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Automate the onboarding and risk rating of Vendors based upon a company’s specific risk tolerance
Client onboarding and AML review process
Global RADAR’s Vendor Onboarding & Risk Management Solution provides a single platform to automate the onboarding and risk rating of Vendors based upon a company’s specific risk tolerance, as well as, mitigate risk by conducting enhanced due diligence as part of Vendor management.
Our solution includes three modules
Modules that can be configured specifically for your industry, business, and compliance requirements.
Conducting enhanced due diligence
The information gathered and stored by Global RADAR® during the Broker Management onboarding process whether through, direct input, automated integration or importing data from other systems through Global RADAR’s open architecture allows you to understand the risk of conducting business with your Vendors or any 3rd party. We will configure the risk rating of your Vendors to reflect your risk tolerance and conduct ongoing risk management. Our solution will help to ensure ongoing risk management and compliance by providing an audit trail and record-keeping of all activities and related data or documentation.
The Enhanced Due Diligence module includes features such as off-line screening, onboarding screening, batch screening, enhanced name-matching capabilities, and transaction screening. Our solution simplifies screening for anti-money laundering, sanctions, organized crime, and threat finance, as well as, providing detailed monitoring of Politically Exposed Person (PEP)/ (“Negative News”) relationships. Screening algorithms can be customized and self-configured for the effective detection of possible matches and to optimize the level of Alerts which can be easily created, managed, prioritized, routed, and documented.
The document management module improves Vendor onboarding and management experience. Our solution provides the ability to easily generate and track all Vendor documents automatically. With an adaptive self-configurable documentation checklist, you can manage and generate Vendor and any other 3rd Party related documents on your pre-designed forms or by integration with your current document management repository. Our comprehensive case management solution allows for the proper documentation of alerts to facilitate special investigations and the filing of suspicious transaction reports.
Global RADAR® is a secure, cloud-based solution that is GDPR compliant. It is a powerful business intelligence resource that will not only save time in generating reports for management but will also drive positive change and accountability by opening up new ways of managing your Vendor’s business and compliance risk in a timely and flexible manner. Reports and dashboards show Vendor profiles by risk, product, industry, geography, and many other important attributes. The dashboards show real-time information about Vendors.
Leading financial services brands choose Global RADAR®
As the overall landscape of the finance and trade world markets continue to evolve, the need for constant monitoring of individual activity has become increasingly necessary.