Financial Crime Compliance and Anti-Money Laundering (AML) transaction monitoring: 8 week consulting led implementation


Structure, tools and framework for effective AML transaction monitoring : Consulting led assessment, Dashboarding and reporting Solution and AI/ML optimization on Azure

Banks have a big challenge on their hand as they work to squeeze criminal activity out of the financial system, avoid fines and the loss of credibility that goes with failure to comply. Key challenges faced by financial organizations:

  • Know Your Customer (KYC) for onboarding
  • Customer Risk Profiling
  • Sanction screening
Cognizant's Financial Crime Compliance and Anti-Money Laundering (AML) transaction monitoring solution is a 8 week consulting lead implementation that leverages the Microsoft Azure Cloud to help financial organizations address these key challenges.
AML Transaction Monitoring is the first step in digitalizing compliance. Cognizant and Microsoft ‘s Financial Crime Compliance and AML transaction monitoring solution on Azure focuses on the completion or upgrade, if necessary, of the AML platform to prevent cost increases, see same operational leverage and accelerate time to value.
The solution addresses daily activities such as identifying and authenticating the customer, monitoring and detecting transaction & behavioral anomalies, mitigating risks, issues, and fines and ensuring an outlet of new opportunities offered by a market that is transforming.
The joint solution offering provides the structure, tools and framework required for effective AML transaction monitoring:
  1. Blueprint: Consulting led assessment service - recommendations and roadmap
  2. Compliance Digital Cockpit : Dashboarding and Reporting (incl. Power BI) solution for Compliance Officers
  3. AI/ML Optimization: Use Case and priority area driven optimization leveraging AI/ML on Azure
The estimated offer price and duration is for guidance purposes only. The actual price and duration for solution implementation will be customized based on client requirements identified during initial discovery workshops.