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AFC Essentials
AFC Essentials is a powerful KYC platform developed by JIG, designed to meet the compliance needs of regulated industries globally. Adhering to the Financial Action Task Force (FATF) recommendations, it ensures robust anti-money laundering (AML) and counter-terrorist financing (CFT) measures are in place.
AFC Essentials helps organizations manage their compliance obligations effectively without directly providing customer identification and verification services. To facilitate seamless integration with existing systems, AFC Essentials adopts RESTful APIs.
Key Features
AFC Essentials assists users in regulated industries to comply with customer due diligence (CDD) and record-keeping requirements. It offers a range of features to streamline these processes:
Sanction Screening
Offers various reporting functionalities with time stamps for maintaining a clear audit trail.
Reporting with Time Stamps
Offers various reporting functionalities with time stamps for maintaining a clear audit trail.
Management Dashboard for Case Management
Includes a dashboard for efficient case management, allowing compliance teams to define risk perceptions and visually track application progress.
Risk Assessment & Scoring
Provides tools for customer risk assessment and scoring, crucial for prioritizing compliance efforts.
Suspicious Transaction Report (STR) Generation
Assists in generating STRs as a critical component of AML compliance.
Continuous Monitoring
Facilitates ongoing monitoring of customer activities essential for detecting suspicious transactions.
White-listing
Provides options for white-listing legitimate customers or transactions to reduce false positives.
API Integration
Offers RESTful API functions to seamlessly connect with various systems, including user onboarding systems, CRM systems, and trading platforms.
Sectors
1 / Financial Institutions
Banks, credit unions, and other financial service providers that must adhere to strict AML and CFT regulations.
2 / Insurance Companies
Firms required to conduct thorough assessments of their clients to mitigate risks associated with financial crimes.
3 / Investment Firms
Organizations involved in securities trading, asset management, and other investment activities that require robust compliance measures.
4 / Cryptocurrency Exchanges
Platforms dealing with digital currencies that must implement KYC processes to prevent illicit activities.
5 / Real Estate Agencies
Businesses engaged in property transactions that need to comply with KYC regulations.
6 / Designated Non-Financial Businesses and Professions (DNFBPs)
Including legal professionals, accounting professionals, estate agents, and trust or company service providers (TCSPs).
Unlock Exclusive Access to
AFC Essentials Customer Success Stories
Discover how AFC Essentials can transform your compliance processes with our comprehensive sample use cases. These real-world examples demonstrate how our platform helps organizations like yours navigate complex regulatory landscapes efficiently.