Why does the Correspondent Banking industry need a Fincrime tool?

Correspondent banking is the backbone of international finance. These correspondent banks play an important role in global financial transactions and offer services like foreign exchange, wire transfer, and more. However, due to the activities involved, they also have certain risks. Here’s why they need a FinCrime tool:

  • Ever-evolving fraud tactics.

  • Third-party risks lead to potential vulnerabilities.

  • Keeping up with the stringent compliance requirements.

  • The nature of cross-border transactions leads to increased exposure to illicit activities.

  • Transactions with PEPs might be at a higher risk of getting involved in corrupt practices.

  • Managing due diligence and KYC processes across diverse markets gives criminals a chance to take advantage of loopholes.

Why choose Velocity as your fincrime solution?
Leverages AI and ML

Velocity leverages advanced AI, ML, and big data capabilities, which help to achieve compliance, mitigate risks, and improve efficiency. By analyzing patterns and behaviors across billions of transactions, the tools help to stay ahead of fraudsters.

Stay compliant

Complying with the global and local compliance requirements is not easy. Our tool continuously updates as per the latest regulatory changes, helping you stay compliant and avoid costly fines.

Customizable as per your business

No two correspondent banking networks are the same, and Velocity understands that. With customizable settings, you can adjust parameters to match your specific risk profile and operations.

Real-time transaction monitoring

When operating at a global level staying alert 24*7 is the most important part. Velocity’s transaction monitoring tool can help flag and investigate suspicious activities instantly.

Seamless integration

Say hello to faster deployment and no operational downtime. Smoothly integrate Velocity with your existing systems, ensuring a swift adoption curve, without affecting any ongoing operations.

Scalable as per your needs

As your correspondent banking network expands, so do your security needs. Velocity is designed to scale with you, offering robust solutions that grow with your business.

Dedicated customer support

At Velocity, we’re not just providing service; we’re your partner in fincrime prevention. Our dedicated customer support team is ready to assist you 24*7 and ensure your operations are streamlined.

Discover the power of proactive fincrime prevention in a connected financial world with the advanced fincrime tool Velocity.
Combat fincrimes effectively and step into a world where every transaction is a testament to trust and security.
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