Risk-Based Profiling
DetectX® Risk-Based Profiling maintains a live risk profile for every client and business relationship, so a risk-based approach is something the system does rather than something a policy asserts.
The DetectX® approach
Client risk profiles are generated dynamically from continuous KPI and KRI calculation, aligned to the legal requirements the institution is held to, including the FATF standards.
The Rule Designer lets a compliance team write, test and activate its own risk assessment rules, so the criteria that classify a client are maintained by the people accountable for them.
- Real-time profile creation
- Profiles are recalculated as new information arrives, not on a review cycle.
- Systematic classification
- Automated risk classifications for clients and business relationships, with periodic consolidated analysis across the portfolio.
- Customisable lists
- High-risk criteria are added through lookup tables and the Rule Designer rather than a change request.
- Link analysis
- Connections in complex transactions and high-risk relationships are visualised rather than inferred.
What it changes
Unusual activity is flagged as it happens, and the workflow that follows it is documented: systematic checks, escalations and audit-proof records of how a case was handled.
- Rules you can change
- A static ruleset ages. Dynamic rule creation and maintenance is what keeps a risk-based approach current.
- Full audit compliance
- Transparency and traceability across every activity, produced as a by-product of the work rather than assembled for the auditor.
- One view of the client
- A holistic client risk view rather than a per-product score.
Why DetectX®
Profiling is the foundation the behavioural modules build on. It runs on its own, and it is stronger combined with Transaction Monitoring, where the profile it maintains becomes the baseline that unusual behaviour is measured against.
Regulatory requirements
DetectX® supports the FATF and GAFI recommendations, and is used against Swiss regulatory requirements including GwG, FINMA-GwV, VsB 16, KAG, FinfraG, FidleG, BEHG and KKG.
It also supports MiFID and EMIR reporting obligations, and BASEL II and III requirements.
See Risk-Based Profiling on your own data
A demo runs against a scenario you choose, so the alert volume and the match quality are yours rather than ours.
Request a demo