Meet Isaac, Your AI Transaction Monitoring Investigator

Isaac is an AI Digital Worker that automates transaction monitoring level one alert review by investigating and evaluating unusual transactions generated from surveillance monitoring systems. He collects and reviews transaction monitoring alerts, clears away non-suspicious alerts, escalates alerts that require deeper investigation, and provides the supporting narrative and documentation for it all.

Meet Isaac, Your AI Transaction Monitoring Investigator

The challenge of Transaction Monitoring

Transaction Monitoring (TM) is required for anti-money laundering/countering the financing of terrorism (AML/CFT) programs globally and is a critical tool for fighting financial crime. However, it can be a difficult compliance obligation. Banks manually review millions of transaction monitoring alerts each month with most of those alerts being non-suspicious. Regardless, suspicious activity monitoring programs take a lot of time, require large teams of people, and cost a lot of money.

Financial institutions need assistance in aggregating the vast amount of data and supporting documentation in case management systems, enriching investigation with data from third-party sources and internal tools, analyzing for links and relationships between multiple data points, anomaly detection for unusual patterns and outliers, and expectation analysis to compare actual versus expected activity.

Focus on the highest risk activity with Isaac

As an AI Digital Worker, Isaac helps with TM alert management by using machine learning capabilities to work first-level alerts, auto-escalate alerts that are likely to require investigation and closes alerts that are non-suspicious with supporting narrative and documentation, allowing your analysts to focus on the highest risk activity.

Isaac helps with common BSA transaction monitoring scenarios that generate a high volume of alerts such as structuring; excessive funds transfers/movement of funds/patterns of funds transfers; unexpected account usage/behavior; high-risk factors; use of dormant accounts, and more.

Each of Isaac’s decisions is supported by human-readable justification, supporting documentation, and a confidence threshold to maintain transparency for examiners and auditors.

Isaac is not a transaction monitoring tool/system and does not generate alerts.

Team up with Isaac to:

Automate L1 review of TM Alerts
Isaac auto-clears non-suspicious TM alerts and auto-escalates more suspicious alerts for deeper review, allowing investigators to focus on higher-value investigative work.

Turn Analysts from Authors to Editors
Using the dossier that Isaac compiles, analysts can easily read through the data and narrative, as opposed to the time-consuming task of searching and compiling data.

Mitigate Risk
Reduce risk by enabling earlier and faster escalation of suspicious alerts. Automated L1 review saves time and money of human analyst review, reducing and eliminating manual touchpoints based on risk threshold.

Improve Compliance
Isaac provides documented, transparent, human-readable decisions of the alert-review process with a confidence threshold for regulators.

Team up with Isaac to:

Automate L1 Review of TM alerts: Isaac auto-clears non-suspicious TM alerts and auto-escalates more suspicious alerts for deeper review, allowing investigators to focus on higher-value investigative work.
Turn analysts from authors to editors: Using the dossier that Isaac compiles, analysts can easily read through the data and narrative, as opposed to the time-consuming task of searching and compiling data.
Mitigate Risk: Reduce risk by enabling earlier and faster escalation of suspicious alerts. Automated L1 review saves time and money of human analyst review, reducing and eliminating manual touchpoints based on risk threshold.
Improve compliance: Isaac provides documented, transparent, human-readable decisions of the alert-review process with a confidence threshold for regulators.

Isaac’s responsibilities as an AI Transaction Monitoring Investigator

Picks up alerts generated from surveillance monitoring systems and then investigates and evaluates the activity.
Automates for L1 transaction monitoring alert reviews, collecting data and either closing non-suspicious alerts or escalating them to an investigator.
Creates a dossier of each decision supported by human-readable justification, supporting documen-tation, and a confidence threshold to maintain transparency for examiners and auditors.
Provides a consistent approach to alert review and investigation, as well as the quality of the alert narrative and supporting documentation.
Assists with common AML transaction monitoring scenarios that generate a high volume of alerts such as structuring, excessive funds transfers/movement of funds/patterns of funds transfers, unex-pected account usage/behavior, high-risk factors, use of dormant accounts, and more.

Isaac works with:

LexisNexis, Thomson Reuters, Moody’s and other sources for enriching data
NICE Actimize, SAS, Oracle SCM, Fiserv, FIS and other Transaction Monitoring software

Isaac’s responsibilities as an AI Transaction Monitoring Investigator

Picks up alerts generated from surveillance monitoring systems and then investigates and evaluates the activity.
Automates for L1 transaction monitoring alert reviews, collecting data and either closing non-suspicious alerts or escalating them to an investigator.
Creates a dossier of each decision supported by human-readable justification, supporting documen-tation, and a confidence threshold to maintain transparency for examiners and auditors.
Provides a consistent approach to alert review and investigation, as well as the quality of the alert narrative and supporting documentation.
Assists with common AML transaction monitoring scenarios that generate a high volume of alerts such as structuring, excessive funds transfers/movement of funds/patterns of funds transfers, unex-pected account usage/behavior, high-risk factors, use of dormant accounts, and more.

Isaac works with:

LexisNexis, Thomson Reuters, Moody’s and other sources for enriching data
NICE Actimize, Verafin, SAS, Oracle SCM, Fiserv, FIS and other Transaction Monitoring software

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