Trade surveillance and market risk solutions provider Eventus has launched a new anti-money laundering (AML) platform, Validus AML (VAML). The service will be available to both traditional and digital asset-oriented firms.
The cloud-based, end-to-end solution provides detection, workflow and case management tools to clients, allowing them to reduce risk, identify illicit financial behaviour and ensure compliance via a single platform.
VAML uses transaction monitoring, behavioural analytics and sanctions monitoring in a signals-based system to identify suspicious activity, linking events together into a “scenario model”. This reduces the need for human intervention and mitigates the risk of false positives, the company says.
The new service will complement existing capabilities on the Validus platform, and can be connected to “almost any” source of customer transaction and trade data.
Travis Schwab, CEO of Eventus, says: “Firms operating in traditional financial markets and digital assets alike are facing greater challenges than ever to protect themselves from those presenting a risk to their businesses and reputations, along with their standing with government regulators.
“Validus AML reimagines what an anti-money laundering programme can do, reflecting a paradigm shift from traditional alert-focused solutions and taking the burden off compliance teams. We’re excited to introduce our new solution, offering the ability to easily adapt to increasingly complex local, regional and global AML regulatory requirements.”
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