Ongoing Monitoring

Introduction

Ongoing monitoring is a critical component of our Pro plan. It ensures that your customer due diligence remains up-to-date and helps you identify potential risks that may arise after the initial onboarding process. This feature is automatically included for all sessions where an AML check has been performed, requiring no additional integration steps.

How It Works

Our ongoing monitoring system continuously checks your verified users against various watchlists, sanctions lists, and adverse media sources. Here's a detailed overview of the process:

1. Daily Automated Checks:

   • Our system runs daily automated checks for all sessions that have previously been approved
   • Each check rescreens the user against our comprehensive database of watchlists and sanctions lists
   • The system compares any new findings against your configured AML thresholds

2. Threshold-Based Updates:

   • If new hits are found that exceed your configured review threshold, the session status changes to "In Review"
   • If new hits exceed your decline threshold, the session status automatically changes to "Declined"
   • These thresholds are the same ones you've configured in your verification settings

3. Real-time Notifications:

   • When a status change occurs, your application receives a webhook notification
   • The webhook payload includes the updated status and detailed information about the new AML hits
   • These notifications follow the same format as our standard webhook system

4. Business Console Updates:

   • All changes are immediately reflected in your Business Console
   • Your compliance team can inspect new AML hits, review detailed findings, and take appropriate actions
   • The console maintains a complete audit trail of all monitoring activities and status changes

Key Features

1. Automatic Activation

• Seamlessly activated for all sessions that include AML screening
• No additional configuration or integration required
• Monitoring begins immediately after the initial AML check

2. Risk-based Approach

• Tailor monitoring intensity based on initial risk assessments.
• Automatically adjust monitoring frequency if a user's risk profile changes.

3. Comprehensive Coverage

• Monitor against global sanctions lists, PEP databases, and law enforcement watchlists.
• Include checks against business registries for corporate clients.

4. Automated Alert System

• Receive instant notifications for critical updates.
• Configurable alert thresholds to manage alert volumes effectively.

5. Audit Trail & Reporting

• Maintain a detailed log of all monitoring activities and results.
• Easily demonstrate compliance efforts to regulators.

Benefits of Ongoing Monitoring

1. Continuous Compliance: Ensure ongoing adherence to AML/KYC regulations with zero additional setup.
2. Risk Mitigation: Quickly identify and address emerging risks through automatic monitoring.
3. Operational Efficiency: Automate time-consuming manual rescreening processes with no extra integration work.
4. Enhanced Due Diligence: Maintain up-to-date customer profiles automatically.
5. Regulatory Support: Easily demonstrate ongoing compliance efforts to regulators.
6. Zero-Touch Integration: Benefit from continuous monitoring without any additional development work.