Setting the standard for active detection of risk-relevant events
4 April 2017, New York & London: Compliance and Risk Management SaaS technology leader Opus announced today the launch of Alacra Surveillance, a new module for its award-winning Alacra Compliance Enterprise (ACE) and Alacra Compliance Professional (ACP) solutions. ACE has long been relied on by global banks to quickly turn raw data into risk-focused, actionable intelligence. Now Alacra Surveillance provides clients with targeted and timely alerts on risk-relevant events through proactive monitoring, helping financial institutions to better manage risk and compliance. The new module builds on the Opus expertise in putting streamlined workflow around data and risk management, giving clients a customized, consolidated daily view into risk-relevant events in a single user interface, eliminating the need for time-consuming manual effort, multiple research tools or one-size-fits-all single source options.
Kelvin Dickenson, Head of Compliance and Data Solutions at Opus, explains: “In today’s world banks need to have a view into risk-relevant events, as and when they happen. Our clients simply can’t afford to take the risk of missing vital information. Events such as a delisting, a change of jurisdiction or emerging adverse news can have a dramatic impact on risk, as could a previously unknown political exposure, which can require a bank to repeat diligence and re-evaluate a relationship. Alacra Surveillance informs users of significant events as soon as they happen.”
Dickenson continues: “Manual research on general data, websites and news feeds is time-consuming and error-prone, and there’s no guarantee of spotting the right information at the right time. A periodic review might only be done once a year or less, leaving a bank exposed. Financial institutions simply can’t take such risks anymore.”
Alacra’s Compliance Enterprise and Compliance Professional solutions are built on the leading SaaS workflow platform for KYC compliance. From pre-configured to fully-customizable, they drive targeted intelligence and optimized risk management for AML (Anti-Money Laundering), project finance, anti-bribery/corruption and vendor risk management. Alacra Surveillance is an integrated module which adds always-on risk awareness to the same intuitive user interface.
This latest innovation uses advanced proprietary matching techniques, configurable filters and multiple data source options to deliver the right information at the right time.
# # #
Alla Lapidus / John Norris
Tel: +44 (0) 20 7250 4770