A cutting edge fintech start-up based out of Ghana has chosen Amlock™, Azentio’s Financial Crime Detection and Management Solution, to meet its anti-money laundering (AML) compliance and international money transfer monitoring requirements. The solution will also help the company ensure compliance with Bank of Ghana’s AML regulations and Ghana’s Financial Intelligence Centre (FIC).

While Amlock™ has been deployed at various banks in Ghana, Azentio also has a strong track record in AML solution implementations for mobile wallet companies and fintechs. The Ghanaian company selected the solution to leverage this domain experience and knowledge to meet their payment monitoring requirements.

Key Modules

  • Real-time sanction screening for payments
  • Case workflow for approval / rejection / comments, with audit trail
  • MIS reports and dashboards

Features that Add Value

  • Configuration flexibility to define screening rules, matching percentages and amount thresholds
  • Option to perform ‘keyword’ search in payments
  • User-defined alerts assignment / re-assignment
  • Configurable workflow with comment capture
  • Facility to search / sort / filter
  • Option to add customers /alerts to exception lists
  • User and management dashboards
  • Reports module providing alerts, risk and screening reports in multiple formats

Amlock™ provides an end-to-end payment monitoring solution for real-time sanctions screening of international payments and money transfers against various international and local sanction lists. It ensures flexibility to screen against multiple parameters and checks for large value transactions that are beyond regulatory reporting thresholds.

About the Customer
The Ghana-based fintech is a digital payments solutions start-up, providing money transfer services through collaboration with money transfer operators (MTOs), such as Western Union and Money Gram; banks, and telcos.