Enterprise Compliance Fraud & AML Management using Machine Learning & Advanced Analytics

Host Organisation:	I-SPIRAL IT SOLUTIONS LTD
Partner Organisation(s):	PA1: Center of Interdisciplinary Science Promotion and Innovative Research Exploration (InSPIRE) PA2: KPMG Limited
Project Budget:	1.170.334,80 €
IDEK Funding:	684.089,60 €

iSPIRAL has identified a gap in the Financial AML & Fraud Solutions market. During the last 10 years, iSPIRAL has developed a leading KYC, AML & Fraud on-premise software solution and is now supporting more than 200 local financial institutions (e.g., banks, Forex, investment firms) by automating their AML regulatory obligation processes. Our vision is to further enhance our product and penetrate the regional and international market of small to medium FIs. To this end, we propose the design and development of RegTek, an affordable integrated end-to-end KYC, AML, Transaction Monitoring and Fraud Detection solution, which eliminates the need for multiple vendor, provided under the Software-as-a-Service (SaaS) software licensing and delivery model. RegTek features a unified repository for all compliance matters as well as a comprehensive client profile, and appropriate tools to manage them. Cases are seamlessly handled by defining appropriate workflow processes that include reports, visualizations, rules and alerts, assisting organizations to efficiently and effectively combat money laundering and fraud as well as helping them comply with their regulatory obligations in several market sectors such as Small to Medium Banks, Forex, Investment Firms, Payment Service Providers, Electronic Money Institutions, CryptoCurrency Exchange, ICOs, Online Gaming/Gambling, Telecommunications, Insurance and Audit Firms