One of the solutions intended for financial institutions such as banks, is a solution suite that manages all the workflow of anti-money laundering and counter-terrorist financing, according to the III Directive (Directive 2007/64/EC of 26th October 2005).
The new regulations on anti-money laundering and counter-terrorist financing, provided in the Polish Act of 25th June 2009, obliges the financial sector to use new IT tools. In order to meet the banking sector’s expectations, UNIT4 TETA presents a new version of the Analysis and Registration of Transactions System (SART 2 – System Analiz i Rejestracji Transakcji), a complete and integrated analytical suite that is fully compliant with the Act’s requirements.
Main areas supported with SART 2:
- Data import from various bank information systems (chart of accounts, transaction details etc.) and from external sources, such as currency tables, watch lists and other information, such as National Court Register, Polish Classification of Economic Activities, Tax Identification Number and National Identification Number. Thanks to the open architecture of this solution you can import data in any file format, from any external source.
- Risk of money laundering management enables automated risk assessment based on a risk map and risk of money laundering analysis in such areas as customer, account, transaction, and picking up of non-standard events, rare or inadequate customer behaviour. It allows also to handle events using various workflow tools, to define money laundering schemes, and finally detect them automatically, the report instantly.
- Financial safety measures, including detection and profiling of customer and transaction activity, customer business connections and highlighting hidden linkages between transactions.
- Identification of real beneficial owner – automated identification of a real beneficial owners of transactions, based on public accessible data.
- Automated customers segmentation into particular groups of risk, together with customer diligence and risk assessment.
- Selection of transactions for GIFI Register, i.e. suspicious transactions, linkages between transactions and transactions schemes, where fields in the cards of transactions are filled out automatically, also in case of linked transactions.
Additional benefits of the SART 2 infrastructure
In the standard configuration the SART 2 system requires no extra components, application licenses or dedicated server licenses (e.g. ORACLE server, MS SQL Server or extra Windows server licenses, etc.).
It should also be noted that SART 2 has been designed in line with guidelines of banking analysis according to the UE Capital Requirements Directive (CRD), known also as BASEL II Accord. Hence the data warehouse and the suite of data registers in SART 2 are upgradable in the field of advanced banking analysis and market, credit and operational risk management. Implementation of the SART 2 system significantly lowers your total cost of ownership as data warehouse implementation and additional specialized data analysis tools are not needed.
Range of solutions offered for financial institution
