Yantra Financial Technologies launches Real-Time Compliance and Risk Management System

September 26, 2014 - Yantra Financial Technologies (YFT) announced the launch of its cloud-based, real-time Compliance and Risk Management System (CRMS) for Banks and Money Service Businesses. With increasing regulatory emphasis on Anti-Money Laundering monitoring, the demand for fast processing of payments, real-time risk-scoring and the development of new risk detection models has become critical. Financial criminals continually improve their ability to infiltrate existing banking systems — CRMS is the first payments specific risk-scoring solution which leverages the latest technologies and complex mathematical algorithms to combat this threat.

According to Suresh Ramamurthi, CEO of YFT, "Banks and MSBs need to prepare for higher velocity transactions as they grow. As a result of large amounts of data generation, the burden of managing compliance and risk increases exponentially. This growth also creates a need for effective risk-scoring on current and historical transactions. CRMS uses its proprietary pattern technology to continually improve risk scoring and provide users with a simple way to search transactions and detect potential issues."

CRMS is built on a big-data technology stack which delivers scalable and fast data processing performance. Current performance testing across millions of financial transactions and OFAC queries has shown impressive results. CRMS is able to return a search result within 20 milliseconds to the end-user.

The system is offered to banks and commercial clients as a hosted solution. Enterprise level clients have the option for an in-house installation license. Regardless of the commercial model or client size, CRMS delivers a robust list of features which includes:

Simple integration and implementation.

APIs for real-time integration into existing core processing systems

Fast search to find transactions

Configurable risk scoring system

Configurable rules and limits tracking

Risk Scoring across all historical transactions

Risk Scoring across all types of transactions including Wires, ACH, Checks, Debit Cards, Credit Cards, Cash and Teller Transactions

Case Management Tool for further analysis and resolution

Configurable threshold based alerting system

Role-Based access

Comprehensive Reporting Tool

Real-time OFAC and List Checking

"One of the biggest concerns for custodial firms is AML/KYC/List Matching at every transaction. We are excited to bring state-of-the art technology to banking in order to address this need. Disrupting all aspects of the payment transaction ecosystem is part of our long-term strategy — CRMS is just the beginning." says Mr. Ramamurthi.

About Yantra Financial Technologies
Yantra Financial Technologies (YFT) specializes in designing, developing and managing electronic payment and risk management systems. We are focused on creating secure, contextual and conditional ways of moving money for businesses and consumers around the world. Yantra's key leadership team is comprised of veteran bankers, silicon valley entrepreneurs, ex-Google and ex-Yahoo executives, and experienced payment systems professionals.