Carreker Corporation has added an anti-money laundering (AML) application to its risk management platform, Carreker Online Risk Expert (Core).
Core AML screens existing accounts and incoming transactions against blacklists, including the UN terrorist and sanction lists. The system can also be configured to filter specific transactions types, countries or individuals.
The tool tracks transactions in both batch and real-time, combining transaction data with sociological, geographical and demographic information to provide a behaviour and risk profile for each customer. These profiles are automatically updated 24 hours a day, seven days a week.
John Carreker, president, global payments technologies, Carreker Corporation, says the AML tool could be adapted to support a bank's specific operational risk management strategy.
"Banks have sharply different AML needs depending on size, structure, market demographics, local rules, and existing technology infrastructure. Core AML is designed to accommodate those differences and let clients install the functionality they need when they need it," says Carreker.