Introduction About Base60 AML

Money laundering and fraudulent activities have currently increased more and have become a serious matter of concern for banking/financial institution, where they have responsibility to stop any type of offensive activitives that involves money laundering. Underworld activities, funding terrorist organisations, concealed coversion of black money to white money, hiding taxable amount - all have become a part of day-to-day activity taking place in huge volume. All financial/banking institution have been given a high alert by global regulatory to bring halt to these anti-social activities that affect billions of people in diversified ways.

In this current global scenario, to give hands with financial institutions in accordance with curbing the illegal transactions among the individuals and organsations and spotting out the terrorist financial activities, OFS has evolved a state-of-art technology Base60 AML product namely Anti Money laundering. Base60 is OFS' flagship banking product platform pioneered to cater for the needs in the banking domain.

AML Features

OFS' Base60 AML solution enables the banks to trace out the daily transactions of its cuustomers, thereby having a keen eye over the customers' activities in detecting and reporting any illegitimate activities, thus helping the financial institution in identifying and preventing the fraudulent customers from uttering anymore mischievous acts. Thus banks can maintain their reputation unhampered and continue the process of steeply elevating their market capitalisation obliging to loyalty and abiding by rules and regulations. This banking solution facilitates the Financial Institution to:

	Achieve complete regulatory compliance quickly and cost effectively
	Identification and segregation of risk-associated transactions/customers/accounts and generating an alert to proceed further inti the investigation process
	Performs transaction behaviour analysis and generate alerts for items that has deviation from the previous transactions
	Performs link analysis to reveal the hidden mystry behind the customer/transactions
	Manage, define and configure workflow that endues financial instiotution for verification and investigation process of exceptional customers/transactions/accounts who may be prone to be suspicious.
	Generate day-to-day report on transactions in varied type that are more illustrious and detailed based on account type, transaction type, transaction amount, alerts, audit reports etc. in the format preferred by the bank/institution
	Map external and internal data using the in-built ETL tool
	Manage the access rights of the users in financial institution through effective user management module.
	To crown it all, Base 60 AML solution is automated to compile and run scenarios (conditions found to be risky) based on the data downloaded from the host and copulate the data as alerts/cases, wherever the data matches the configured scenarios.

Focus Areas:

a) Software Sales, Implementation and Support
b) Training Services
c) On-Line Watch List Services
d) Plug and Play Services
e) AML Consulting and Audit