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Financial institutions face increasing regulatory demand to meet AML compliance requirements. We have been building systems to meet it since our first deployment, and now run at nine institutions.
The obligation
Global regulation — FATF recommendations, the USA PATRIOT Act, FSA guidelines, KYC standards — sets the shape. Local regulators set the deadline: Bank Indonesia, OJK and PPATK mandate programmes, and an institution that cannot evidence one carries both financial risk and reputational loss.
Sahassa AML is an end-to-end solution. It lets an institution know its customers better, monitor them and their transaction data to uncover hidden suspicious activity, and reach regulatory compliance in a cost-effective way.
Beyond core AML
OJK requires risk to be assessed and evidenced at the level of the individual customer, not just the portfolio. We built and deployed the individual risk assessment and reporting module at PT Bank Panin, Tbk.
Custody operations carry a different risk profile and a different set of counterparties from retail or commercial banking. We built the custody-specific AML capability for PT Bank KEB Hana.
Monitoring for regulatory compliance obligations beyond AML, deployed at PT Bank CTBC Indonesia and PT Bank Sahabat Sampoerna.
National blacklist integration and checking, delivered for PT Bank CIMB Niaga, Tbk.
Where it runs
AML obligations are not confined to conventional commercial banks. Our deployments span national banks, foreign bank subsidiaries, a sharia bank and a life insurer — each with a different customer base, different products and a different risk surface.