Velocity-Integrated Case Management and Reporting (ICMR) module is a powerful investigation and workflow tool; an easy, intuitive, web-based case management interface for enhanced due diligence, investigation, and reporting. It combines smart technical capabilities in a user-friendly interface to centralize all alerts and case workflows – making it easier to create, investigate, review/approve, and make decisions in an efficient, accurate, and consistent manner.
One platform. Multiple jurisdictions.
Velocity provides a one-stop solution to report for multiple jurisdictions with equal comfort and speed. With its highly efficient, accurate, and completely automated reporting process, Velocity provides an unparalleled solution for all compliance requirements.
Direct filing to FinCEN
File CTR and SAR batches directly to FinCEN to save time
Faster reporting to FINTRAC
Velocity’s regulatory reporting includes ease of filing Suspicious Transaction Reports (STRs), Electronic Funds Reports (EFTRs), and Large Cash Transaction Reports (LCTRs)
AUSTRAC Compliant reports
Automated Suspicious Matter reports (SMRs), Cross-border movement reports, and Threshold Transaction Reports (TTRs)
Powerful, Flexible & Easy to Case Management and Reporting Solution
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A complete overview of all case-related activities
Velocity’s case management module offers financial institutions a single institution-wide case management platform that meets the diverse demands of their business-specific investigation functions. It ingests all suspicious activity alerts provided by any internal or third-party system, creates, and prioritizes cases, gives businesses a comprehensive and accurate picture of all relevant case-related data.
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Dynamic dashboard
An integrated case management dashboard comprises a visual framework that offers users a comprehensive snapshot of all suspicious activity alerts, open cases, and more. It offers effective management of daily activities and critical risk metrics by centralizing information about workflow reminders, open cases, trends, and statistics in one dashboard, allowing users to discover patterns in the data effortlessly.
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Integrated case management and alerts
When Velocity identifies suspicious behavior in any internal or third-party system, it generates data-rich alerts and opens a case in the case management and report module with all the information analysts and team members require to complete the investigation. It notifies users of a wide variety of suspicious behaviors taking place across numerous transaction channels. From anomalous financial flows to human trafficking and terrorist financing, Velocity’s risk-rated AML alerts ensures that fraudsters do not prey on your organization.
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Enhanced reporting
Velocity helps enhance auditing, reporting, and record-keeping of all areas of fraud and AML detection operations by providing hundreds of ad-hoc data reports and the flexibility to construct bespoke reports with whatever custom fields customers require. Use a pre-made, regulator-approved report or create customized reports that highlight various investigation data, such as fraud saving totals, the proportion of cases that result in SARs, total time spent investigating various forms of fraud, and more.
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Customized event-based workflows
The case management and reporting module in Velocity offers considerable control over case workflows. The graphical user interface of the AML system guides users through the process of developing a workflow to satisfy the respective operational process flow requirements of each case type. Organizations can select from pre-existing conventional yet out-of-the-box workflows, alter them or create a new event-based workflow. These workflows can be linked to specific case categories, allowing financial institutions to have separate investigative processes for each type of case. Alternatively, we can program custom workflows for users as well.
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Automated Suspicious Activity Reports (SARS)
Users may generate a pre-populated SAR automatically from a case with the press of a button. Complete the narrative using the investigation notes and results saved in the case, and queue it to be submitted directly to FinCEN straight from Velocity.
The Velocity Advantage
Gain a comprehensive perspective on possible fraud throughout the organization. The case management and reporting solution provided by Velocity enables investigators and analysts to conveniently handle and monitor all cases inside a single powerful application. It provides an all-in-one case management system for establishing and managing alerts, potential fraud cases, and Suspicious Activity Report (SAR) submissions. Additionally, it increases the accuracy and efficiency of case investigations while also assisting with financial crime compliance.
FAQs
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Can Velocity case management and reporting software integrate with other compliance systems and data sources to provide a comprehensive view of compliance activities across the organization?
Yes, Velocity case management and reporting software can be easily integrated with the existing systems. Moreover, the software is integrated with the FinCEN e-filing systems, which helps to file the SARs automatically, save time and boost the efficiency of the compliance team.
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Can Velocity case management and reporting software integrate with other compliance systems and data sources to provide a comprehensive view of compliance activities across the organization?
Yes, Velocity case management and reporting software can be easily integrated with the existing systems. Moreover, the software is integrated with the FinCEN e-filing systems, which helps to file the SARs automatically, save time and boost the efficiency of the compliance team.