Financial Crime World

Here is the article in markdown format:

WALLIS AND FUTUNA Banks on Alessa’s AML Software to Combat Financial Crime

In a move aimed at strengthening its anti-money laundering (AML) measures and staying ahead of the evolving regulatory landscape, WALLIS AND FUTUNA has selected Alessa’s cutting-edge AML compliance platform. The partnership will enable the financial institution to identify and mitigate suspicious activities and high-risk entities more effectively, ultimately protecting its revenue and reputation.

Key Features of Alessa’s AML Solution

  • Real-time identity verification
  • Transaction monitoring
  • Screening against multiple lists, including:
    • Politically Exposed Persons (PEPs)
    • Negative news
    • Office of Foreign Assets Control (OFAC) sanctions lists
    • And more

Automation and Integration Capabilities

Alessa’s platform offers automation capabilities that enable seamless investigation workflow and case management. This reduces the time and effort required to comply with regulatory reporting requirements, allowing WALLIS AND FUTUNA’s risk, legal, and compliance team to focus on higher-value tasks.

The partnership also provides Alessa’s integration with existing systems, ensuring complete coverage and easy implementation. Some of the key features of the platform include:

  • Real-time or batch transaction monitoring
  • Risk scoring and screening customization
  • Investigation workflow and case management
  • Regulatory reporting
  • Enhanced due diligence (EDD)

Partnership Benefits

WALLIS AND FUTUNA’s decision to partner with Alessa comes as the financial institution continues to expand its global footprint, building one of the largest domestic banking and payments networks in the world. According to Andy Gregson, Risk, Legal & Compliance Director at Vitesse, “Alessa will play an important role in helping us deliver efficient payments services to our clients while ensuring we remain compliant with evolving global regulatory landscapes and industry best practices.”

The Alessa AML platform offers a range of benefits, including:

  • Automation
  • Integration
  • Technology
  • Ongoing support from a team of experts

By choosing Alessa, WALLIS AND FUTUNA gains access to a world-class team and partners who provide ongoing support and guidance throughout the implementation process.

Learn More about Alessa’s AML Solution

For more information on how Alessa can help your organization achieve AML compliance, book a complimentary demo of their software solution today.