Flooss has successfully gone live with the RiskNucleus® AML solution by BenchMatrix, a robust and advanced platform designed to combat money laundering and ensure compliance with regulatory standards. The system offers comprehensive risk assessment capabilities, allowing Flooss to identify, assess, and manage risks associated with money laundering activities effectively.
The Transaction Monitoring module within the platform empowers Flooss to configure and execute a variety of scenarios to monitor suspicious behavior, seamlessly investigate alerts, and report any suspicious activities to the relevant authorities.
By leveraging digitization of data, advanced reporting, and analytics, the solution enhances decision-making processes, enabling users to generate and extract insightful reports. This move underscores Flooss’s commitment to adhering to central bank AML/CFT regulations and minimizing the risk of regulatory violations.
About Flooss:
FLOOSS is the first digital instant sharia compliant financing company in the Kingdom of Bahrain, licensed by the Central Bank of Bahrain. As a Financing Company, FLOOSS is revolutionising the financial sector in Bahrain by offering digital Financing without the cumbersome paperwork and lengthy processes typically associated with borrowing. You can submit your Financing application at any time, from anywhere.
FLOOSS aims to address the challenges associated with traditional loan application methods, which often prove tedious, inconvenient, and time-consuming—sometimes taking weeks for approval. With FLOOSS, you will enjoy clarity and transparency in your financial standing.
Apply for your Financing today via iOS and Android apps.
Website: www.FLOOSS.com
About BenchMatrix
BenchMatrix is a leading provider of GRC, AML, and Loan Origination solutions that focus on creating robust and practical systems for financial institutions. Our team has successfully implemented the full cycle in several multinational organizations, including Bahrain, Qatar, Saudi Arabia, the United Arab Emirates, Kuwait, France, Canada, and Pakistan.
Comments from Flooss Team:
The successful implementation of the RiskNucleus® AML solution by BenchMatrix is a significant step in strengthening Flooss’s AML/CFT compliance framework. The system’s monitoring and reporting capabilities will enhance our ability to detect and manage suspicious activities efficiently. We look forward to working closely with BenchMatrix to ensure its optimal utilization. This move reinforces our commitment to regulatory adherence and operational excellence.
