Allsec Technologies Launches AML-as-a-Service: Outcomes-driven Offerings for Global Banks
Dallas, TX (PRWEB) September 21, 2016 -- Allsec Technologies, (NSE:ALLSEC), a leading Business Process Outsourcing firm, with operations in the US, India, and the Philippines, today announced the launch of its innovative, outcomes-driven AML-as-a-Service for the anti-money laundering industry.
“Money Laundering detection and resolution can become a proactive process, if and only if a financial institution or money service business can quickly and accurately investigate a triggered event and then shut down suspicious activities from occurring in the future.,” said Adi Saravanan, President at Allsec Technologies. “Banks and corporations alike cannot afford the costs of egregious fines or business restraints that result because they either can’t quickly respond to investigating suspicious events, or don’t have the tools required to accurately manage the outcomes of the AML process. The pressures are only intensifying as global financial regulatory authorities are clamping down even more tightly on financial transactions of every kind. In response to these pressures, our service platform combines the power of advanced technologies such as big data, artificial intelligence and machine learning with a highly trained, seasoned, global workforce to detect false positives, investigate legitimate cases and report potential suspicious activity more quickly and at less cost.”
In 2015 alone, banks across the world have had to scale up their teams to manage increased levels of fraud detection, investigation and resolution by anywhere from 10 to 20%. Furthermore, in a recent report by the American Bankers Association, bank compliance officers reported their institution had decided not to launch a product, open a new channel, or had held off on entering a new market—temporarily or permanently—due to compliance concerns.
“Allsec’s AML-as-a-Service disrupts current models of BPO engagement—where the per-seat model is widely prevalent,” said Jeff Brown, Senior Vice President at Allsec. “We wanted to bring performance and accountability into the game, by delivering an outcomes-based variable service offering. We take out the bloat from the engagement by using tools and smart processes, thereby delivering more outcomes quicker and at substantially less cost than in-house.”
About us: Allsec Technologies is a leading BPO and Payroll Management firm listed on the NSE in India, with a 30% stake held by the Carlyle Group. Our clients include leading names in Retail, Insurance, Banking and Financial Services, Energy and Utilities, and Telecommunications.
Jeff Brown, Allsec Tech Inc, http://www.allsectech.com, +1 214-492-6017, [email protected]
Share this article