Equifax launches real-time AML monitoring solution
The solution provides real-time screening of customer portfolios against global watchlists and adverse media.
Equifax UK has launched Automatic Watchlist Monitoring (AWM), a new solution designed to help regulated businesses automate anti-money laundering (AML) compliance and ongoing customer monitoring.
The solution provides real-time screening of customer portfolios against global watchlists and adverse media, covering financially sanctioned individuals, politically exposed persons (PEPs), relatives and close associates.
Equifax said AWM is intended to move AML compliance away from manual, periodic checks towards continuous monitoring, helping businesses identify changes in customer risk more quickly.
Businesses can configure screening rules according to their risk appetite, while the system provides an audit trail to support compliance reviews.
The solution is delivered through a single API and includes a centralised dashboard for case management.
AWM has been launched in partnership with NOTO amid increased regulatory expectations around ongoing Know Your Customer (KYC) monitoring.
Stephen Adams, principal consultant – identity & fraud risk at Equifax UK, said: “The launch of Automatic Watchlist Monitoring further expands our identity and fraud prevention offerings to clients to help more businesses operate more quickly, safely and in confidence.
“We are committed to providing clients with the most advanced tools to help fight financial crime, replacing time-consuming manual checks with an intelligent, automated, real-time solution to enable our clients to onboard customers faster and reduce operational burdens in an increasingly complex regulatory environment.”
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