SMARAGD Compliance Suite - targens GmbH

SMARAGD Compliance Suite

The products of the SMARAGD Compliance Suite from targens stand for compliance solutions on the highest level. SMARAGD is the right choice for anyone who wants to manage the complex requirements in the field of compliance with confidence, now and in the future.

 

 

TCM

Filter software to combat terrorism financing, and conduct the embargo monitoring

The solution Transaction Controlling & Monitoring checks all the payment transactions and customer data for embargo violations and financial sanctions. International, national and institution-specific lists are thereby utilized for the sanction check, and all international regulations are complied with.

Embargo & financial sanctions

In order to protect the financial system from abuse, appropriate measures must be implemented to ensure a compliance with national and international embargo regulations. The IT solution from targens is thereby a central component. The system will check all relevant information (payments and customer data) for violations in real time, and then utilize all available internal and external information (sanction and embargo lists). Conspicuous payment messages are stopped and analyzed by the compliance department.

PEP - Detection of politically exposed persons

The third EU Directive for the combating of money laundering and terrorism financing includes politically exposed persons (PEPs) as a risk group. Among others, these include the highest members of the executive, legislative, military and diplomatic branches. They are subject to special due diligence to these. The PEP component is used to identify potentially exposed persons by means of lists such as Dow Jones, WorldCheck and others. This makes them available for a company-wide customer base , and other risk assessment systems.

Financial Fraud

The identification of conspicuous behavior is a decisive component for the combating of financial fraud. This can avoid reputational damages as well as financial losses, and adequately fulfil the legal requirements. Due to the large amount of data, fraud cases can only be detected through the use of intelligent software. It scans business data for fraud patterns and then indicates deviations. The results are integrated into the application in an audit-compliant manner, historicized and are then available for searches.

CBM

Detection of suspicious transaction activities of correspondent banks

The solution Correspondent Bank Monitoring minimizes the risk of money laundering and illegal money transfers when passing through correspondent banks. It examines payments by analyzing the SWIFT message, and it supports the analysis, offers a flexible case processing, as well as an audit-proof documentation.

Correspondent bank monitoring

With intelligent software solutions, banks are able to minimize the risk of money laundering and illegal money transfers when processing payments through correspondent banks. Foreign transactions are particularly vulnerable to money laundering and terrorism financing. targens will examine payments for irregularities (Burst of Activity, list violations etc.). If the check produces a hit, it is displayed quickly and clearly. This is done, among other things, by analyzing SWIFT messages.

CRS

IT-based risk analysis for the risk management

The solution Compliance Risk System determines compliance risks. It helps to create a risk analysis for the financial crime in order to counteract and prevent damage in good time. This will enable an early detection of financial crime, as well as it's long term prevention.

Risk-based approach

targens will link the entire acceptance process for new customers, all the way up to the monitoring of existing customers, and perform a risk-based controlling. Through this, the customer risk is automatically determined, a risk class is assigned to the customer and the degree of due diligence is specified. Legislative authorities demand the cyclic updating and checking of customer information. Depending on the degree of due diligence, targens will indicate expired deadlines and trigger the updating of the necessary data.

Financial Fraud

The identification of conspicuous behavior is a decisive component for the combating of financial fraud. This can avoid reputational damages as well as financial losses, and adequately fulfil the legal requirements. Due to the large amount of data, fraud cases can only be detected through the use of intelligent software. It scans business data for fraud patterns and then indicates deviations. The results are integrated into the application in an audit-compliant manner, historicized and are then available for searches.

Risk analysis for the risk management

Financial institutions must establish appropriate business and client-related security systems, and control mechanisms appropriate for their risk situation. A hazard analysis with a risk-based approach meets all the EU standards. It helps to avoid risks such as money laundering, terrorism financing and financial fraud. The analysis covers the entire corporate group, and also includes local dependencies. After the risk analysis, suitable countermeasures can be initiated.

MDS

Money laundering analysis through a consideration of rule codes and relationship networks

The solution Monitoring & Detection System enables an analysis of the customer and account data on a daily basis with the indicator and scenario model. Indicators can be adjusted to business processes and new risk situations. Financial crime scenarios will be depicted in detail.

Money laundering combating

Intelligent software can help to prevent the obfuscation and placement of illegal funds. The foundation of the targens money laundering measures is a scenario and indicator model, which is based on the international experience of many hundreds of banks during the introduction. In the meantime, a large number of laws have created a set of rules for all financial service providers, aimed at combating money laundering. An expert team of experienced consultants will support the implementation of these money laundering guidelines.

