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The first obvious thing to point out is that deciding what to do with a transaction depends on the use case. For example a transaction that needs to be manually reviewed because the user behind the transaction is exhibiting abnormal behavior has different requirements that a transaction being executed by a user that has matched a sanctions list, or a transaction that is considered risky from the e-commerce payment fraud perspective.

Before going into the details of a specific case within the IdentityMind platform, let’s talk about the user interface.

Regardless of whether you are looking at an anti-money laundering alert, a KYC/ onboarding application, a case or a payment transaction, as an analyst, the first thing you are going to see is what we call the summary table.

Image. Example of summary and details pane for looking at Onboarding/KYC Applications.

The summary table has all the items you have to work on. Clicking on an entry will display the details associated with it on the right-hand panel: The Detail Pane.

Image. Example of summary and details pane for looking at transactions.

The purpose of the details pane is to allow stakeholders to perform a quick action on that item. For example imagine you are dealing with cases. In general terms, there are two uses of the “Details Panel”. The manager, whose main goal is to quickly evaluate a case, assign it to an analyst, and to change the case classification; and the analyst who may want to quickly assess whether another case can help them analyze the case they are assigned to. For example they may want to look for cases that are like the one assigned to them, and see how they were resolved, before addressing their own assigned case.

So in that situation, the manager wants to see the case metadata and have available a list of analysts to assign the case to, while the analyst may want to see the types of alerts, or transactions that are associated with that case.

However, the actual details for the investigation are not at this level: they are at the drill-down level. We call this the “Dashboard”. In our dashboards, analysts can include different types of widgets that are needed for the investigations they are undertaking.

We discuss this infrastructure in the video below:

 

Periodic Testing Sanctions Match

Let’s look take a look at dealing with a sanctions hit match through the IdentityMind user interface. The following example is the result of applying periodic testing to periodically screen your client base against sanctions and PEP lists. 

 

Imagine you are an analyst in charge of reviewing any sanctions matches for your current client base.

  • You can search for the applications that need to be reviewed through periodic testing by using a filter to narrow the search to only view the new applications with a possible sanction hit
    • Filters:
      • Stage is Periodic Testing
      • Result is Undecided 
  • To view all applications from periodic testing 
    • Filter:
      • Stage is Periodic Testing
  • Select the application you would like to review.

 

 

By clicking on the investigate button at the bottom of the page we can go into the Application Dashboard, and see the details of the match.

  • You’ll be able to add the “External Services” widget in the application dashboard so you can see the sanctions screening results, which will help you determine if this is a true hit or a false positive.
  • After reviewing the possible hit, if you determine this is a “False Positive” you’ll be able to make notes and “Approve” the application.

What if this user requires further analysis?

  • If you’re unable to make a decision on the possible hit or if it requires further review, you’ll be able to open a case to track your investigation. 
    • The case can also be assigned to anyone on the team for review.
    • A tag can also be added to the case for tracking.
  • The case will be opened under the “Sanctions Screening” category so you can track it.
  • The case dashboard will have a widget for Sanction Screening and Application Info, so you’ll be able to see details of the applicant in one place. 
  • If needed, you’ll also be able to file a SAR from the case.

Additional Framework Features

In addition some key features of the User Interface framework include:

  1. Quick Search. This provides the ability to simply type a transaction ID, or an email address, or a phone number, among other parameters, and quickly find the set of transactions, applications, or alerts associated with it.
  2. Customizable Filters. As we mentioned above, the transaction summary view can be utilized for reporting, and the applied filters and parameters can be saved. The saved filters can be shared across the team and executed to produce a result set of transactions, alerts, cases or applications as the start of your workflow. This same set of transactions resulting from the filtering can be exported out of the system to be further analyzed outside the IdentityMind platform if necessary.
  3. Tag framework. The workflows enabled in the user interface are fully integrated with the open and powerful tag framework. Tags are used to communicate business values and specific operational aspects that are unique to your business. Every layer in the User Interface interoperates with the tags such that a coherent operational workflow can be implemented in the IDM platform consistent with your operational requirements.
  4. Notes. At every level you can also add, review, and edit notes that your analysts and officers utilize to record the actions associated with operations. Notes are pervasive throughout the system because they are fundamental for analysis and for record keeping of actions taken across the system.

For further information about the user interface features check out the following video: