Al Jabr has gone live with BenchMatrix’s RiskNucleus® AML which is a comprehensive anti-money laundering solution. The AML application will assist Al Jabr on it’s journey towards complying with AML/CFT Regulations, thus reducing the cost of any regulatory non- compliance.
RiskNucleus® AML solution is developed considering evolving FATF’s recommendations and AML/CFT best practices around the world. With the implementation of this full-scale AML solution, Al Jabr has successfully implemented an effective AML/CFT program, making it compliant with legal and regulatory requirements of AML/CFT.
Al Jabr will be able to strengthen its AML transaction monitoring with an extensive in built library of risk based scenarios, whereas the fuzzy logics and algorithms used in AML watchlist screening module will provide a robust matching solution.
Through our configurable workflows, reporting tools and end to end audit trails, RiskNucleus® provides the most user friendly and fit to organization needs solution. Users will be able to analyze alerts triggered through rule based scenarios. In order to ensure a thorough review, all actions will be processed through a configurable workflow and the users will be able to attach supporting evidence and justifications, maintaining an audit trail and staying compliant with record keeping requirements.
The solution comprises of the following modules:
- Watch-list screening
- Transaction monitoring
- Customer due diligence
- Risk assessment
- Case management
- Reporting
RiskNucleus® AML solution delivers capabilities that financial institutions require to stay compliant and secure, including:
- Risk Based transaction monitoring scenario Library
- Tools for seamless integration with any system
- A consolidated holistic view of customers, accounts and transactions
- Reliable infrastructure
- Ability to cater to AML- compliance requirements on local and global levels
About AJFC
AJFC was established in 2014 with its mission to become one of the best specialized financing companies in the Kingdom. AJFC is licensed by the Saudi Central Bank (SAMA) to offer productive assets finance, consumer finance, financial lease, for both SMEs & individuals. The Company serves customers through branches across the Kingdom, focusing on serving both institutional and individual clients. The management of AJFC continues to work on enhancing its customer’s experiences and broadening the range of financing products/services.
About BenchMatrix
BenchMatrix is a leading consulting firm and provider of governance, risk, compliance, anti-Money laundering and loan creation solutions, with a focus on developing practical and effective solutions for enterprises. The team has many cycles of experience and full experience, and implementation experience in multinational organizations and companies and has many success stories and experiences in Romania, France, Canada, Malta, Turkey, Bahrain, Qatar, Saudi Arabia, United Arab Emirates, Kuwait, Pakistan, Algeria and Tunisia.
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