openPR Logo
Press release

ALSEGO’s New Automated AML Reporting Solution for Luxembourgish Banks

01-14-2021 04:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ALSEGO

ALSEGO AML-Automatic Reporting solution

ALSEGO AML-Automatic Reporting solution

ALSEGO has launched a new automated AML Reporting solution aimed specifically at financial institutions in Luxembourg concerned with the Central Electronic Data Retrieval System (CEDRS) as stipulated in the CSSF circular 20/747. The solution is fully automated, however, if you wish to forgo a direct connection between the solution and your core-banking system, the solution functions with TSV/CSV files as well.

The automatic functionalities of the solution are its key strengths. Not only is the entire reporting process automatic, but also the renewal of signing keys between your financial institution and the CSSF, as well as the obfuscation of production data for test environments. Moreover, the solution has a built-in validator in conjunction with the CSSF validation tool, to make sure that your reports are fully compliant. The solution also manages anonymous account identifiers with CSSF status report enrichment, protecting your sensitive data. Furthermore, recently established accounts that do not have all the require information, e.g. a VAT number, are managed with the help of configurable exclusion protocols. Finally, execution status emails are sent to relevant members of staff when a report is successfully submitted or when a report does not pass the validation phase.

ALSEGO’s AML-Automatic Reporting solution is the efficient way to submit your reports to the CSSF’s CEDRS. AML reports are automatically generated, validated and submitted, thereby significantly reducing the burden on your organization’s compliance team and allowing you to focus on your business operations.

ALSEGO
2 rue Jean Engling, L-1466, Luxembourg, Grand Duchy of Luxembourg
Email: info@alsego.com
Phone: 00352 20 33 31 80
Press contact: Michael Fisher

Founded in 2009, ALSEGO is a financial software editor with a track record of delivering robust, secure and modern packaged solutions. Over a decade of developing and editing banking software, compliance applications and other banking industry products have culminated in our white-label eBanking platform and secure professional solutions. Our products are adept at tackling the pitfalls of digital banking projects.

Alongside our clients, we want to reach business objectives and exceed expectations. Collaborating to increase end-to-end customer satisfaction while maintaining a focus on cost efficiency and pragmatism.

We offer an array of FinTech solutions catering to the changing regulatory environment of the financial industry. Banks, credit unions and other financial institutions face digital transformation challenges. To that end, we bring innovation, experience & expertise to make your business more agile, more competitive and more performant.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release ALSEGO’s New Automated AML Reporting Solution for Luxembourgish Banks here

News-ID: 2225395 • Views: 502

More Releases from ALSEGO

Activate the digitization of small banks
The future of banking is digital. While the major players in the retail segment have fully grasped this challenge, the smaller players are often struggling to get on board. This is because implementing the latest technologies to meet new customer expectations requires both resources and skills. For a small organization, the challenge is therefore difficult to grasp, and even more so in a context where margins have never been under
ALSEGO launches a new financial middleware solution
Banks exchange a significant number of financial messages every day, sharing files in various formats. Each file contains several messages, each of which corresponds to an interbank financial transaction. For example, a customer of one bank may transfer funds to an account belonging to a customer of another financial institution. Analyze messages regardless of their format Banks regularly receive files containing several messages (containing transaction data) and must be able to read

More Releases for AML

Global AML Software Market Size, Status and Forecast
AML software is software used in the finance and legal industries to meet the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. Europe to be the largest market for AML software during the forecast period. Though the Europe accounts for the largest market share, the APAC region is envisaged to witness the fastest growth during the predicted period. United States will still
Global AML Software Market Size, Status, Trends, Growth, Size, Segmentation, Sha …
The market for AML Software Market is growing with the expansion of this Industry Sector Worldwide. Market Research Hub (MRH) has added a new report titled “Global AML Software Market Size, Status and Forecast 2018-2025” which offer details about the current trends and analysis, as well as scope for the near future. This research study also covers information about the production, consumption and market share based on different active regions.
Global Anti-money Laundering Software Market 2015 | Major Key Players : ACI Worl …
Description : Technavio’s market research analyst predicts the global anti-money laundering (AML) software market to grow steadily at a CAGR of around 11% during the forecast period. AML software allows financial institutions and other enterprises to detect suspicious transactions and analyze customer data. Its ability to provide real-time alerts and tools to report suspicious events to maximize security and operational efficiency will foster its adoption during the forecast period. An important growth
Anti-money Laundering Software Global Market 2018: Key Players – ACI Worldwide …
Anti-money Laundering Software Industry Description Wiseguyreports.Com Adds “Anti-money Laundering Software -Market Demand, Growth, Opportunities and analysis of Top Key Player Forecast to 2021” To Its Research Database This report studies Anti-money Laundering Software in Global market, especially in North America, Europe, China, Japan, Korea and Taiwan, focuses on top manufacturers in global market, with Production, price, revenue and market share for each manufacturer, covering ACI Worldwide AML360 AML Partners AML RightSource BAE EastNets Experian
Acute Myeloid Leukemia (AML) Therapeutics Market to Develop Rapidly by 2025
Leukemia are a heterogeneous group of cancers affecting the bone marrow and White Blood Cells (WBC). Leukemia is characterized by the rapid increase of abnormal blood cells growth or blasts, resulting in a decrease in the numbers of healthy, normal fully modified blood cells, leading to the typical symptoms of bleeding, anemia, and high risk of infection. Leukemia can grow along either the myeloid or lymphoid stem cell lines, it
Quest CE Offers Anti-Money Laundering (AML) Training
Quest Continuing Education Solutions (Quest CE) is reminding producers that they offer the industry’s most affordable and comprehensive Anti-Money Laundering Training (AML) Solution. Quest CE’s AML course, titled “Anti-Money Laundering Regulations and Red Flag Requirements,” was recently authored and fulfills producer’s annual AML requirement. The course retails for $14.95 and is available for purchase at Quest CE’s proprietary Renaissance Learning Management System. If you would like to purchase the course