Extensive Data Management
    • Deployment of rules and predictive models
    • Monitor customer activity over time
    • Black Lists and Regulatory Reports

The Challenge

Banks and other financial institutions are the targets of an increasing number of complex schemes devised and perpetrated by fraudsters and money launderers who are considered and treated as customers. These customers are a high risk to your institution.

It is necessary to know who these undesirable types are and how they use and abuse your services as mandated by the Bank Secrecy Act (BSA) and Patriot Act. It is necessary to know your customers in order to mitigate risk, check for money laundering, reduce identity theft, and detect terrorist financing, among other threats and misdeeds. Also important is to identify customers on the blacklist in a timely manner.

Many institutions attempt to combine multiple disparate components in an attempt to locate and identify high risk customers. Doing so makes it difficult to evaluate and improve upon their knowledge bases or to inform internal regulatory units and law enforcement agencies.

A truly integrated system that addresses enhanced due diligence is needed.

Aithent Diligence Manager

Aithent Diligence Manager provides a holistic approach to enhanced due diligence (EDD) for financial institutions of all sizes and types. It brings together all elements of EDD into a tightly integrated solution that strives to identify risky customers, understand their patterns, and investigate any apparent violations in banking procedures or criminal code into a single solution.

Aithent Diligence Manager differs from other EDD systems in that they look at the process through a narrow focus. Additionally, data blending doesn’t occur smoothly or predictably. Merging information more often than not yields little insight that can be used to take precise action.

Aithent Diligence Manager adjusts to the way your institution operates and the tendencies of your customers.

Why Aithent Diligence Manager?

The Advantage of Centralized Knowledge

Aithent Diligence Manager creates and maintains a central data repository. This “data warehouse” serves to provide reliable and consistent information regarding high risk customers and their activities. The quality of reports is enhanced by Aithent Diligence Manager’s data warehouse by leveraging historical transaction data and affording reference and context to the identified activity.

Optimizing Risk Levels

Deploy Aithent Diligence Manager on its own or to further enhance another detection system already in place, it will reduce your risk exposure and allow effective management of the truly high risk customers. Business rules and logic that utilize risk scores for each customer are employed to create subsets of high risk customers. Aithent will work with your institution to provide the necessary risk based solutions.

Improving your Diligence through a flexible System

Aithent Diligence Manager allows your organization to modify and customize business rules as well as develop new rules and predictive models based upon the insight gained. Custom reports such as wires, Cash, ACH, Non Resident Accounts (NRA) may be generated to closely monitor specific customers for a more thorough review.

Beyond Diligence

Aithent Diligence Manager seamlessly integrates with Aithent Fraud Manager (AFM), a fraud investigation case management and compliance solution. AFM fully supports and speeds the efforts of corporate security, physical security, electronic banking, BSA/AML, and more. Combining AFM and Aithent Diligence Manager provides your institution with a deeper understanding of its risk exposure and management. AFM provides additional reports ranging from investigator efficiency through board-level analysis of risk exposure

Features & Benefits

Aithent Standard
Aithent works with your institution to analyze your data to create customized business rules and predictive models. Business rules can be updated and new ones created on an as need basis, or as your customer activity changes.

Comprehensive Data
All data is designed to be stored in an optimized repository to further enhance the generated reports and for analysis, leading to improved and more timely accurate business rules and predictive models.

Seamless Integration
Integrate with your institution’s core banking system, case management, and detection systems to fully take advantage of Aithent Diligence Manager.

Total View
A holistic view of risk at your institution. Automatic execution and generation of regulatory reports: wire, ACH, cash, Non Resident Accounts (NRA), Deposits and Loans.

Improved Productivity
The ability to create reports quickly for compliance purposes. An automated system to update back end data and to execute quarterly, monthly reporting for Risk and Compliance officers.

Enhanced Detection
Better quality of alerts to minimize investigative workload. Use of sophisticated models to examine past behavior of customer activity. A hybrid approach to detection: use of best practices

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