New ACE Features Streamlined Workflow Resulting in Dramatically Reduced Case Investigation Times

We are delighted to announce the latest release of Alacra Compliance Enterprise for global financial institutions. Alacra Compliance Enterprise helps banks and trading firms around the world reduce regulatory, financial, legal, and reputational risk.

If you are not familiar with our compliance solutions, let’s take a quick tour: Alacra Compliance Enterprise, also known as “ACE”, helps clients lower their cost of compliance for CIP, KYC, EDD, and credit investigations by integrating disparate datasets into a single workflow, eliminating inconsistencies in the KYC process. The integrated workflow allows analysts to quickly screen, onboard, and monitor clients and counterparties.

Alacra Compliance Solutions are already recognized as a leading KYC solution by the world’s largest banks and corporations. Alacra Compliance Enterprise has won industry accolades including a 2011 CODiE Award for “Best Solution Integrating Content into Workflow” and by VIP as a tool which can “Simplify compliance-related searching…to help firms standardize their reporting practices.”

The latest release of ACE includes improved features, including the ability to easily conduct investigations that involve multiple subjects, such as a corporation and its officers, directors and beneficial owners.

For Investigators:

The ACE workflow simultaneously searches all the databases your firm uses to onboard a new client or counterparty. This includes multiple sources of sanctions lists, PEPs, adverse news, public records, credit reports, public records, criminal records, and hundreds of web sites. ACE can also search internal “Do Not Do Business” lists. Consistency, thoroughness and time savings are the result.

The ACE Investigation Dashboard now displays the complete search criteria for each data source.  Investigators can now add comments to each search result, either using a pick list or free text.  Four-eye review or management approval can be put in effect so investigators and supervisors are on the same page.

For KYC Managers:

Our enhanced Investigation Results Report puts the most important information upfront, highlighting findings that may affect the onboarding.

ACE now provides tools for better resource and performance management. We track where investigation bottlenecks occur and uncover which investigations are not meeting internal SLAs. ACE lets you manage your limited resources much more effectively.


For Compliance Executives:

ACE lowers the cost of the entire onboarding process by streamlining the process and allowing resources to be optimally deployed.  ACE clients have experienced over an 80% increase in investigator productivity. Risk is reduced as each case follows a consistent process. Case error rates have been reduced by over 40% at some firms.  And revenues increase – the sooner a customer is onboarded the faster you can do business with them.

From Onboarding to Ongoing, Alacra Compliance Enterprise helps financial firms manage their team and streamline their KYC process. Interested? Send us a note to start the conversation.