Neobanks

Your customer base grows fast and so does the number of transactions. With traditional monitoring, every extra transaction can mean extra alerts and extra investigations. Somewhere in that growing pile are the alerts that really matter.

Are the right alerts reaching the top of the queue?

You launch new products and enter new markets quickly. Each step changes the risk profile of your customers. Cross-border payments and new types of transactions make behaviour harder to read. Controls that worked last year may miss what matters today.

Your controls have to change just as fast.

You run a lean, technology-driven organisation. That is part of what makes you fast. But every new financial crime expert takes time to find, hire and train. And people who know AML in practice are hard to find.

Hiring alone will not close the gap.

Having controls in place is no longer enough for regulators. They want to see how those controls work and how your team uses them. What do they catch, and what do they miss? You also have to explain why every alert was followed up or closed.

Do you know what your regulator will ask, and can you show it?

Every customer has a pattern of normal behaviour. Anything outside that pattern is unexpected, and it pushes the risk score up. A new address, a salary that stops coming in, a large deposit nobody expected: each of these is a signal, and some weigh more than others. What makes the job hard is the combination. Weighing all those signals together takes knowledge and skill that you build up over years.

Do you have the time to build that knowledge from scratch?

Criminals change their methods. Over time, any solution drifts away from what it was built to catch. You often only notice when something has already slipped through. And when it does, your bank is the one that has to explain it.

Who keeps it accurate, every day?