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transaction monitoring

Superior Transaction Monitoring

IdentityMind’s Transaction Monitoring solution is designed to provide Financial Institutions and FinTechs serving Marketplaces, P2P, and Virtual Currency with the industry’s most insightful, accurate and efficient AML compliance results. It features a unique user-centric risk-based approach favored by regulators. Its dynamic modeling, adaptive framework, and contextual identity analysis will help you supercharge your compliance efforts.

An effective Transaction Monitoring system is the centerpiece of a successful anti-money laundering (AML) compliance program.

Transparency into the history of a transaction’s funds and users, and the ability to receive notifications of suspicious transactions is critical for regulatory compliance, following your internal policies and procedures, and preventing criminals from using your institution to launder illicit funds.

However, we know that companies have to contend with high cost compliance operations, often due to outdated, brittle compliance systems that cause drag on their potential success.  Transaction Monitoring can be very daunting in institutions of any size.  Manual processes consume valuable time and resources that would be better used on true transaction escalations.  Plus, manual systems don’t provide analysis with enough information — the full transaction history of a user, whether any transactions are linked to any known bad actors or institutions, or a holistic view of the users risk profile — for accurate risk assessment and decision making. 


Risk-based Approach

Improves Productivity

Alerts are a great way to stay on top of things. However, too many alerts spin your wheels and hurt productivity. This is the case if you treat all transaction alerts the same way. Our platform allows you the ability to risk rate alerts so that you can address them based on criticality of the transaction for efficient escalations. IdentityMind takes a risk-based approach that allows you to apply more hurdles to potentially suspicious transaction users while showing trusted users the fast lane. The result is fewer alerts where you don’t need them, the right amount where you do need them, and less time spent working alerts.

Dynamic Modeling for Increased

Accurate Risk Assessments  

IdentityMind takes a continuous approach beyond the initial KYC event. This approach recognizes that a user’s risk profile changes over time.

As you interact more with your users, the IdentityMind platform captures additional and updated attributes, conducts additional analysis, and ultimately updates customer risk profiles accordingly. This allows for dynamic real-time risk assessments for quick and efficient analyst review.  

Contextual Analysis Provides

Greater Accuracy

IdentityMind’s patented eDNA™ assembles a digital identity from an individual’s attributes (eg. name, address, device, phone, email, account information, bank information, social networks). It analyzes each digital identity to provide a continual assessment of whether they should be trusted or not. As part of this analysis, the IdentityMind platform compares identities with similar identities, evaluates the risk of the identity’s country of origin, and considers situation and environment. Because the platform is able to consolidate a broad range of attributes and weave them together into a consistent model, the result is more accurate risk assessments.

User-Centric Customization for

Greater Efficiency

In-house custom solutions focus resources on building and maintaining, instead of compliance, and often fall short on helping analyst arrive at insights for fast efficient decision making. Our user-friendly standards-based platform is highly customizable and configurable, allowing you to focus on the areas of growth for your business success. Transaction rules set and risk thresholds are easily configured, and our alerts and streamlined case management system allow analysts to accurately and efficiently review  all the pertinent information associated with each transaction all at your fingertips.

Key Features


1. Set Rules and AML Typologies That Will Trigger Alerts

Rules can be set according to:

  • Specific users and specific transaction triggers for that user
  • Historical deviation; advance analytics to see historical deviation using interquartile range (IQR)
    • Deviation in normal behavior
    • Deviation from historical behavior based on incoming/ outgoing transfers for both value, volume, and transfers with new countries

2. Alerts are Generated in Near Real-Time

Automated alert generation means you can respond to suspicious activity almost immediately.

3. Review Alerts

  • Analyst-optimized view
  • Examine relevant information for quick review
  • Customizable filters

4. Investigate Alerts

You can investigate alerts based on:

Time Series Anomaly Detection
View transactions that appear unusual during a specific timeframe

Based on Transaction History
Review transactions that seem outside of the normal historical pattern for that entity/user

Transfers, Sending/Receiving
Quickly review any suspicious outbound and inbound transactions based on your policy ruleset

Customer vs. Group of Users
Use our graphical widget to compare user’s transaction behavior against similar users within the institution based on country, account age, products, services, or other attributes

5. Make Informed, Timely Decisions About Alerts (SLAs)

  • Decision by Date
  • Date indicators
  • Stay on top of suspicious activity reporting (SAR) deadlines
  • Monitor and track to ensure alerts are closed or reported per regulatory timeframes

SAR and CTR Filings

Suspicious Activity Report (SAR) Filing

    • Ability to file suspicious activity reports to comply with regulations
    • SAR generation capabilities which includes pre-filling of relevant data from user into the form, increasing efficiency in completing the form and carrying over SAR narrative from case investigation notes for reference.
    • SAR form is customizable and updates as changes are made by FINCEN

Currency Transaction Report (CTR) Filing

  • Filter transactions for regulatory (CTR) reporting

Case Management

Investigator-optimized view
View only the information that is necessary in order to make a final decision

Ability to Email Customers
Reach out to customers directly for additional due diligence information when necessary

Case Workflow
Have full transparency, and manage your team efficiently as our platform allows you to assign cases to analyst for review and track the status of where they are in the process


  • Adequate policies to the regulatory jurisdiction they apply to. A cross border transaction may need to be evaluated by multiple regulatory requirements. The platform makes sure both policies are applicable, and the results are relevant to each one of the jurisdictions
  • Ability to file regulatory reports that are applicable to each jurisdiction
  • Ability to configure SLAs per country and jurisdiction

Payment Transaction Risk Scoring

  • Platform has the ability to provide a risk score on transactions based on data attributes associated with it. Eg. movement of transaction and if associated with any bad actors or entities for real time decision making

Reporting and Analytics

  • Transaction monitoring program report
  • Monthly/Quarterly reports tailored for regulators, auditors and internal executives
  • Operational reporting for workflow, workload, SLAs, analyst performance

Bitcoin Risk Assessment

  • Risk flags, risk scores (range)
    • Customize risk thresholds and exposures alerts for bitcoins  
  • Real-time alerts, transaction monitoring policies
  • Graphical view of transaction hash
  • Visual graph that provides you with easy analysis of all associations with each transaction.  
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