Financial Fraud

The identification of conspicuous behavior is a decisive component for the combating of financial fraud. This can avoid reputational damages as well as financial losses, and adequately fulfil the legal requirements. Due to the large amount of data, fraud cases can only be detected through the use of intelligent software. It scans business data for fraud patterns and then indicates deviations. The results are integrated into the application in an audit-compliant manner, historicized and are then available for searches.

PEP

Assessment of the customer base for Politically Exposed Persons

The solution Politically Exposed Persons checks with the help of PEP lists such as DowJones, WorldCheck etc., whether someone is a "politically exposed person". Hereby, it is possible to use all the information available in the PEP lists (for example, nationality, date of birth) for the checking.

Recognition of politically exposed persons

The third EU Directive for the combating of money laundering and terrorism financing includes politically exposed persons (PEPs) as a risk group. Among others, these include the highest members of the executive, legislative, military and diplomatic branches. They are subject to special due diligence to these. The PEP component is used to identify potentially exposed persons by means of lists such as Dow Jones, WorldCheck and others. This makes them available for a company-wide customer base , and other risk assessment systems.

GEL

IT-supported application for a compliance with company-internal policies regarding gifts and events

The solution Gifts & Entertainment Log helps to implement the company's internal gift policy. Every benefit received by employees or awarded to an external person is documented. This will provide a comprehensive overview with many reporting options.

CDD

Compliance check during the customer acceptance process

The solution Customer Due Diligence automatically determines the customer risk. This means that companies are fulfilling the due diligence duties for new and existing customers. In order to comply with all guidelines, they must be aware of the economic background and be able to recognize behavioral deviations.

Risk-based approach

targens will link the entire acceptance process for new customers, all the way up to the monitoring of existing customers, and perform a risk-based controlling. Through this, the customer risk is automatically determined, a risk class is assigned to the customer and the degree of due diligence is specified. Legislative authorities demand the cyclic updating and checking of customer information. Depending on the degree of due diligence, targens will indicate expired deadlines and trigger the updating of the necessary data.

Financial Fraud

The identification of conspicuous behavior is a decisive component for the combating of financial fraud. This can avoid reputational damages as well as financial losses, and adequately fulfil the legal requirements. Due to the large amount of data, fraud cases can only be detected through the use of intelligent software. It scans business data for fraud patterns and then indicates deviations. The results are integrated into the application in an audit-compliant manner, historicized and are then available for searches.

Threat analysis for the risk management

Financial institutions must establish appropriate business and client-related security systems, and control mechanisms appropriate for their risk situation. A hazard analysis with a risk-based approach meets all the EU standards. It helps to avoid risks such as money laundering, terrorism financing and financial fraud. The analysis covers the entire corporate group, and also includes local dependencies. After the risk analysis, suitable countermeasures can be initiated.

CCM

Standardized processing and audit-compliant documentation of compliance cases via e-file

The solution Compliance Case Management offers an e-file with standardized workflows. The compliance cases are managed centrally and uniformly, and documented in a manner that is audit-proof. The solution is able to flexibly adapt to any working method, and can also be integrated into any system.

ACR

Ongoing review of customer relationships

The solution Automated Customer Review includes static customer characteristics and risk-weighted transaction behavior in the risk classification for the business initiation. Through this, review data is defined for the checking of changes in the customer business behavior.

DAW

Integration of external parties in the case processing

The solution Distributed Alerts Workflow helps companies to make decisions during the case processing. Information from external parties (for example, branches, subsidiaries) can be requested without leaving the SMARAGD Compliance Suite. The external collaboration is browser-based.

TPC

Compliance checking of new and existing business partners

The solution Third Party Compliance subjects third parties to a compliance audit. Within the scope of an IT-supported process, suppliers, service providers, etc. are examined and evaluated regarding their compliance risk prior to the business relationship establishment.

Third Party Compliance

The checking of business partners (suppliers etc.) serves as protection against fraud, and reputational damages. With targens, companies receive a risk assessment of their third party, because their compliance risk is calculated on the basis of quantifiable characteristics (country assessment, etc.). A configurable workflow can integrate this assessment into existing processes. An audit-proof documentation of the individual steps makes the results and derived decisions comprehensible at any time.