Metallinvestbank to introduce risk management system from AML Technology

Metalinvestbank will implement the FBR compliance risk management system developed by AML Technology to monitor and identify suspicious transactions. This was announced on July 15, 2021 by AML Technology.

For 2 years, Metallinvestbank has been actively developing the segment [[Small business of Russia 'small and medium-sized business]]. The customer base and the volume of operations are growing. In this regard, there was a need to automate the monitoring and detection of dubious transactions on large volumes of data while maintaining the current level of operating costs.

The FBR system closes the requirements of the Bank of Russia for the quality and timeliness of identifying dubious transactions. At the same time, it closes the needs of the business in terms of the speed of responding to dubious operations, optimizing resources to maintain it and at the same time maximizing customer orientation.

"Compliance departments in banks are usually departments that manually check customers using reports on transactions already performed by customers. The FBR system transmits the main work to the algorithms and allows predicting dubious operations. This improves productivity and minimizes the risks that arise from the human factor, " says Nikita Tolstikov, CEO of AML Technology.

The FBR system analyzes all transactions and customer profiles and automatically detects questionable transactions of all common typologies. It implements the "one window" mode for compliance department employees, optimizing the labor costs for working with customers in the framework of compliance procedures. The system also stores AML/FT files for customers.

Algorithms evaluate the customer profile based on more than 200 criteria and rules formed for the small and medium-sized business segment, tested in practice and covering all varieties of dubious transactions that the Bank of Russia draws attention to. The system also allows you to manage customized rules and timely adjust their work in accordance with the dynamically changing requirements of the Central Bank to increase attention to certain types of dubious operations.