Temenos Financial Crime Mitigation (FCM) is an award-winning solution trusted by over 300 banks worldwide, ranging from top-tier firms to smaller financial institutions. It is designed to prevent regulatory fines, detect fraud, and manage reputational risk while enhancing efficiency. FCM offers unparalleled flexibility, with deployment options including private or public cloud, on-premise, or as a fully managed service (SaaS). The solution stands out with superior performance and technology, including patented explainable AI (XAI) that ensures regulatory and compliance transparency. FCM boasts impressive metrics such as a 93% faster origination time on digital channels and a 19% decrease in compliance administration time, with false positive rates less than half the industry average. It is adaptable to immediate needs and extendable as requirements evolve, making it suitable for navigating the ever-changing landscape of digitalization, regulation, and financial crime evasion techniques.

Features:

• Industry leading levels of detection accuracy and false positives: Industry leading false positive levels (Screen): sophisticated algorithms, smart contextual whitelists and robotic process automation, dramatically reduce overheads and costs. Record hit rate evaluation: clients report double their hit evaluation efficiency (a 250% increase while head count is up only 30%). Efficiency through AI: Proven combination of algorithms rules and Artificial Intelligence
• World-Class performance & resilience: High performance: Vertical and horizontal scalability or SaaS-based scaling ensures FCM delivers exceptional performance together with the highest possible availability whether on-premise or SaaS. A trusted, fast, and resilient solution, handling exceptional high volumes of transactions and throughput in the industry, the solution is relied upon from small financial institutions to very large banks.
• Proven behavioral analytics, algorithms and AI combination: Based on key metrics such as income, spending patterns, and transaction types, a unique financial fingerprint or “DNA” is assigned to each customer. Together with prebuilt typologies and self-learning algorithms, this enables identification of both usual and unusual behavior.
• Enterprise-wide solution: Complete solution: for all financial crime mitigation needs from watch-list screening, KYC, anti-money laundering, and fraud prevention. FCM employs a risk-based approach monitoring ongoing transactions for continual risk assessment, thus enabling financial institutions to focus their effort and resources where most needed. Award winning: #1 best-selling compliance and risk management system (IBS Intelligence Sales League Table 2019). Leading FCM solution: as highlighted by IDC, Ovum & KapronAsia analyst review reports
• Flexible and configurable: A flexible and configurable solution that is fit for institutions of all sizes in all regions can run on-premises and in the cloud to reduce implementation efforts and deliver greater efficiencies. Using highly configurable business rules, FCM allows coverage of specific regional requirements and can easily connect at any core banking system, offering the quickest implementation time in the market.
• Easy to deploy, supporting gradual adoption and migration: Based on pre-built models that are configurable to an individual bank or FI’s risk-based approach requirements, FCM offers rapid implementation with low impact installation, and the option to install only those components needed. The phased implementation allows gradual adoption and migration at any level. Additional specialist consultancy advisory services available provided by Temenos Professional Services for Risk-Based Approach guidance on AML, Sanctions and KYC best practice.
• Enhanced user productivity with workflow management: Configurable workflow management drastically reduces the total cost of ownership by providing highly efficient processes for case management, alert management, and report builder. This fully flexible solution satisfies all the operational needs of any FI.
• eXplainable AI (XAI): Temenos’ XAI addresses one of the key issues for banks using AI applications; which is that they typically operate as ‘black boxes’ offering little if any discernible insight into how they reach their decisions. We bring cutting-edge innovation to financial crime mitigation by providing transparency into these decisions and helping you explain clearly, in plain language, to regulators how AI-based decisions are made.
• Technology: Using the most advanced cloud native, cloud-agnostic and API-first technologies, FCM can be deployed on-premise, in private or public cloud or delivered as a service (SaaS).