EastNets, a leading global provider of compliance, payments and cloud solutions for the financial services industry, has unveiled the new features of its leading Anti-Money Laundering Solution, en.SafeWatch Profiling, demonstrating anew its commitment to constantly enhance its solutions to help organizations better comply with regulations, mitigate risks, and increase their capabilities to effectively foil money laundering activities.

New functionalities for customer and account profiling include enhanced risk scoring, a dynamic dashboard and visualization capabilities. Enhanced Risk Scoring allows financial institutions to monitor their customers according to the Financial Actions Task Force (FATF) Risk Based Approach. It identifies the areas where business is most vulnerable to money laundering and terrorist financing risks, and helps take the appropriate preventative measures. Risk scoring works by identifying and monitoring high-risk countries, products/services, transactions and clients from the financial organizations’ entire customer base which also helps in determining the appropriate levels of needed customer due diligence. 

A dynamic dashboard provides users with a holistic overview of suspicious transactions and cases being processed. The data is displayed using graphical interactive charts and tables. Powered by IBM –i2 Analyst’s notebook, the Cross-Checker functionality provides unique link analysis and visualization capabilities leading to a more accurate customer profiling and segmentation. It allows users to centralize data from various sources, detect connections and hidden relationships between entities and individuals, and then display the results in a visual, easy-to-understand graphical manner.

Hazem Mulhim, CEO, EastNets, said: “The enhanced and highly flexible en.SafeWatch Profiling Anti-Money Laundering solution empowers financial institutions by allowing them to gain more insight into the profiles of their customers.  This single-window system is equipped with contemporary yet easy-to-use features to better analyze trends and customer behaviors. Such functionalities will increase the financial institutions’ ability to make informed decisions in terms of complying with regulations and combating money laundering. As criminal activities get bolder and more sophisticated, financial service institutions must efficiently respond through implementation of cutting-edge solutions. Our commitment is to support the global industry in this fight and our solutions new features are a testament to that.”