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Regxsa rolls out cloud-based solution Alexis to fight money laundering

Thursday 4 June 2020 11:01 CET | News

Regxsa, formerly known as AMLabc, together with Fortech have launched Alexis, a cloud-based solution, to bring the human factor back in the fight against financial crimes.

Alexis is built with the philosophy that not the technology stack, but the application design defines how investigators will let technology work for them, according to the official press release. The solution has a scalable infrastructure for a large volume of data. The financial institutions that deploy this solution can choose where they want to store their data. The location of the cloud can be flexible, which means that they worry less about staying compliant with the regulations of their own country versus the different regulations of the other countries.

Flexibility and freedom to perform research is supported by the map architecture of the Alexis SaaS (Software-as-a-Service) solution and by an internal mind shift within the financial institution. The core layer on the front-end in Alexis remains the same, while investigators are empowered to focus on slicing and dicing the data based on different criteria.

Investigators do not just look at rows of data provided to them, but at different aspects as they go time-travel in the system. They can ensure that the behaviour of the investigated party has indeed changed. They are informed whether the investigated party may or may not be showing similar behaviour as other known schemes, i.e. they learn from mistakes and can share best practices across the financial industry.

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Keywords: financial crime, money laundering, terrorism financing, investigations, data cloud, Fortech, Regxsa, AML, financial institutions
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions