The Wiz Sentri platform employs network surveillance technology infused with Wolters Kluwer Financial Services’ regulatory and risk management expertise.
The solution enables institutions to create and update profiles of normal customer, employee, account and transactional activity. If the system detects anomalous behavior or transactions that may indicate early-stage suspicious activity, it immediately notifies the institution, helping the institution to prevent a possible financial crime from occurring.
The new solution utilizing real-time, continuous behavioral and transaction monitoring and analysis, can help financial institutions predict and prevent financial crimes before they occur.
Institutions can use Wiz Sentri to act against money laundering and various forms of internal and external fraud, including wire/payments fraud, online fraud, check kiting and identity theft.
The solution is designed to streamline processes, reduce operating costs and minimize risks tied to working with multiple providers and disparate technology systems. Because the platform allows institutions to take a phased, risk-based approach in detecting and preventing criminal activity. Additionally, firms can reduce IT project costs and time frames to help ensure a quicker return on their technology investment.
Tom Leuchtner, director of the financial crimes business unit at Wolters Kluwer Financial Services, said: “In today’s soft economy, financial institutions can’t afford the monetary and reputational losses that accompany financial crimes. By investing in a combined anti-fraud and AML solution with technology that actually enables a preventative approach, they can stop these crimes from occurring, realizing a substantial return on investment in terms of preventing financial losses and maintaining the trust and confidence of their customers.”
