Empowering both rural banks and regulatory bodies to help fight money laundering, MDI Novare is introducing SIEVE AML Transaction Monitoring System. A comprehensive anti-money laundering solution, SIEVE AML system leverages data integration, analytics, alert/case management, and AMLC regulatory reporting.
The new solution is built on a sophisticated, high-performance platform that supports the end-to-end process of combating financial crime and working with large volumes of data while automating the tasks as much as possible.
Quoting the findings of the Second National Risk Assessment Report approved by the Anti-Money Laundering Council in 2017, MDI Novare said the threat of national money laundering in the Philippines is considered to be at a high level. This is further supported by the 2021 Suspicious Transaction Report (STR) Quality Review based on the 2.4 million STRs received by the Anti-Money Laundering Council (AMLC) from 2017 to 2020.
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The key features of SIEVE AML system include automated transaction monitoring, intelligent network analysis, 360-degree understanding of customers and their transactions, and a simple, highly configurable business user/investigator-centric interface.
SIEVE AML Transaction Monitoring System is built by MDI Novare. Backed by more than 30 years of experience and expertise in the information technology industry, the company is a leading digital transformation enabler for telecommunication companies, financial institutions, manufacturing and BPO firms, and government agencies through next-generation technologies, automation processes, and other end-to-end solutions.