How does Transaction Monitoring compare to AML Transaction Monitoring?

ComplyAdvantage's Transaction Monitoring solution is a powerful tool for detecting suspicious financial activities and ensuring compliance with anti-money laundering (AML) regulations. The platform leverages advanced analytics and rule-based scenarios to identify unusual patterns and flag potentially high-risk transactions in real-time.

Customizable workflows allow businesses to tailor the solution to their specific operational and regulatory needs, while machine learning capabilities enhance detection accuracy by reducing false positives. Comprehensive dashboards provide a clear view of flagged transactions, enabling compliance teams to investigate and resolve cases efficiently.

By integrating seamlessly with existing financial systems, ComplyAdvantage's Transaction Monitoring solution helps organizations maintain regulatory compliance while minimizing operational disruptions.

Sardine's AML (Anti-Money Laundering) Transaction Monitoring module is designed to detect and report suspicious activities that may be indicative of money laundering, thereby ensuring compliance with AML regulations. The module monitors transactions in real-time, applying sophisticated rules and machine learning models to identify patterns and behaviors associated with money laundering. It supports the customization of monitoring parameters to align with the specific risk profiles and regulatory obligations of the organization. Upon detecting suspicious activities, the system can generate alerts and facilitate the filing of Suspicious Activity Reports (SARs) as required by law. Additionally, the module provides comprehensive reporting and audit capabilities, aiding in regulatory examinations and internal compliance assessments. By automating the monitoring process, Sardine's AML Transaction Monitoring module enhances the effectiveness and efficiency of AML compliance programs.

ComplyAdvantage, founded in 2014, is a RegTech company that specializes in providing AI-driven financial crime risk detection and anti-money laundering (AML) solutions. ComplyAdvantage leverages artificial intelligence, machine learning, and natural language processing to offer real-time risk insights and AML data solutions.

The company provides a range of services, covering:

- AML onboarding and monitoring
- Transaction monitoring
- Payment screening
- Politically exposed persons (PEPs) and adverse media screening
- Real-time sanctions and watchlist screening

ComplyAdvantage has experienced significant growth since its inception, raising $88.2 million through three rounds of venture capital funding and expansion of its operations with offices in the United States, Singapore, and Romania. The company serves over 1,600 businesses across the globe, including major financial institutions like Santander and Affirm, and clients have reported a 70% reduction in false positives and a 50% decrease in onboarding cycle time.

Sardine offers a platform to automate risk decisioning, catch more fraud, detect money laundering, and protect customers from scams.

Sardine's platform integrates several key functionalities aimed at combating fraud and ensuring compliance:

- Fraud Detection: Utilizing behavioral analysis and machine learning, Sardine detects scams before they occur by monitoring subtle changes in user behavior across the customer lifecycle—from onboarding to transaction monitoring.
- Risk Scoring: The platform employs advanced risk-scoring models to evaluate potential threats in real-time.
- Compliance Solutions: Sardine provides services such as Know Your Customer (KYC), Know Your Business (KYB), transaction monitoring, and anti-money laundering (AML) compliance.
- Device Intelligence & Behavioral Biometrics: By incorporating device intelligence and behavioral biometrics, Sardine enhances its fraud detection capabilities beyond traditional methods.

The inception of Sardine was driven by the founders' experiences in the fintech space, particularly their recognition of the fragmented nature of fraud prevention services available to cryptocurrency and neobanking sectors. Ranjan's background in cybersecurity and machine learning, alongside the team's collective expertise, led to the development of a unified API platform designed to tackle various fraud risks comprehensively. The name "Sardine" is a nod to Suspicious Activity Reports (SARs), which are critical in reporting financial crimes.