AMLEXA is the first Artificial Intelligence Platform for a “Distance Customer Due Diligence” and “Remote Know Your Customer (KYC)”, that automates all the processes of Identification, Verification, Risk Assessment and On-going Monitoring for the cryptocurrency, gaming, financial and professional sectors.
AMLEXA is a web aml software, easily customizable and integrable into any system with a minimum configuration, consisting of three modules:
AMLEXA Identification Module
The “Amlexa Identification Module” is an aml software that assures customer’s non-face-to-face identification and verification using a patented authentication technology that compares the data contained in the government issued identity document with biometric recognition of the customer’s face and performs specific forensic tests to verify and confirm, through independent and reliable sources, the validity of personal data, information and documentation collected by the customer.
AMLEXA Assessment Module
The “Amlexa Assessment Module” is an aml software that assures an automated customer AML/CFT Risk Assessment and Management using a patented artificial intelligence algorithm that take into consideration the customer risk, the transactions risk, the product or service risk, the interface risk and the geographical risk. The AMLEXA artificial intelligence algorithm checks the presence of the customer in PEPs Lists, Sanction Lists, Watchlists and Blacklists, automatically recognizes the suspicious behavior and provide an AML/CFT risk profile of the customer, which permits to determine whether to accept or refuse the business relationship.
AMLEXA Monitoring Module
The “Amlexa Monitoring Module” is an aml software that assures an automated ongoing monitoring of the customer AML/CFT Risk using a patented artificial intelligence algorithm that scrutinizes all the transactions undertaken throughout the course of business relationship to ensure that they are consistent with the knowledge of the customer and his risk profile. The AMLEXA artificial intelligence algorithm checks if the activity is not in keeping with what it knows or expects from the customer and depending on the extent of the divergence noted, it collects more information and documentation and reconsiders the initial risk assessment assigning automatically a new risk profile to the customer.
AMLEXA reports any suspected instance of money laundering or financing terrorism and ITL’s back office investigates and determines if the information available can be considered as sufficient to notify the result in an internal report to the Money Laundering Reporting Officer (MLRO).