| Cognizant's Anti Money Laundering (AML) solution is based on the following key elements: |
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- An identified set of data elements to be captured in the system, according to the lines of business of financial institutions. This will ensure that AML requirements are fulfilled.
- Phased implementation for compliance with KYC requirements and transaction analysis
- A modularized, flexible and scalable architecture
- A flexible, business rules-based workflow system
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| The solution framework
includes Auto-check Transactions in real
time, Transaction Profiling, Auto-alerts,
Auto Track, Adaptive Learning, Suspicious
Transactions Reports (STRs), and complete
Audit Trails. |
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| Our solution brings concrete benefits in terms of: |
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- Improving the money laundering detection
rate
- Reducing exposure to fraud
- Increasing the ability to conform
to compliance norms
- Ensuring the availability of cost-effective
solutions with rapid deployment times
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| Tower Group® estimates Derivatives-related IT budgets at sell-side firms are growing at 12-15% annually, compared with 3-5% for Equities and Fixed Income. |
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